Uber Technologies (NYSE:UBER) Shares Up 0.3% on Analyst Upgrade

Uber Technologies, Inc. (NYSE:UBER)’s share price was up 0.3% during trading on Tuesday after Cantor Fitzgerald raised their price target on the stock from $75.00 to $80.00. Cantor Fitzgerald currently has an overweight rating on the stock. Uber Technologies traded as high as $69.03 and last traded at $68.98. Approximately 5,492,259 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 23,621,645 shares. The stock had previously closed at $68.77.

A number of other brokerages also recently weighed in on UBER. UBS Group increased their price target on Uber Technologies from $102.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Jefferies Financial Group lifted their target price on Uber Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Gordon Haskett upgraded Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a report 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 objective for the company. in a research note on Thursday, January 2nd. Finally, Royal Bank of Canada increased their target price on shares of Uber Technologies from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $91.08.

Insider Activity

In related news, insider Jill Hazelbaker sold 27,780 shares of Uber Technologies stock in a transaction on Monday, November 25th. The shares were sold at an average price of $72.90, for a total value of $2,025,162.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.84% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Uber Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ascent Wealth Partners LLC purchased a new position in Uber Technologies in the third quarter worth about $2,087,000. Teachers Retirement System of The State of Kentucky increased its position in shares of Uber Technologies by 4.4% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 321,726 shares of the ride-sharing company’s stock valued at $24,180,000 after acquiring an additional 13,433 shares in the last quarter. Aviso Wealth Management purchased a new position in Uber Technologies in the 3rd quarter worth approximately $2,302,000. Polianta Ltd bought a new position in Uber Technologies in the 4th quarter valued at approximately $1,206,000. Finally, Brophy Wealth Management LLC purchased a new stake in Uber Technologies during the 3rd quarter valued at $1,041,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Uber Technologies Trading Down 1.0 %

The stock has a fifty day simple moving average of $65.83 and a 200 day simple moving average of $70.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market cap of $143.35 billion, a P/E ratio of 33.87, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36.

Uber Technologies (NYSE:UBER) last issued its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $10.99 billion. During the same quarter last year, the company posted $0.10 earnings per share. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. On average, research analysts expect that Uber Technologies, Inc. will post 1.86 earnings per share for the current fiscal year.

Uber Technologies Company Profile

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.