Uber Technologies (NYSE:UBER) Trading Up 1% - Here's Why

Shares of Uber Technologies, Inc. (NYSE:UBER - Get Free Report) traded up 1% on Friday . The stock traded as high as $60.89 and last traded at $60.79. 6,650,856 shares were traded during mid-day trading, a decline of 65% from the average session volume of 19,254,332 shares. The stock had previously closed at $60.21.

Wall Street Analysts Forecast Growth

UBER has been the subject of several research reports. Wells Fargo & Company reduced their price target on Uber Technologies from $97.00 to $90.00 and set an "overweight" rating for the company in a report on Friday, November 1st. JMP Securities reissued a "market outperform" rating and issued a $95.00 target price on shares of Uber Technologies in a research report on Wednesday, December 4th. Raymond James assumed coverage on shares of Uber Technologies in a research note on Tuesday, September 24th. They set a "strong-buy" rating and a $90.00 price target on the stock. Tigress Financial lifted their price objective on shares of Uber Technologies from $96.00 to $103.00 and gave the company a "buy" rating in a research note on Monday, November 25th. Finally, Truist Financial lowered their target price on shares of Uber Technologies from $99.00 to $95.00 and set a "buy" rating on the stock in a research report on Friday, November 1st. Six investment analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Uber Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $90.51.

Uber Technologies Stock Up 0.9 %

The stock has a market capitalization of $127.88 billion, a price-to-earnings ratio of 30.21, a price-to-earnings-growth ratio of 0.75 and a beta of 1.33. The firm has a 50 day simple moving average of $72.26 and a 200-day simple moving average of $71.22. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.79. The business had revenue of $11.19 billion during the quarter, compared to analysts' expectations of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The firm's revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the company posted $0.10 EPS. On average, sell-side analysts forecast that Uber Technologies, Inc. will post 1.89 EPS for the current fiscal year.

Insider Transactions at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the stock in a transaction dated 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 owns 107,289 shares of the company's stock, valued at $7,821,368.10. This represents a 20.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Uber Technologies

Large investors have recently modified their holdings of the stock. GHP Investment Advisors Inc. boosted its holdings in Uber Technologies by 222.7% in the second quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company's stock valued at $26,000 after acquiring an additional 245 shares during the last quarter. WR Wealth Planners LLC boosted its stake in shares of Uber Technologies by 563.9% in the 2nd quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company's stock valued at $29,000 after purchasing an additional 344 shares during the last quarter. MCF Advisors LLC grew its position in shares of Uber Technologies by 1,038.5% during the 2nd quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company's stock worth $32,000 after buying an additional 405 shares during the period. Financial Management Professionals Inc. raised its stake in shares of Uber Technologies by 104.1% during the third quarter. Financial Management Professionals Inc. now owns 494 shares of the ride-sharing company's stock worth $37,000 after buying an additional 252 shares during the last quarter. Finally, Fairfield Financial Advisors LTD bought a new position in Uber Technologies in the second quarter valued at approximately $36,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

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.