Uber Technologies (NYSE:UBER) Trading Up 0.7% After Analyst Upgrade

Uber Technologies, Inc. (NYSE:UBER) was up 0.7% on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $92.00 to $105.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Uber Technologies traded as high as $93.60 and last traded at $93.06. Approximately 4,429,626 shares traded hands during trading, a decline of 78% from the average daily volume of 20,317,675 shares. The stock had previously closed at $92.46.

A number of other research analysts have also recently weighed in on UBER. JMP Securities reiterated a “market perform” rating on shares of Uber Technologies in a research report on Thursday, May 15th. The Goldman Sachs Group lifted their price target on shares of Uber Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. DA Davidson increased their price objective on shares of Uber Technologies from $80.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Benchmark restated a “hold” rating on shares of Uber Technologies in a research report on Friday, January 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $87.00 target price (up previously from $80.00) on shares of Uber Technologies in a research note on Tuesday, February 18th. Eleven research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.09.

Insider Buying and Selling at Uber Technologies

In other news, insider Tony West sold 23,404 shares of Uber Technologies stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the completion of the sale, the insider now directly owns 114,241 shares in the company, valued at approximately $8,027,715.07. The trade was a 17.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $206,250.00. Following the sale, the chief financial officer now owns 22,162 shares in the company, valued at approximately $1,662,150. The trade was a 11.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 83,788 shares of company stock worth $6,517,070 over the last three months. Corporate insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the business. Capital Research Global Investors boosted its holdings in Uber Technologies by 79.0% in the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock valued at $7,125,728,000 after purchasing an additional 52,125,476 shares during the last quarter. Pershing Square Capital Management L.P. purchased a new stake in shares of Uber Technologies in the first quarter worth about $2,207,743,000. Norges Bank purchased a new stake in shares of Uber Technologies in the fourth quarter worth about $1,467,754,000. Jennison Associates LLC grew its holdings in Uber Technologies by 36.9% during the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after acquiring an additional 7,137,512 shares during the period. Finally, Boston Partners purchased a new position in Uber Technologies during the fourth quarter valued at approximately $381,057,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Uber Technologies Price Performance

The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The stock has a fifty day simple moving average of $77.21 and a 200-day simple moving average of $72.21. The company has a market capitalization of $192.05 billion, a price-to-earnings ratio of 20.14, a P/E/G ratio of 0.89 and a beta of 1.43.

Uber Technologies (NYSE:UBER) last posted its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.33. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. The firm had revenue of $11.53 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same period in the previous year, the firm earned ($0.32) EPS. The business’s quarterly revenue was up 13.8% on a year-over-year basis. On average, equities research analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current 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.