Uber Technologies (NYSE:UBER) Trading Up 2.1% After Analyst Upgrade

Uber Technologies, Inc. (NYSE:UBER) rose 2.1% during trading on Friday 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 $64.54 and last traded at $64.47. Approximately 8,957,901 shares traded hands during trading, a decline of 47% from the average daily volume of 16,863,773 shares. The stock had previously closed at $63.17.

A number of other research analysts have also recently weighed in on the stock. Wells Fargo & Company dropped their target price on shares of Uber Technologies from $97.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Benchmark reiterated a “hold” rating on shares of Uber Technologies in a research note on Friday, November 1st. Royal Bank of Canada raised their target price on Uber Technologies from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. The Goldman Sachs Group restated a “buy” rating and issued a $96.00 target price on shares of Uber Technologies in a research note on Thursday. Finally, Oppenheimer lifted their price objective on Uber Technologies from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $91.53.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 27,780 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $72.90, for a total value of $2,025,162.00. Following the sale, the insider now directly owns 107,289 shares of the company’s stock, valued at $7,821,368.10. This represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

Several large investors have recently modified their holdings of UBER. CENTRAL TRUST Co raised its holdings in Uber Technologies by 12.3% in the 3rd quarter. CENTRAL TRUST Co now owns 1,160 shares of the ride-sharing company’s stock worth $87,000 after acquiring an additional 127 shares during the last quarter. Procyon Advisors LLC lifted its stake in Uber Technologies by 2.1% during the 3rd quarter. Procyon Advisors LLC now owns 6,326 shares of the ride-sharing company’s stock valued at $476,000 after acquiring an additional 131 shares during the period. DT Investment Partners LLC boosted its holdings in shares of Uber Technologies by 21.4% during the 3rd quarter. DT Investment Partners LLC now owns 821 shares of the ride-sharing company’s stock valued at $62,000 after acquiring an additional 145 shares during the last quarter. Jmac Enterprises LLC grew its stake in shares of Uber Technologies by 2.1% in the third quarter. Jmac Enterprises LLC now owns 7,340 shares of the ride-sharing company’s stock worth $552,000 after acquiring an additional 150 shares during the period. Finally, Wealthspire Advisors LLC raised its holdings in shares of Uber Technologies by 0.6% during the second quarter. Wealthspire Advisors LLC now owns 24,893 shares of the ride-sharing company’s stock valued at $1,809,000 after purchasing an additional 151 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Uber Technologies Trading Up 2.2 %

The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. The stock’s 50-day moving average is $67.98 and its two-hundred day moving average is $70.69. The company has a market cap of $136.01 billion, a P/E ratio of 32.13, a P/E/G ratio of 0.75 and a beta of 1.33.

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