Uber Technologies (NYSE:UBER) Shares Up 2.7% – What’s Next?

Uber Technologies, Inc. (NYSE:UBER) traded up 2.7% on Thursday . The company traded as high as $68.87 and last traded at $68.85. 7,958,742 shares traded hands during trading, a decline of 69% from the average session volume of 25,756,650 shares. The stock had previously closed at $67.02.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on UBER. Oppenheimer boosted their price target on Uber Technologies from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. Wolfe Research increased their target price on Uber Technologies from $90.00 to $92.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. KeyCorp lowered their price target on Uber Technologies from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Wells Fargo & Company cut their price objective on shares of Uber Technologies from $97.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Finally, Loop Capital upped their target price on shares of Uber Technologies from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Uber Technologies has an average rating of “Moderate Buy” and a consensus target price of $91.53.

Uber Technologies Stock Up 2.7 %

The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. The company has a 50-day moving average price of $66.43 and a 200 day moving average price of $70.41. The firm has a market capitalization of $145.00 billion, a PE ratio of 34.27, a P/E/G ratio of 0.71 and a beta of 1.36.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.79. The business had revenue of $11.19 billion during the quarter, compared to the consensus estimate of $10.99 billion. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 EPS. Analysts forecast that Uber Technologies, Inc. will post 1.9 earnings per share for the current year.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the 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 transaction, the insider now owns 107,289 shares of the company’s stock, valued at $7,821,368.10. This represents a 20.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Uber Technologies

A number of hedge funds have recently made changes to their positions in UBER. Assenagon Asset Management S.A. increased its stake in Uber Technologies by 670.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock worth $398,809,000 after acquiring an additional 5,753,637 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Uber Technologies by 36.5% in the second quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company’s stock valued at $864,390,000 after purchasing an additional 3,179,308 shares in the last quarter. Edgewood Management LLC increased its position in Uber Technologies by 10.5% in the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock worth $2,070,813,000 after purchasing an additional 2,627,768 shares during the last quarter. AMF Tjanstepension AB bought a new stake in Uber Technologies in the third quarter worth $163,468,000. Finally, Nordea Investment Management AB raised its stake in Uber Technologies by 1,370.1% during the fourth quarter. Nordea Investment Management AB now owns 2,215,053 shares of the ride-sharing company’s stock valued at $134,144,000 after purchasing an additional 2,064,382 shares in the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

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.