Uber Technologies (NYSE:UBER) Shares Down 2.9% – Here’s What Happened

Uber Technologies, Inc. (NYSE:UBER)’s share price was down 2.9% on Thursday . The stock traded as low as $76.30 and last traded at $76.8660. Approximately 26,835,470 shares traded hands during mid-day trading, an increase of 41% from the average daily volume of 19,067,854 shares. The stock had previously closed at $79.17.

Uber Technologies News Roundup

Here are the key news stories impacting Uber Technologies this week:

• Positive Sentiment: Uber beat Q1 earnings expectations and issued a stronger-than-expected Q2 bookings outlook, suggesting continued demand in rideshare, delivery, and freight. Uber Jumps 7.6% After Stronger-Than-Expected Bookings Forecast
• Positive Sentiment: Uber Eats expanded its retail reach by adding more than 1,500 Ulta Beauty stores, which could boost same-day delivery volume and support growth beyond restaurant delivery. Uber Eats and Ulta Beauty Team Up to Deliver Beauty Essentials Nationwide
• Positive Sentiment: Uber One surpassed 50 million members, and those members now drive a large share of gross bookings, reinforcing the value of Uber’s subscription and loyalty ecosystem. Uber One Crosses 50 Million Members and Signals a Fundamental Business Transformation
• Positive Sentiment: Several analysts raised price targets or reiterated bullish ratings after the earnings report, signaling higher expectations for Uber’s long-term profitability and platform strength. Uber Zooms Ahead On Platform Strength, Analysts Revise Estimates After Q1 Print
• Neutral Sentiment: Uber-backed Lime filed for an IPO after revenue growth, which highlights the value of Uber’s broader mobility ecosystem, but it is not a direct near-term driver for Uber’s core earnings. Lime Files IPO After Revenue Climbs To $886.7 Million
• Neutral Sentiment: Uber’s management continued to emphasize autonomous vehicles as a long-term opportunity, but investors are still waiting for that potential to translate into clear financial results. Uber CEO Dara Khosrowshahi Sees ‘Trillion-Dollar’ Self-Driving Opportunity
• Negative Sentiment: News that Uber partner Avride is under investigation for self-driving crashes adds fresh caution around the autonomous-vehicle theme, which could weigh on sentiment toward Uber’s robotaxi strategy. Uber partner Avride is under investigation for self-driving crashes

Analysts Set New Price Targets

Several analysts recently weighed in on UBER shares. Morgan Stanley reduced their price objective on shares of Uber Technologies from $110.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, February 5th. UBS Group reduced their price objective on shares of Uber Technologies from $111.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Wells Fargo & Company boosted their price objective on shares of Uber Technologies from $95.00 to $102.00 and gave the stock an “overweight” rating in a research note on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $109.00 price objective on shares of Uber Technologies in a research note on Thursday. Finally, Canaccord Genuity Group set a $72.00 price objective on shares of Uber Technologies in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, thirty-two have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.40.

Uber Technologies Trading Down 1.6%

The firm has a market cap of $153.69 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 5.88 and a beta of 1.16. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.07 and a quick ratio of 1.14. The firm’s fifty day moving average is $74.17 and its 200-day moving average is $80.81.

Uber Technologies (NYSE:UBER) last released its earnings results on Wednesday, May 6th. The ride-sharing company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.03. The business had revenue of $13.20 billion for the quarter, compared to analyst estimates of $13.28 billion. Uber Technologies had a net margin of 15.91% and a return on equity of 41.40%. Uber Technologies’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.83 earnings per share. Uber Technologies has set its Q2 2026 guidance at 0.780-0.820 EPS. Equities analysts anticipate that Uber Technologies, Inc. will post 3.27 earnings per share for the current year.

Insider Activity

In related news, CFO Balaji (A) Krishnamurthy acquired 22,453 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were purchased at an average price of $71.25 per share, for a total transaction of $1,599,776.25. Following the completion of the acquisition, the chief financial officer owned 28,742 shares of the company’s stock, valued at approximately $2,047,867.50. This trade represents a 357.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nikki Krishnamurthy sold 30,000 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $74.45, for a total transaction of $2,233,500.00. Following the transaction, the senior vice president owned 460,756 shares in the company, valued at $34,303,284.20. This represents a 6.11% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Uber Technologies

Institutional investors have recently made changes to their positions in the stock. Measured Wealth Private Client Group LLC acquired a new position in shares of Uber Technologies during the third quarter valued at about $25,000. Nalls Sherbakoff Group LLC acquired a new stake in shares of Uber Technologies in the 4th quarter worth about $25,000. Osbon Capital Management LLC acquired a new stake in shares of Uber Technologies in the 4th quarter worth about $25,000. Imprint Wealth LLC acquired a new stake in shares of Uber Technologies in the 3rd quarter worth about $32,000. Finally, Lloyd Advisory Services LLC. acquired a new stake in shares of Uber Technologies in the 4th quarter worth about $27,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Company Profile

Uber Technologies, Inc is a technology company that operates a global platform connecting riders, drivers, couriers, restaurants and shippers. Founded in 2009 by Garrett Camp and Travis Kalanick and headquartered in San Francisco, Uber developed one of the first large-scale ride-hailing marketplaces and has since expanded into a broader set of mobility and logistics services. The company completed its initial public offering in 2019 and continues to position its app-based network as a multi-modal transportation and delivery platform.

Uber’s principal businesses include mobility services (ride-hailing and shared rides), delivery through Uber Eats, and freight logistics via Uber Freight.