Uber Technologies (NYSE:UBER) Releases Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Uber Technologies (NYSE:UBER) released its quarterly earnings results on Tuesday. The ride-sharing company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16, Briefing.com reports. The business had revenue of $10.70 billion for the quarter, compared to analyst estimates of $10.57 billion. Uber Technologies had a return on equity of 12.81% and a net margin of 3.60%. Uber Technologies’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 EPS.

Uber Technologies Trading Up 1.1 %

UBER traded up $0.70 during midday trading on Wednesday, hitting $65.57. 31,477,567 shares of the company were exchanged, compared to its average volume of 19,303,330. The firm has a market capitalization of $137.01 billion, a P/E ratio of 105.76, a P/E/G ratio of 1.32 and a beta of 1.36. The firm’s 50 day moving average price is $68.28 and its 200-day moving average price is $70.98. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. Uber Technologies has a 1-year low of $40.09 and a 1-year high of $82.14.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Morgan Stanley increased their target price on Uber Technologies from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Evercore ISI upped their target price on shares of Uber Technologies from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday. Tigress Financial lifted their price target on shares of Uber Technologies from $72.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Moffett Nathanson restated a “buy” rating and issued a $92.00 price objective on shares of Uber Technologies in a research report on Thursday, April 11th. Finally, Piper Sandler raised their price objective on Uber Technologies from $86.00 to $88.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 25th. Four research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company’s stock. According to MarketBeat, Uber Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.47.

Insider Buying and Selling

In other news, insider Tony West sold 18,750 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $65.63, for a total transaction of $1,230,562.50. Following the completion of the sale, the insider now directly owns 206,338 shares in the company, valued at $13,541,962.94. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Dara Khosrowshahi sold 500,000 shares of Uber Technologies stock in a transaction on Monday, July 15th. The shares were sold at an average price of $71.91, for a total value of $35,955,000.00. Following the completion of the sale, the chief executive officer now owns 1,266,114 shares in the company, valued at approximately $91,046,257.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tony West sold 18,750 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $65.63, for a total transaction of $1,230,562.50. Following the transaction, the insider now directly owns 206,338 shares in the company, valued at $13,541,962.94. The disclosure for this sale can be found here. Insiders have sold a total of 1,135,984 shares of company stock valued at $78,213,297 over the last ninety days. 3.84% of the stock is owned by company insiders.

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.