Uber Technologies (NYSE:UBER) Trading Up 4.4% Following Earnings Beat

Shares of Uber Technologies, Inc. (NYSE:UBER) were up 4.4% during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $67.89 and last traded at $67.34. Approximately 14,039,447 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 27,305,328 shares. The stock had previously closed at $64.48.

The ride-sharing company reported $3.21 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%.

Analyst Upgrades and Downgrades

UBER has been the topic of several recent analyst reports. The Goldman Sachs Group reissued a “buy” rating and set a $96.00 target price on shares of Uber Technologies in a report on Thursday, January 2nd. Jefferies Financial Group lifted their price target 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. JPMorgan Chase & Co. decreased their price target on shares of Uber Technologies from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday. DA Davidson decreased their price target on shares of Uber Technologies from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Citigroup decreased their price target on shares of Uber Technologies from $98.00 to $92.00 and set a “buy” rating on the stock in a research report on Thursday. Seven 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, Uber Technologies has an average rating of “Moderate Buy” and an average price target of $90.19.

Insider Buying and Selling

In related news, insider Jill Hazelbaker sold 27,780 shares of Uber Technologies stock in a transaction dated 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 sale, the insider now owns 107,289 shares of the company’s stock, valued at approximately $7,821,368.10. The trade was a 20.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Uber Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CENTRAL TRUST Co increased its position in Uber Technologies by 12.3% during the 3rd quarter. CENTRAL TRUST Co now owns 1,160 shares of the ride-sharing company’s stock worth $87,000 after purchasing an additional 127 shares in the last quarter. Procyon Advisors LLC increased its position 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 worth $476,000 after purchasing an additional 131 shares in the last quarter. DT Investment Partners LLC increased its position in Uber Technologies by 21.4% during the 3rd quarter. DT Investment Partners LLC now owns 821 shares of the ride-sharing company’s stock worth $62,000 after purchasing an additional 145 shares in the last quarter. Welch & Forbes LLC increased its position in Uber Technologies by 3.9% during the 4th quarter. Welch & Forbes LLC now owns 3,936 shares of the ride-sharing company’s stock worth $237,000 after purchasing an additional 148 shares in the last quarter. Finally, Jmac Enterprises LLC increased its position in Uber Technologies by 2.1% during the 3rd quarter. Jmac Enterprises LLC now owns 7,340 shares of the ride-sharing company’s stock worth $552,000 after purchasing an additional 150 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Uber Technologies Stock Performance

The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. The company’s 50-day simple moving average is $65.28 and its 200-day simple moving average is $70.07. The stock has a market capitalization of $157.43 billion, a price-to-earnings ratio of 37.20, a PEG ratio of 0.77 and a beta of 1.39.

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.