Uber Technologies (NYSE:UBER) Stock Price Up 2.4% – Here’s Why

Uber Technologies, Inc. (NYSE:UBER)’s stock price rose 2.4% on Monday . The company traded as high as $68.85 and last traded at $68.42. Approximately 7,914,226 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 24,310,816 shares. The stock had previously closed at $66.85.

Analyst Ratings Changes

UBER has been the topic of several recent analyst reports. Wolfe Research boosted their price objective on Uber Technologies from $90.00 to $92.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Truist Financial reduced their price target on shares of Uber Technologies from $99.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, November 1st. UBS Group lowered their price objective on shares of Uber Technologies from $114.00 to $107.00 and set a “buy” rating on the stock in a research report on Monday. BMO Capital Markets restated an “outperform” rating and issued a $92.00 target price on shares of Uber Technologies in a report on Friday, October 11th. Finally, Loop Capital lifted their price target on Uber Technologies from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $90.89.

Uber Technologies Price Performance

The company has a market cap of $135.82 billion, a price-to-earnings ratio of 32.09, a price-to-earnings-growth ratio of 0.77 and a beta of 1.39. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. The company has a fifty day moving average price of $65.46 and a two-hundred day moving average price of $70.11.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. As a group, equities research analysts anticipate that Uber Technologies, Inc. will post 1.89 EPS for the current fiscal year.

Insider Transactions at Uber Technologies

In other news, insider Jill Hazelbaker sold 27,780 shares of Uber Technologies stock in a transaction that occurred on Monday, November 25th. The shares were 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 owns 107,289 shares in the company, valued at approximately $7,821,368.10. The trade was a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Uber Technologies

Large investors have recently bought and sold shares of the business. Ascent Wealth Partners LLC acquired a new stake in shares of Uber Technologies in the third quarter valued at approximately $2,087,000. Teachers Retirement System of The State of Kentucky raised its position 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 valued at $24,180,000 after acquiring an additional 13,433 shares during the last quarter. Aviso Wealth Management acquired a new position in shares of Uber Technologies in the 3rd quarter valued at $2,302,000. Polianta Ltd bought a new position in shares of Uber Technologies in the 4th quarter worth $1,206,000. Finally, Brophy Wealth Management LLC acquired a new stake in shares of Uber Technologies during the third quarter worth $1,041,000. 80.24% of the stock is currently owned by institutional investors.

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.