Uber Technologies (NYSE:UBER) Stock Price Up 1.1% – Here’s Why

Uber Technologies, Inc. (NYSE:UBER)’s share price shot up 1.1% during mid-day trading on Friday . The company traded as high as $68.96 and last traded at $69.07. 4,366,853 shares changed hands during trading, a decline of 82% from the average session volume of 24,337,238 shares. The stock had previously closed at $68.30.

Analysts Set New Price Targets

UBER has been the subject of several research analyst reports. Benchmark reaffirmed a “hold” rating on shares of Uber Technologies in a research report on Friday, November 1st. KeyCorp lowered their price objective on shares of Uber Technologies from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, November 1st. BMO Capital Markets reiterated an “outperform” rating and set a $92.00 target price on shares of Uber Technologies in a report on Friday, October 11th. Tigress Financial raised their target price on Uber Technologies from $96.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of Uber Technologies in a research note on Thursday, October 31st. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $91.53.

Uber Technologies Trading Up 0.4 %

The stock has a fifty day moving average of $65.86 and a 200 day moving average of $70.25. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41. The company has a market capitalization of $144.42 billion, a P/E ratio of 34.12, a PEG ratio of 0.77 and a beta of 1.36.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, topping the consensus estimate of $0.41 by $0.79. The firm had revenue of $11.19 billion for the quarter, compared to the consensus estimate of $10.99 billion. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 earnings per share. As a group, equities research analysts anticipate that Uber Technologies, Inc. will post 1.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 27,780 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the sale, the insider now directly owns 107,289 shares in the company, valued at $7,821,368.10. This trade represents a 20.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.84% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

A number of institutional investors have recently bought and sold shares of UBER. Jennison Associates LLC grew its position in shares of Uber Technologies by 36.9% during the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after purchasing an additional 7,137,512 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Uber Technologies by 670.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock worth $398,809,000 after purchasing an additional 5,753,637 shares during the period. Montrusco Bolton Investments Inc. purchased a new stake in Uber Technologies during the 4th quarter valued at approximately $166,072,000. Edgewood Management LLC raised its position in shares of Uber Technologies by 10.5% during the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after buying an additional 2,627,768 shares during the last quarter. Finally, AMF Tjanstepension AB purchased a new position in shares of Uber Technologies in the third quarter worth $163,468,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.

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.