Uber Technologies (NYSE:UBER) Stock Price Up 3.5% – Here’s Why

Uber Technologies, Inc. (NYSE:UBER) shot up 3.5% on Thursday . The company traded as high as $63.09 and last traded at $62.44. 8,193,454 shares traded hands during trading, a decline of 57% from the average session volume of 19,204,439 shares. The stock had previously closed at $60.32.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Tigress Financial upped their target price on shares of Uber Technologies from $96.00 to $103.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Royal Bank of Canada lifted their target price on shares of Uber Technologies from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Evercore ISI upped their price target on Uber Technologies from $90.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Wells Fargo & Company lowered their target price on Uber Technologies from $97.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Finally, Daiwa America lowered shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Six research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.47.

Uber Technologies Trading Up 3.5 %

The company has a market cap of $131.42 billion, a price-to-earnings ratio of 31.05, a P/E/G ratio of 0.75 and a beta of 1.33. The business has a fifty day simple moving average of $68.54 and a 200 day simple moving average of $70.78. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70.

Uber Technologies (NYSE:UBER) last issued its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $10.99 billion. During the same period in the prior year, the business posted $0.10 earnings per share. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, equities analysts anticipate that Uber Technologies, Inc. will post 1.89 EPS for the current fiscal year.

Insider Activity at Uber Technologies

In related news, insider Jill Hazelbaker sold 27,780 shares of Uber Technologies stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the completion of the transaction, the insider now directly owns 107,289 shares in the company, valued at $7,821,368.10. The trade was a 20.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Uber Technologies

A number of large investors have recently bought and sold shares of the stock. CENTRAL TRUST Co grew its stake in Uber Technologies by 12.3% in the 3rd quarter. CENTRAL TRUST Co now owns 1,160 shares of the ride-sharing company’s stock worth $87,000 after acquiring an additional 127 shares during the period. Procyon Advisors LLC lifted 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 buying an additional 131 shares during the period. DT Investment Partners LLC boosted its stake in Uber Technologies by 21.4% in the 3rd 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 during the last quarter. Jmac Enterprises LLC grew its holdings in Uber Technologies by 2.1% in the 3rd quarter. Jmac Enterprises LLC now owns 7,340 shares of the ride-sharing company’s stock valued at $552,000 after buying an additional 150 shares during the period. Finally, Wealthspire Advisors LLC increased its stake in shares of Uber Technologies by 0.6% during the 2nd quarter. Wealthspire Advisors LLC now owns 24,893 shares of the ride-sharing company’s stock valued at $1,809,000 after acquiring an additional 151 shares during the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Company Profile

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.