Uber Technologies (NYSE:UBER) Hits New 12-Month High – Should You Buy?

Uber Technologies, Inc. (NYSE:UBER) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $82.18 and last traded at $82.18, with a volume of 1576203 shares changing hands. The stock had previously closed at $77.92.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on UBER. Loop Capital lifted their price target on shares of Uber Technologies from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. BMO Capital Markets reissued an “outperform” rating and issued a $92.00 target price on shares of Uber Technologies in a research report on Friday. Roth Mkm increased their price target on shares of Uber Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. TD Cowen boosted their price objective on Uber Technologies from $88.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 target price on shares of Uber Technologies in a report on Monday, October 7th. Four 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.11.

Uber Technologies Price Performance

The stock has a market capitalization of $181.40 billion, a price-to-earnings ratio of 94.88, a P/E/G ratio of 1.35 and a beta of 1.33. The business has a 50-day simple moving average of $72.65 and a two-hundred day simple moving average of $70.56. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.72.

Uber Technologies (NYSE:UBER) last announced its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.16. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The business had revenue of $10.70 billion during the quarter, compared to analysts’ expectations of $10.57 billion. During the same quarter last year, the business posted $0.18 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, research analysts predict that Uber Technologies, Inc. will post 1.08 earnings per share for the current fiscal year.

Insider Transactions at Uber Technologies

In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $71.91, for a total value of $35,955,000.00. Following the transaction, the chief executive officer now owns 1,266,114 shares of the company’s stock, valued at approximately $91,046,257.74. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $71.91, for a total value of $35,955,000.00. Following the completion of the transaction, the chief executive officer now owns 1,266,114 shares in the company, valued at $91,046,257.74. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jill Hazelbaker sold 40,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $72.00, for a total value of $2,880,000.00. Following the sale, the insider now owns 127,352 shares in the company, valued at approximately $9,169,344. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GLOBALT Investments LLC GA acquired a new stake in Uber Technologies during the 4th quarter worth about $2,184,000. V Square Quantitative Management LLC purchased a new position in Uber Technologies during the fourth quarter valued at approximately $625,000. Integrated Advisors Network LLC increased its stake in Uber Technologies by 18.6% in the 4th quarter. Integrated Advisors Network LLC now owns 10,375 shares of the ride-sharing company’s stock valued at $639,000 after buying an additional 1,629 shares during the period. EP Wealth Advisors LLC lifted its position in Uber Technologies by 16.6% in the 4th quarter. EP Wealth Advisors LLC now owns 20,354 shares of the ride-sharing company’s stock worth $1,253,000 after buying an additional 2,904 shares in the last quarter. Finally, Greenwood Capital Associates LLC boosted its stake in shares of Uber Technologies by 36.4% during the 4th quarter. Greenwood Capital Associates LLC now owns 116,435 shares of the ride-sharing company’s stock valued at $7,169,000 after buying an additional 31,075 shares during the period. Institutional investors and hedge funds own 80.24% of the company’s stock.

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.