Uber Technologies (NYSE:UBER) Shares Up 2.7% - Here's Why

Uber Technologies, Inc. (NYSE:UBER - Get Free Report) traded up 2.7% during trading on Thursday . The stock traded as high as $68.87 and last traded at $68.85. 7,958,742 shares traded hands during trading, a decline of 69% from the average session volume of 25,756,650 shares. The stock had previously closed at $67.02.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Tigress Financial upped their price objective on shares of Uber Technologies from $96.00 to $103.00 and gave the stock a "buy" rating in a report on Monday, November 25th. Evercore ISI lifted their target price on Uber Technologies from $90.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. The Goldman Sachs Group reissued a "buy" rating and issued a $96.00 price target on shares of Uber Technologies in a research report on Thursday, January 2nd. KeyCorp dropped their price objective on Uber Technologies from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Friday, November 1st. Finally, Royal Bank of Canada upped their target price on shares of Uber Technologies from $80.00 to $82.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $91.53.

Uber Technologies Stock Up 2.7 %

The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a 50 day moving average price of $66.43 and a 200-day moving average price of $70.41. The stock has a market capitalization of $145.00 billion, a P/E ratio of 34.27, a PEG ratio of 0.71 and a beta of 1.36.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.79. The business had revenue of $11.19 billion for the quarter, compared to analysts' expectations of $10.99 billion. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The business's quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 EPS. As a group, research analysts expect that Uber Technologies, Inc. will post 1.9 EPS for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $72.90, for a total value of $2,025,162.00. Following the completion of the sale, the insider now owns 107,289 shares in the company, valued at approximately $7,821,368.10. This trade represents a 20.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Uber Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. grew its holdings in shares of Uber Technologies by 670.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company's stock worth $398,809,000 after acquiring an additional 5,753,637 shares during the period. Ameriprise Financial Inc. grew its stake in Uber Technologies by 36.5% in the second quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company's stock worth $864,390,000 after purchasing an additional 3,179,308 shares during the period. Edgewood Management LLC raised its holdings in Uber Technologies by 10.5% in the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company's stock worth $2,070,813,000 after purchasing an additional 2,627,768 shares in the last quarter. AMF Tjanstepension AB bought a new position in Uber Technologies in the third quarter worth $163,468,000. Finally, Nordea Investment Management AB lifted its position in Uber Technologies by 1,370.1% during the fourth quarter. Nordea Investment Management AB now owns 2,215,053 shares of the ride-sharing company's stock valued at $134,144,000 after buying an additional 2,064,382 shares during the period. 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.

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