Uber Technologies (NYSE:UBER) Trading Up 3.5% After Analyst Upgrade

Uber Technologies, Inc. (NYSE:UBER)’s stock price was up 3.5% on Thursday after Piper Sandler raised their price target on the stock from $95.00 to $103.00. Piper Sandler currently has an overweight rating on the stock. Uber Technologies traded as high as $93.61 and last traded at $93.08. Approximately 7,416,005 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 22,355,436 shares. The stock had previously closed at $89.94.

A number of other equities analysts have also commented on UBER. Tigress Financial set a $110.00 price objective on shares of Uber Technologies and gave the company a “buy” rating in a research report on Friday, May 23rd. Barclays upped their target price on shares of Uber Technologies from $86.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Royal Bank Of Canada reissued an “outperform” rating and issued a $82.00 price target on shares of Uber Technologies in a report on Monday, May 5th. UBS Group boosted their price target on shares of Uber Technologies from $103.00 to $107.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Finally, JMP Securities reiterated a “market perform” rating on shares of Uber Technologies in a research report on Thursday, May 15th. Ten investment analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $100.26.

Insider Activity

In other news, insider Jill Hazelbaker sold 34,884 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the completion of the sale, the insider owned 102,135 shares of the company’s stock, valued at approximately $8,786,674.05. This represents a 25.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm’s stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $95.00, for a total transaction of $261,250.00. Following the completion of the transaction, the chief financial officer owned 21,975 shares in the company, valued at $2,087,625. This represents a 11.12% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,384 shares of company stock worth $3,496,071. Company insiders own 3.84% of the company’s stock.

Institutional Investors 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. Clark Capital Management Group Inc. increased its position in Uber Technologies by 11,354.8% during the 4th quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company’s stock valued at $24,280,000 after purchasing an additional 399,008 shares during the period. UMB Bank n.a. lifted its position in shares of Uber Technologies by 33.6% in the 1st quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company’s stock worth $890,000 after purchasing an additional 3,073 shares during the period. Revolve Wealth Partners LLC boosted its stake in shares of Uber Technologies by 65.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company’s stock valued at $939,000 after purchasing an additional 6,129 shares in the last quarter. Mufg Securities Americas Inc. bought a new stake in shares of Uber Technologies during the 4th quarter valued at about $1,875,000. Finally, APG Asset Management N.V. purchased a new position in shares of Uber Technologies during the fourth quarter valued at about $84,687,000. 80.24% of the stock is currently owned by institutional investors.

Uber Technologies Trading Up 1.1%

The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.02. The stock’s 50 day moving average is $89.30 and its 200-day moving average is $79.34. The company has a market capitalization of $190.22 billion, a P/E ratio of 15.93, a P/E/G ratio of 1.04 and a beta of 1.40.

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, topping analysts’ consensus estimates of $0.50 by $0.33. The firm had revenue of $11.53 billion for the quarter, compared to the consensus estimate of $11.61 billion. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.32) EPS. As a group, equities research analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current 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.