Uber Technologies (NYSE:UBER) Shares Gap Down - Here's Why

Shares of Uber Technologies, Inc. (NYSE:UBER - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $79.43, but opened at $74.50. Uber Technologies shares last traded at $73.46, with a volume of 10,039,879 shares trading hands.

Analysts Set New Price Targets

Several analysts have weighed in on UBER shares. Oppenheimer lifted their price objective on shares of Uber Technologies from $90.00 to $95.00 and gave the stock an "outperform" rating in a research note on Friday, September 27th. Daiwa America cut Uber Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 17th. Benchmark assumed coverage on Uber Technologies in a research report on Friday, October 25th. They set a "hold" rating on the stock. Melius Research began coverage on Uber Technologies in a report on Monday, July 22nd. They issued a "hold" rating and a $77.00 price objective for the company. Finally, Roth Mkm increased their target price on Uber Technologies from $89.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $88.86.

Uber Technologies Price Performance

The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.72. The stock has a market cap of $147.15 billion, a P/E ratio of 80.73, a price-to-earnings-growth ratio of 1.33 and a beta of 1.33. The business has a 50-day simple moving average of $75.40 and a 200 day simple moving average of $70.87.

Uber Technologies (NYSE:UBER - Get Free Report) last released its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.16. The business had revenue of $10.70 billion during the quarter, compared to the consensus estimate of $10.57 billion. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The company's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 EPS. On average, analysts forecast that Uber Technologies, Inc. will post 1.1 earnings per share for the current year.

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of Uber Technologies stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $72.00, for a total value of $2,880,000.00. Following the completion of the sale, the insider now directly owns 127,352 shares in the company, valued at approximately $9,169,344. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.80% of the company's stock.

Institutional Investors Weigh In On Uber Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Aptus Capital Advisors LLC lifted its holdings in shares of Uber Technologies by 17.1% in the 2nd quarter. Aptus Capital Advisors LLC now owns 9,468 shares of the ride-sharing company's stock worth $688,000 after purchasing an additional 1,383 shares in the last quarter. Lederer & Associates Investment Counsel CA bought a new position in shares of Uber Technologies in the third quarter valued at $799,000. Samlyn Capital LLC acquired a new position in shares of Uber Technologies during the second quarter valued at about $134,987,000. Brookstone Capital Management grew its holdings in shares of Uber Technologies by 19.0% during the second quarter. Brookstone Capital Management now owns 161,494 shares of the ride-sharing company's stock valued at $11,082,000 after buying an additional 25,814 shares during the last quarter. Finally, Hedeker Wealth LLC bought a new stake in shares of Uber Technologies during the third quarter worth about $6,519,000. 80.24% of the stock is owned by institutional investors.

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.

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