Uber Technologies (NYSE:UBER) Shares Up 2.7% - Time to Buy?

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

Analyst Ratings Changes

A number of research firms have recently weighed in on UBER. Raymond James began coverage on Uber Technologies in a report on Tuesday, September 24th. They issued a "strong-buy" rating and a $90.00 target price on the stock. Loop Capital raised their target price on Uber Technologies from $84.00 to $86.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. The Goldman Sachs Group restated a "buy" rating and issued a $96.00 target price on shares of Uber Technologies in a report on Thursday, January 2nd. Truist Financial dropped their target price on Uber Technologies from $99.00 to $95.00 and set a "buy" rating on the stock in a report on Friday, November 1st. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $90.00 price target on shares of Uber Technologies in a report on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Uber Technologies presently has an average rating of "Moderate Buy" and an average price target of $91.53.

Uber Technologies Stock Performance

The company has a 50-day moving average of $66.24 and a 200 day moving average of $70.36. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $141.71 billion, a PE ratio of 33.48, a PEG ratio of 0.71 and a beta of 1.36.

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

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of Uber Technologies stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the completion of the sale, the insider now owns 107,289 shares of the company's stock, valued at $7,821,368.10. The trade was a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.80% of the company's stock.

Institutional Investors Weigh In On Uber Technologies

Hedge funds have recently added to or reduced their stakes in the company. Ascent Wealth Partners LLC bought a new stake in shares of Uber Technologies in the 3rd quarter valued at about $2,087,000. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Uber Technologies by 4.4% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 321,726 shares of the ride-sharing company's stock valued at $24,180,000 after acquiring an additional 13,433 shares during the last quarter. Aviso Wealth Management bought a new stake in shares of Uber Technologies in the 3rd quarter valued at about $2,302,000. Brophy Wealth Management LLC bought a new stake in shares of Uber Technologies in the 3rd quarter valued at about $1,041,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Uber Technologies by 9.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,752,471 shares of the ride-sharing company's stock valued at $432,356,000 after acquiring an additional 512,591 shares during the last quarter. 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.