Uber Technologies (NYSE:UBER) Shares Gap Down on Disappointing Earnings

Shares of Uber Technologies, Inc. (NYSE:UBER) gapped down before the market opened on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $70.43, but opened at $64.50. Uber Technologies shares last traded at $65.48, with a volume of 27,482,467 shares changing hands.

The ride-sharing company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.53). Uber Technologies had a return on equity of 18.95% and a net margin of 5.06%. The firm had revenue of $10.13 billion during the quarter, compared to analysts’ expectations of $10.09 billion. During the same period last year, the firm posted ($0.08) earnings per share. The firm’s quarterly revenue was up 14.8% on a year-over-year basis.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. TheStreet raised Uber Technologies from a “c” rating to a “b-” rating in a research report on Wednesday, February 7th. The Goldman Sachs Group upped their price objective on Uber Technologies from $59.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Citigroup raised their target price on Uber Technologies from $91.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday. Gordon Haskett downgraded shares of Uber Technologies from a “buy” rating to a “hold” rating and set a $66.00 price objective on the stock. in a report on Wednesday, January 24th. Finally, KeyCorp upped their target price on shares of Uber Technologies from $79.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Two investment analysts have rated the stock with a hold rating and thirty have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $83.44.

Insider Buying and Selling at Uber Technologies

In related news, insider Jill Hazelbaker sold 20,000 shares of Uber Technologies stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $77.83, for a total value of $1,556,600.00. Following the completion of the transaction, the insider now owns 107,290 shares in the company, valued at $8,350,380.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Tony West sold 18,750 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $70.08, for a total value of $1,314,000.00. Following the completion of the sale, the insider now owns 185,566 shares in the company, valued at approximately $13,004,465.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jill Hazelbaker sold 20,000 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $77.83, for a total transaction of $1,556,600.00. Following the transaction, the insider now owns 107,290 shares in the company, valued at $8,350,380.70. The disclosure for this sale can be found here. 3.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Hoey Investments Inc. raised its holdings in shares of Uber Technologies by 2.7% in the first quarter. Hoey Investments Inc. now owns 71,449 shares of the ride-sharing company’s stock worth $5,501,000 after buying an additional 1,887 shares during the period. Pinnacle Wealth Planning Services Inc. increased its stake in Uber Technologies by 45.4% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 13,308 shares of the ride-sharing company’s stock worth $1,025,000 after purchasing an additional 4,153 shares during the period. Jupiter Asset Management Ltd. bought a new stake in shares of Uber Technologies during the first quarter worth $47,755,000. Pinkerton Retirement Specialists LLC purchased a new stake in shares of Uber Technologies during the first quarter valued at $522,000. Finally, Banco Santander S.A. grew its holdings in shares of Uber Technologies by 17.6% in the first quarter. Banco Santander S.A. now owns 54,801 shares of the ride-sharing company’s stock worth $4,219,000 after purchasing an additional 8,200 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Uber Technologies Stock Up 2.3 %

The company has a market cap of $141.39 billion, a PE ratio of 78.99, a P/E/G ratio of 1.09 and a beta of 1.39. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.79. The company’s 50 day moving average is $74.57 and its 200 day moving average is $65.85.

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.