Uber Technologies (NYSE:UBER) Stock Price Down 1% Following Analyst Downgrade

Shares of Uber Technologies, Inc. (NYSE:UBER - Get Free Report) fell 1% during mid-day trading on Wednesday after Piper Sandler lowered their price target on the stock from $98.00 to $82.00. Piper Sandler currently has an overweight rating on the stock. Uber Technologies traded as low as $67.23 and last traded at $67.39. 4,649,955 shares changed hands during trading, a decline of 80% from the average session volume of 23,645,313 shares. The stock had previously closed at $68.07.

Other research analysts have also issued reports about the company. KeyCorp decreased their price objective on Uber Technologies from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Friday, November 1st. Daiwa Capital Markets downgraded shares of Uber Technologies from an "outperform" rating to a "neutral" rating and set a $84.00 price objective for the company. in a research report on Thursday, October 17th. Gordon Haskett upgraded shares of Uber Technologies from a "hold" rating to a "buy" rating and set a $85.00 target price on the stock in a research report on Thursday, October 31st. Wells Fargo & Company dropped their price objective on shares of Uber Technologies from $97.00 to $90.00 and set an "overweight" rating for the company in a report on Friday, November 1st. Finally, Benchmark reaffirmed a "hold" rating on shares of Uber Technologies in a report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $91.08.

Insider Activity

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the business's 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 directly owns 107,289 shares in the company, valued at $7,821,368.10. This represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.84% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Avion Wealth increased its stake in shares of Uber Technologies by 96.0% during the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company's stock worth $26,000 after buying an additional 218 shares during the period. GHP Investment Advisors Inc. increased its holdings in Uber Technologies by 85.1% in the fourth quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company's stock valued at $29,000 after buying an additional 223 shares during the last quarter. Kieckhefer Group LLC acquired a new stake in Uber Technologies in the fourth quarter valued at $33,000. Retirement Wealth Solutions LLC acquired a new position in shares of Uber Technologies during the 4th quarter worth about $35,000. Finally, Financial Management Professionals Inc. raised its position in shares of Uber Technologies by 104.1% during the 3rd quarter. Financial Management Professionals Inc. now owns 494 shares of the ride-sharing company's stock worth $37,000 after acquiring an additional 252 shares in the last quarter. Institutional investors and hedge funds own 80.24% of the company's stock.

Uber Technologies Trading Down 0.2 %

The business's fifty day simple moving average is $65.77 and its two-hundred day simple moving average is $70.17. 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 company has a market cap of $140.21 billion, a price-to-earnings ratio of 33.13, a PEG ratio of 0.77 and a beta of 1.36.

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, beating analysts' consensus estimates of $0.41 by $0.79. The firm had revenue of $11.19 billion during 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 revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 EPS. On average, equities analysts predict that Uber Technologies, Inc. will post 1.86 EPS for the current year.

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.