Uber Technologies (NYSE:UBER) Shares Gap Up – Here’s Why

Uber Technologies, Inc. (NYSE:UBER) gapped up prior to trading on Thursday . The stock had previously closed at $61.18, but opened at $63.17. Uber Technologies shares last traded at $63.07, with a volume of 9,588,157 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on UBER. Tigress Financial lifted their target price on Uber Technologies from $96.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of Uber Technologies in a research note on Thursday, October 31st. Jefferies Financial Group lifted their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Evercore ISI upped their price target on Uber Technologies from $90.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, KeyCorp reduced their target price on shares of Uber Technologies from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Six investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $90.51.

Uber Technologies Stock Down 2.4 %

The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70. The company’s 50 day moving average is $73.82 and its two-hundred day moving average is $71.35. The company has a market capitalization of $126.24 billion, a PE ratio of 29.83, a PEG ratio of 0.76 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.79. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The company had revenue of $11.19 billion during the quarter, compared to the consensus estimate of $10.99 billion. During the same period last year, the company earned $0.10 earnings per share. Uber Technologies’s revenue was up 20.4% on a year-over-year basis. On average, analysts anticipate that Uber Technologies, Inc. will post 1.89 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Jill Hazelbaker sold 27,780 shares of the business’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 completion of the transaction, the insider now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.84% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of UBER. Ascent Wealth Partners LLC purchased a new position in Uber Technologies in the 3rd quarter worth $2,087,000. Teachers Retirement System of The State of Kentucky raised its stake in shares of Uber Technologies by 4.4% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 321,726 shares of the ride-sharing company’s stock worth $24,180,000 after buying an additional 13,433 shares during the period. Aviso Wealth Management acquired a new stake in shares of Uber Technologies in the third quarter valued at about $2,302,000. Brophy Wealth Management LLC purchased a new stake in Uber Technologies during the 3rd quarter worth approximately $1,041,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in Uber Technologies by 9.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,752,471 shares of the ride-sharing company’s stock valued at $432,356,000 after purchasing an additional 512,591 shares in the last quarter. Institutional investors own 80.24% of the company’s stock.

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.