Uber Technologies (NYSE:UBER) Trading 2.1% Higher Following Analyst Upgrade

Uber Technologies, Inc. (NYSE:UBER)’s share price shot up 2.1% on Friday after Wolfe Research raised their price target on the stock from $90.00 to $92.00. Wolfe Research currently has an outperform rating on the stock. Uber Technologies traded as high as $64.54 and last traded at $64.47. 8,957,901 shares traded hands during trading, a decline of 47% from the average session volume of 16,863,773 shares. The stock had previously closed at $63.17.

A number of other equities research analysts also recently weighed in on UBER. BMO Capital Markets reiterated an “outperform” rating and issued a $92.00 target price on shares of Uber Technologies in a report on Friday, October 11th. Gordon Haskett upgraded shares of Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Thursday, October 31st. Jefferies Financial Group increased their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of Uber Technologies in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $96.00 price objective on shares of Uber Technologies in a research report on Thursday. Six 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 company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $91.53.

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the stock in a transaction dated 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 directly owns 107,289 shares in the company, valued at approximately $7,821,368.10. This trade represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.84% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of UBER. CENTRAL TRUST Co grew its holdings in shares of Uber Technologies by 12.3% during the third quarter. CENTRAL TRUST Co now owns 1,160 shares of the ride-sharing company’s stock valued at $87,000 after buying an additional 127 shares during the last quarter. Procyon Advisors LLC grew its stake in Uber Technologies by 2.1% during the 3rd quarter. Procyon Advisors LLC now owns 6,326 shares of the ride-sharing company’s stock valued at $476,000 after purchasing an additional 131 shares during the last quarter. DT Investment Partners LLC increased its holdings in shares of Uber Technologies by 21.4% in the third quarter. DT Investment Partners LLC now owns 821 shares of the ride-sharing company’s stock valued at $62,000 after purchasing an additional 145 shares during the period. Jmac Enterprises LLC raised its stake in shares of Uber Technologies by 2.1% in the third quarter. Jmac Enterprises LLC now owns 7,340 shares of the ride-sharing company’s stock worth $552,000 after purchasing an additional 150 shares during the last quarter. Finally, Wealthspire Advisors LLC lifted its holdings in shares of Uber Technologies by 0.6% during the second quarter. Wealthspire Advisors LLC now owns 24,893 shares of the ride-sharing company’s stock worth $1,809,000 after purchasing an additional 151 shares during the period. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Trading Up 2.2 %

The stock has a 50-day moving average of $67.98 and a 200 day moving average of $70.69. 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 stock has a market cap of $136.01 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 0.75 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $10.99 billion. During the same quarter last year, the business posted $0.10 EPS. The company’s revenue was up 20.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Uber Technologies, Inc. will post 1.89 earnings per share 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.