Uber Technologies (NYSE:UBER) Trading Down 1% – What’s Next?

Uber Technologies, Inc. (NYSE:UBER) shares fell 1% during trading on Thursday . The company traded as low as $60.61 and last traded at $60.63. 7,698,206 shares were traded during mid-day trading, a decline of 60% from the average session volume of 19,220,570 shares. The stock had previously closed at $61.23.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Benchmark reiterated a “hold” rating on shares of Uber Technologies in a research report on Friday, November 1st. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 target price on shares of Uber Technologies in a research report on Wednesday. Wells Fargo & Company lowered their price target on Uber Technologies from $97.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Daiwa Capital Markets cut shares of Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 price objective on the stock. in a research report on Thursday, October 17th. Finally, UBS Group upped their target price on shares of Uber Technologies from $102.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. 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 currently has an average rating of “Moderate Buy” and a consensus target price of $90.51.

Uber Technologies Stock Performance

The company has a market cap of $126.95 billion, a P/E ratio of 30.00, a P/E/G ratio of 0.75 and a beta of 1.33. 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 business has a 50-day moving average of $72.62 and a two-hundred day moving average of $71.30.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results 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 net margin of 10.49% and a return on equity of 33.46%. The business had revenue of $11.19 billion for the quarter, compared to analysts’ expectations of $10.99 billion. During the same period last year, the business earned $0.10 EPS. The company’s revenue was up 20.4% compared to the same quarter last year. On average, sell-side analysts predict that Uber Technologies, Inc. will post 1.89 EPS for the current fiscal year.

Insider Activity at Uber Technologies

In other news, insider Jill Hazelbaker sold 27,780 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $72.90, for a total value of $2,025,162.00. Following the sale, the insider now directly owns 107,289 shares of the company’s stock, valued at approximately $7,821,368.10. The trade was a 20.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.80% of the stock is owned by company insiders.

Institutional Trading of Uber Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in Uber Technologies by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 42,500,359 shares of the ride-sharing company’s stock worth $3,184,013,000 after purchasing an additional 893,652 shares in the last quarter. Edgewood Management LLC increased its stake 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 valued at $2,070,813,000 after purchasing an additional 2,627,768 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Uber Technologies by 1.6% in the second quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock valued at $1,107,529,000 after buying an additional 237,976 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Uber Technologies by 18.3% during the third quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock worth $998,767,000 after buying an additional 2,056,273 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Uber Technologies by 14.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,498,209 shares of the ride-sharing company’s stock worth $939,365,000 after buying an additional 1,601,747 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

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.