Uber Technologies (NYSE:UBER) Shares Up 2.2% – Here’s Why

Uber Technologies, Inc. (NYSE:UBER)’s share price was up 2.2% during trading on Friday . The stock traded as high as $87.62 and last traded at $87.58. Approximately 9,062,875 shares traded hands during trading, a decline of 56% from the average daily volume of 20,647,736 shares. The stock had previously closed at $85.66.

Wall Street Analyst Weigh In

UBER has been the subject of several research analyst reports. Cantor Fitzgerald lifted their price objective on Uber Technologies from $107.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Raymond James Financial raised their price target on shares of Uber Technologies from $100.00 to $105.00 and gave the company a “strong-buy” rating in a report on Thursday, August 7th. Guggenheim reduced their price target on shares of Uber Technologies from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. UBS Group set a $122.00 price objective on shares of Uber Technologies and gave the company a “buy” rating in a report on Wednesday, November 5th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Uber Technologies in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, Uber Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $108.26.

Uber Technologies Price Performance

The firm has a 50 day moving average price of $93.90 and a 200 day moving average price of $91.88. The stock has a market capitalization of $181.98 billion, a PE ratio of 11.26 and a beta of 1.46. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $2.44. The business had revenue of $13.47 billion during the quarter, compared to analyst estimates of $13.25 billion. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.Uber Technologies’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.20 earnings per share. Research analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Activity at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $94.41, for a total value of $519,255.00. Following the completion of the sale, the chief financial officer directly owned 20,330 shares of the company’s stock, valued at approximately $1,919,355.30. This represents a 21.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Tony West sold 100,000 shares of Uber Technologies stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the transaction, the insider directly owned 171,558 shares in the company, valued at $17,220,992.04. This represents a 36.82% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 567,625 shares of company stock worth $55,385,660. 3.84% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of UBER. Strategic Advocates LLC bought a new position in Uber Technologies in the 3rd quarter worth $142,000. Kimelman & Baird LLC lifted its position in shares of Uber Technologies by 1.0% in the third quarter. Kimelman & Baird LLC now owns 338,057 shares of the ride-sharing company’s stock valued at $33,119,000 after acquiring an additional 3,435 shares in the last quarter. Manhattan West Asset Management LLC boosted its stake in shares of Uber Technologies by 1.7% in the third quarter. Manhattan West Asset Management LLC now owns 58,536 shares of the ride-sharing company’s stock worth $5,735,000 after acquiring an additional 984 shares during the period. CIBC Private Wealth Group LLC boosted its stake in shares of Uber Technologies by 72.8% in the third quarter. CIBC Private Wealth Group LLC now owns 49,664 shares of the ride-sharing company’s stock worth $4,866,000 after acquiring an additional 20,919 shares during the period. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of Uber Technologies during the third quarter worth about $27,840,000. Hedge funds and other institutional investors 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.