Uber Technologies (NYSE:UBER) Stock Price Down 1% – What’s Next?

Uber Technologies, Inc. (NYSE:UBER) was down 1% on Tuesday . The company traded as low as $85.60 and last traded at $86.24. Approximately 6,470,604 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 20,693,906 shares. The stock had previously closed at $87.12.

Analyst Ratings Changes

Several brokerages have commented on UBER. Bank of America increased their price target on shares of Uber Technologies from $96.00 to $97.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. The Goldman Sachs Group upped their price objective on Uber Technologies from $96.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Loop Capital reiterated a “buy” rating and issued a $105.00 price objective (up from $89.00) on shares of Uber Technologies in a research report on Wednesday, May 21st. Piper Sandler reiterated an “overweight” rating and issued a $87.00 target price (up previously from $80.00) on shares of Uber Technologies in a report on Tuesday, February 18th. Finally, Citigroup upped their target price on Uber Technologies from $92.00 to $102.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Twelve analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $93.91.

Uber Technologies Stock Performance

The business has a fifty day moving average of $80.63 and a 200-day moving average of $73.62. The company has a market cap of $181.21 billion, a PE ratio of 19.00, a P/E/G ratio of 0.89 and a beta of 1.38. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER) last released its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.33. The firm had revenue of $11.53 billion for the quarter, compared to the consensus estimate of $11.61 billion. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. The company’s revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.32) EPS. Equities research analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $206,250.00. Following the completion of the transaction, the chief financial officer now directly owns 22,162 shares of the company’s stock, valued at approximately $1,662,150. This trade represents a 11.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Nikki Krishnamurthy sold 20,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $71.57, for a total value of $1,431,400.00. Following the transaction, the senior vice president now owns 361,908 shares of the company’s stock, valued at $25,901,755.56. This represents a 5.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 83,788 shares of company stock valued at $6,517,070 over the last three months. Insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

Several hedge funds have recently bought and sold shares of UBER. Allworth Financial LP increased its stake in shares of Uber Technologies by 8.9% during the fourth quarter. Allworth Financial LP now owns 20,381 shares of the ride-sharing company’s stock valued at $1,229,000 after buying an additional 1,663 shares during the period. Clark Capital Management Group Inc. boosted its position in Uber Technologies by 11,354.8% during the 4th quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company’s stock valued at $24,280,000 after acquiring an additional 399,008 shares in the last quarter. MFG Wealth Management Inc. purchased a new stake in shares of Uber Technologies during the 4th quarter worth $1,997,000. TigerOak Management L.L.C. purchased a new position in Uber Technologies in the fourth quarter valued at about $1,278,000. Finally, Americana Partners LLC raised its holdings in Uber Technologies by 1,408.2% in the fourth quarter. Americana Partners LLC now owns 78,157 shares of the ride-sharing company’s stock worth $4,714,000 after purchasing an additional 72,975 shares in the last quarter. 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.