Uber Technologies (NYSE:UBER) Shares Up 1.1% – Here’s What Happened

Uber Technologies, Inc. (NYSE:UBER) shares shot up 1.1% during trading on Monday . The stock traded as high as $61.30 and last traded at $60.58. 10,363,817 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 18,971,486 shares. The stock had previously closed at $59.93.

Wall Street Analyst Weigh In

Several research analysts have issued reports on UBER shares. Evercore ISI increased their price target on Uber Technologies from $90.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Raymond James initiated coverage on Uber Technologies in a report on Tuesday, September 24th. They issued a “strong-buy” rating and a $90.00 target price on the stock. BMO Capital Markets restated an “outperform” rating and set a $92.00 price target on shares of Uber Technologies in a research note on Friday, October 11th. Daiwa America lowered shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 price objective on shares of Uber Technologies in a report on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.51.

Uber Technologies Stock Up 0.5 %

The firm has a market capitalization of $126.87 billion, a PE ratio of 30.14, a PEG ratio of 0.75 and a beta of 1.33. 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 stock has a 50 day simple moving average of $73.54 and a 200 day simple moving average of $71.42.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results 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 business had revenue of $11.19 billion during the quarter, compared to analysts’ expectations of $10.99 billion. During the same quarter in the prior year, the company posted $0.10 EPS. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Uber Technologies, Inc. will post 1.89 earnings per share for the current year.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the company’s stock in a transaction 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 directly owns 107,289 shares in the company, valued at approximately $7,821,368.10. This represents a 20.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Uber Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. lifted its position in Uber Technologies by 222.7% during the 2nd quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock valued at $26,000 after acquiring an additional 245 shares during the period. WR Wealth Planners LLC boosted its position in shares of Uber Technologies by 563.9% in the 2nd quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 344 shares in the last quarter. MCF Advisors LLC boosted its position in shares of Uber Technologies by 1,038.5% in the 2nd quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock worth $32,000 after purchasing an additional 405 shares in the last quarter. Financial Management Professionals Inc. grew its stake in shares of Uber Technologies by 104.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 494 shares of the ride-sharing company’s stock worth $37,000 after buying an additional 252 shares during the last quarter. Finally, Fairfield Financial Advisors LTD bought a new position in Uber Technologies during the 2nd quarter valued at approximately $36,000. 80.24% of the stock is owned by hedge funds and other 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.