Uber Technologies (NYSE:UBER) Stock Falls 1.6% – Here’s What Happened

Uber Technologies, Inc. (NYSE:UBER)’s share price dropped 1.6% during trading on Tuesday. The company traded as low as $69.19 and last traded at $70.01. Approximately 12,310,660 shares traded hands during trading, a decline of 35% from the average daily volume of 19,006,303 shares. The stock had previously closed at $71.17.

More Uber Technologies News

Here are the key news stories impacting Uber Technologies this week:

• Positive Sentiment: Amazon partnership could expand Uber Eats. Amazon Prime members will receive free delivery on eligible restaurant orders, potentially bringing Uber Eats more customers and increasing order volume. Uber Joins with Amazon on Food Delivery
• Positive Sentiment: McDonald’s is expanding its Uber partnership across 14 markets. Uber will be a preferred integrated delivery provider for McDonald’s app orders in key countries, with connected loyalty programs. The multiyear deal could generate more orders and strengthen Uber’s position against delivery rivals. McDonald’s Expands Uber Partnership in 14 Markets
• Positive Sentiment: Analysts and investors voiced confidence in Uber’s upside. Citigroup initiated coverage with a Buy rating and a $105 target, while Evercore ISI maintained an Outperform rating and $150 target. Investor Jason Calacanis also disclosed another $1 million purchase, citing his valuation view and Uber’s Waymo relationship. Evercore ISI’s Uber Price Target
• Positive Sentiment: Uber launched parking reservations in 15 U.S. cities following its SpotHero acquisition, adding another service to its app and a potential source of customer engagement and revenue. Uber Debuts Parking Reservation Feature
• Negative Sentiment: Operating and outlook risks remain in focus. Recent coverage flagged concerns about Uber’s fourth-quarter outlook and driver-supply constraints in some markets. A senior engineering executive overseeing robotaxi partnerships and core services is also leaving, adding to reports of recent departures. Uber Growth and Q4 Outlook Concerns

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on UBER. Arete Research cut shares of Uber Technologies from a “buy” rating to a “neutral” rating and set a $74.00 target price on the stock. in a report on Thursday, September 10th. Rosenblatt Securities lowered their target price on shares of Uber Technologies from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, November 5th. Roth Capital cut their price target on Uber Technologies from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Needham & Company LLC decreased their price target on Uber Technologies from $109.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, November 5th. Finally, BNP Paribas Exane lowered their price objective on Uber Technologies from $108.00 to $106.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $102.08.

Uber Technologies Price Performance

The stock has a fifty day simple moving average of $69.98 and a two-hundred day simple moving average of $72.96. The company has a market cap of $143.00 billion, a PE ratio of 41.43, a price-to-earnings-growth ratio of 6.68 and a beta of 1.33. The company has a current ratio of 1.23, a quick ratio of 0.84 and a debt-to-equity ratio of 0.55.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, November 4th. The ride-sharing company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. The business had revenue of $14.77 billion for the quarter, compared to analysts’ expectations of $14.66 billion. Uber Technologies had a net margin of 6.13% and a return on equity of 21.37%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the company posted $3.11 EPS. On average, equities analysts predict that Uber Technologies, Inc. will post 3.11 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Andrew Macdonald purchased 70,000 shares of the firm’s stock in a transaction dated Friday, September 4th. The shares were acquired at an average price of $75.83 per share, with a total value of $5,308,100.00. Following the purchase, the insider directly owned 426,320 shares of the company’s stock, valued at $32,327,845.60. The trade was a 19.65% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jill Hazelbaker sold 28,170 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $71.31, for a total value of $2,008,802.70. Following the completion of the sale, the insider owned 149,525 shares in the company, valued at approximately $10,662,627.75. This represents a 15.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.81% of the stock is owned by insiders.

Institutional Trading of Uber Technologies

A number of institutional investors have recently bought and sold shares of the company. Public Sector Pension Investment Board raised its stake in shares of Uber Technologies by 88.1% during the 3rd quarter. Public Sector Pension Investment Board now owns 680,352 shares of the ride-sharing company’s stock worth $48,533,000 after buying an additional 318,667 shares during the last quarter. Global Retirement Partners LLC grew its stake in Uber Technologies by 2.0% in the 3rd quarter. Global Retirement Partners LLC now owns 80,242 shares of the ride-sharing company’s stock valued at $5,497,000 after acquiring an additional 1,555 shares during the last quarter. California First Leasing Corp grew its stake in Uber Technologies by 46.3% in the 3rd quarter. California First Leasing Corp now owns 113,103 shares of the ride-sharing company’s stock valued at $7,749,000 after acquiring an additional 35,773 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in Uber Technologies by 2.9% in the 3rd quarter. Pictet Asset Management Holding SA now owns 3,342,977 shares of the ride-sharing company’s stock valued at $229,027,000 after acquiring an additional 94,508 shares during the last quarter. Finally, Formidable Asset Management LLC increased its holdings in Uber Technologies by 5.2% during the 3rd quarter. Formidable Asset Management LLC now owns 24,653 shares of the ride-sharing company’s stock valued at $1,779,000 after acquiring an additional 1,222 shares in the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

About Uber Technologies

Uber Technologies, Inc. operates a technology platform that connects people seeking transportation and delivery services with drivers, couriers, merchants and other providers. Its offerings include rides through the Uber app and food and grocery delivery through Uber Eats. The company also provides logistics services through Uber Freight, which connects shippers with carriers and offers tools for managing freight transportation. Uber’s platform serves users and businesses across markets in North America, Latin America, Europe, the Middle East, Africa and Asia-Pacific.