Uber Technologies (NYSE:UBER) Shares Up 3.5% on Analyst Upgrade

Uber Technologies, Inc. (NYSE:UBER)’s share price rose 3.5% on Monday after Wolfe Research raised their price target on the stock from $90.00 to $92.00. Wolfe Research currently has an outperform rating on the stock. Uber Technologies traded as high as $67.35 and last traded at $66.87. Approximately 12,943,129 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 21,903,723 shares. The stock had previously closed at $64.59.

Several other research firms have also recently commented on UBER. Jefferies Financial Group lifted their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Gordon Haskett upgraded shares of Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Thursday, October 31st. JMP Securities lowered shares of Uber Technologies from an “outperform” rating to a “market perform” rating and set a $95.00 price target for the company. in a research note on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of Uber Technologies in a research report on Thursday, October 31st. Finally, Raymond James assumed coverage on shares of Uber Technologies in a report on Tuesday, September 24th. They set a “strong-buy” rating and a $90.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Uber Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $91.53.

Insider Activity

In related news, insider Jill Hazelbaker sold 27,780 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the completion of the transaction, the insider now owns 107,289 shares in the company, valued at $7,821,368.10. The trade was a 20.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the business. GHP Investment Advisors Inc. boosted its holdings in Uber Technologies by 222.7% in the second quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock valued at $26,000 after purchasing an additional 245 shares during the last quarter. Financial Management Professionals Inc. boosted its stake in shares of Uber Technologies by 104.1% in the third quarter. Financial Management Professionals Inc. now owns 494 shares of the ride-sharing company’s stock worth $37,000 after buying an additional 252 shares during the last quarter. Fairfield Financial Advisors LTD purchased a new position in Uber Technologies during the second quarter valued at approximately $36,000. Transcendent Capital Group LLC lifted its holdings in Uber Technologies by 3,928.6% in the third quarter. Transcendent Capital Group LLC now owns 564 shares of the ride-sharing company’s stock valued at $42,000 after acquiring an additional 550 shares during the period. Finally, Fortitude Family Office LLC boosted its position in Uber Technologies by 84.7% in the 3rd quarter. Fortitude Family Office LLC now owns 602 shares of the ride-sharing company’s stock worth $45,000 after purchasing an additional 276 shares in the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Stock Up 3.5 %

The business’s 50 day moving average price is $67.98 and its 200 day moving average price is $70.69. The firm has a market cap of $140.77 billion, a price-to-earnings ratio of 33.26, a PEG ratio of 0.75 and a beta of 1.33. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.79. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The company had revenue of $11.19 billion during the quarter, compared to analysts’ expectations of $10.99 billion. During the same quarter in the prior year, the company earned $0.10 EPS. Uber Technologies’s revenue was up 20.4% compared to the same quarter last year. On average, equities analysts forecast that Uber Technologies, Inc. will post 1.89 EPS for the current year.

About Uber Technologies

Uber Technologies, Inc develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia excluding China and Southeast Asia. It operates through three segments: Mobility, Delivery, and Freight. The Mobility segment connects consumers with a range of transportation modalities, such as ridesharing, carsharing, micromobility, rentals, public transit, taxis, and other modalities; and offers riders in a variety of vehicle types, as well as financial partnerships products and advertising services.