Uber Technologies (NYSE:UBER) Trading Up 5.7% – Here’s Why

Uber Technologies, Inc. (NYSE:UBER)’s stock price rose 5.7% during mid-day trading on Friday . The stock traded as high as $74.56 and last traded at $73.98. Approximately 22,280,421 shares changed hands during trading, a decline of 21% from the average daily volume of 28,263,443 shares. The stock had previously closed at $69.99.

Analyst Ratings Changes

A number of research firms have weighed in on UBER. Benchmark reiterated a “hold” rating on shares of Uber Technologies in a research note on Friday, January 31st. Gordon Haskett raised 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 note on Thursday, October 31st. Citigroup cut their price target on shares of Uber Technologies from $98.00 to $92.00 and set a “buy” rating for the company in a research note on Thursday. BMO Capital Markets reiterated an “outperform” rating and issued a $92.00 price objective on shares of Uber Technologies in a research note on Friday, October 11th. Finally, Daiwa Capital Markets downgraded Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 target price for the company. in a research report on Thursday, October 17th. Seven investment 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $90.19.

Uber Technologies Stock Up 6.8 %

The stock has a market capitalization of $157.43 billion, a price-to-earnings ratio of 37.20, a price-to-earnings-growth ratio of 0.77 and a beta of 1.39. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. The firm’s 50 day simple moving average is $65.28 and its 200-day simple moving average is $70.07.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, beating the consensus estimate of $0.50 by $2.71. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. Equities analysts expect that Uber Technologies, Inc. will post 1.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the firm’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 transaction of $2,025,162.00. Following the completion of the transaction, the insider now owns 107,289 shares in the company, valued at approximately $7,821,368.10. This trade represents a 20.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Avion Wealth increased its holdings in shares of Uber Technologies by 96.0% in the 4th 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 last quarter. GHP Investment Advisors Inc. increased its position in Uber Technologies by 85.1% during the 4th 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 in the last quarter. Kieckhefer Group LLC purchased a new stake in shares of Uber Technologies during the fourth quarter valued at approximately $33,000. Retirement Wealth Solutions LLC bought a new position in Uber Technologies during the fourth quarter valued at approximately $35,000. Finally, Financial Management Professionals Inc. increased 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 valued at $37,000 after purchasing an additional 252 shares during the last quarter. Hedge funds and other 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.