Uber Technologies (NYSE:UBER) Stock Price Up 0.2% – Time to Buy?

Shares of Uber Technologies, Inc. (NYSE:UBER) traded up 0.2% during mid-day trading on Thursday . The stock traded as high as $68.07 and last traded at $67.93. 4,026,615 shares were traded during mid-day trading, a decline of 84% from the average session volume of 24,975,119 shares. The stock had previously closed at $67.82.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wolfe Research lifted their price objective on shares of Uber Technologies from $90.00 to $92.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. JMP Securities lowered shares of Uber Technologies from an “outperform” rating to a “market perform” rating and set a $95.00 price objective for the company. in a research note on Thursday, January 2nd. Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of Uber Technologies in a research report on Thursday, October 31st. Truist Financial cut their target price on shares of Uber Technologies from $99.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Finally, Gordon Haskett raised shares of Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Thursday, October 31st. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $91.53.

Uber Technologies Price Performance

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 market cap of $143.48 billion, a P/E ratio of 33.87, a P/E/G ratio of 0.73 and a beta of 1.36. The company’s 50 day simple moving average is $66.02 and its 200 day simple moving average is $70.29.

Uber Technologies (NYSE:UBER) last issued its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, beating the consensus estimate of $0.41 by $0.79. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The firm had revenue of $11.19 billion during the quarter, compared to the consensus estimate of $10.99 billion. During the same quarter in the prior year, the firm earned $0.10 earnings per share. The business’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, equities analysts forecast that Uber Technologies, Inc. will post 1.91 earnings per share for the current year.

Insider Buying and Selling at Uber Technologies

In other news, insider Jill Hazelbaker sold 27,780 shares of the stock in a transaction on 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 completion of the sale, the insider now owns 107,289 shares of the company’s stock, valued at $7,821,368.10. This represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its position in Uber Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 42,500,359 shares of the ride-sharing company’s stock valued at $3,184,013,000 after purchasing an additional 893,652 shares in the last quarter. Edgewood Management LLC grew its position 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 in the last quarter. Legal & General Group Plc grew its position in 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 purchasing an additional 237,976 shares in the last quarter. Janus Henderson Group PLC grew its position in Uber Technologies by 18.3% in the third quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock valued at $998,767,000 after purchasing 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% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,498,209 shares of the ride-sharing company’s stock valued at $939,365,000 after purchasing an additional 1,601,747 shares in 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.