Uber Technologies (NYSE:UBER) Shares Up 3.2% – Time to Buy?

Uber Technologies, Inc. (NYSE:UBER)’s share price shot up 3.2% during mid-day trading on Wednesday . The company traded as high as $67.25 and last traded at $66.89. 6,210,656 shares changed hands during trading, a decline of 76% from the average session volume of 25,911,826 shares. The stock had previously closed at $64.84.

Analyst Ratings Changes

A number of analysts recently commented on UBER shares. DA Davidson boosted their price objective on shares of Uber Technologies from $82.00 to $84.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. KeyCorp cut their price objective on shares of Uber Technologies from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Loop Capital boosted their price objective on shares of Uber Technologies from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Raymond James assumed coverage on shares of Uber Technologies in a research report on Tuesday, September 24th. They set a “strong-buy” rating and a $90.00 price target for the company. Finally, Royal Bank of Canada upped their price target on shares of Uber Technologies from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Uber Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.53.

Uber Technologies Stock Performance

The stock has a market cap of $140.32 billion, a price-to-earnings ratio of 33.15, a PEG ratio of 0.75 and a beta of 1.36. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41. The company’s 50 day simple moving average is $66.58 and its 200 day simple moving average is $70.43.

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

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 27,780 shares of the firm’s stock in a transaction that occurred on 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 directly owns 107,289 shares in the company, valued at approximately $7,821,368.10. This trade represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CENTRAL TRUST Co raised its position in Uber Technologies by 12.3% during the third quarter. CENTRAL TRUST Co now owns 1,160 shares of the ride-sharing company’s stock valued at $87,000 after acquiring an additional 127 shares in the last quarter. Procyon Advisors LLC increased its position in Uber Technologies by 2.1% during the third quarter. Procyon Advisors LLC now owns 6,326 shares of the ride-sharing company’s stock worth $476,000 after acquiring an additional 131 shares during the period. DT Investment Partners LLC boosted its stake in Uber Technologies by 21.4% during the third quarter. DT Investment Partners LLC now owns 821 shares of the ride-sharing company’s stock worth $62,000 after buying an additional 145 shares in the last quarter. Jmac Enterprises LLC boosted its stake in Uber Technologies by 2.1% during the third quarter. Jmac Enterprises LLC now owns 7,340 shares of the ride-sharing company’s stock worth $552,000 after buying an additional 150 shares in the last quarter. Finally, Canopy Partners LLC boosted its stake in shares of Uber Technologies by 2.2% in the 3rd quarter. Canopy Partners LLC now owns 6,958 shares of the ride-sharing company’s stock valued at $523,000 after purchasing an additional 151 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.