Uber Technologies (NYSE:UBER) Stock Price Up 1.5% – Still a Buy?

Shares of Uber Technologies, Inc. (NYSE:UBER) shot up 1.5% during trading on Thursday . The stock traded as high as $75.54 and last traded at $75.32. 3,776,339 shares were traded during mid-day trading, a decline of 81% from the average session volume of 19,608,414 shares. The stock had previously closed at $74.18.

Wall Street Analyst Weigh In

UBER has been the subject of several recent analyst reports. Arete Research upgraded Uber Technologies to a “hold” rating in a research note on Tuesday, February 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price on shares of Uber Technologies in a report on Wednesday, February 5th. UBS Group reissued a “buy” rating on shares of Uber Technologies in a report on Friday, February 21st. Piper Sandler reaffirmed an “overweight” rating and set a $87.00 price objective (up from $80.00) on shares of Uber Technologies in a research note on Tuesday, February 18th. Finally, Truist Financial increased their target price on Uber Technologies from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Uber Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $90.31.

Uber Technologies Trading Up 0.6 %

The firm has a market cap of $155.94 billion, a price-to-earnings ratio of 16.37, a P/E/G ratio of 0.89 and a beta of 1.39. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The business has a 50-day moving average of $73.21 and a 200-day moving average of $71.69.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, topping the consensus estimate of $0.50 by $2.71. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. Research analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Activity

In other news, insider Jill Hazelbaker sold 31,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total value of $2,511,620.00. Following the transaction, the insider now directly owns 86,973 shares of the company’s stock, valued at $7,046,552.46. This represents a 26.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tony West sold 23,404 shares of Uber Technologies stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the sale, the insider now directly owns 114,241 shares of the company’s stock, valued at $8,027,715.07. The trade was a 17.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,154 shares of company stock valued at $5,793,869. 3.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On Uber Technologies

A number of large investors have recently made changes to their positions in the company. Mascagni Wealth Management Inc. acquired a new position in Uber Technologies in the 4th quarter valued at $44,000. Chancellor Financial Group WB LP acquired a new stake in Uber Technologies in the 4th quarter worth about $223,000. Lansforsakringar Fondforvaltning AB publ acquired a new stake in Uber Technologies in the 4th quarter worth about $37,476,000. Centaurus Financial Inc. boosted its holdings in Uber Technologies by 438.7% in the 4th quarter. Centaurus Financial Inc. now owns 94,127 shares of the ride-sharing company’s stock valued at $5,678,000 after purchasing an additional 76,653 shares during the period. Finally, Castle Rock Wealth Management LLC acquired a new position in shares of Uber Technologies during the 4th quarter worth approximately $1,115,000. 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.