Uber Technologies (NYSE:UBER) Stock Price Up 0.7% Following Analyst Upgrade

Shares of Uber Technologies, Inc. (NYSE:UBER) traded up 0.7% on Friday after UBS Group raised their price target on the stock from $103.00 to $107.00. UBS Group currently has a buy rating on the stock. Uber Technologies traded as high as $84.12 and last traded at $82.87. 5,229,460 shares were traded during trading, a decline of 74% from the average session volume of 20,122,094 shares. The stock had previously closed at $82.30.

A number of other equities research analysts also recently weighed in on UBER. JPMorgan Chase & Co. boosted their price objective on shares of Uber Technologies from $80.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday. Raymond James increased their price target on Uber Technologies from $95.00 to $100.00 and gave the stock a “strong-buy” rating in a research report on Thursday. Fox Advisors lowered Uber Technologies from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, March 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $82.00 target price on shares of Uber Technologies in a research report on Monday, May 5th. Finally, DA Davidson boosted their price target on shares of Uber Technologies from $80.00 to $98.00 and gave the company a “buy” rating in a report on Thursday. Eleven investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Uber Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $92.69.

Insider Buying and Selling at Uber Technologies

In other news, SVP Nikki Krishnamurthy sold 20,000 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $71.57, for a total transaction of $1,431,400.00. Following the transaction, the senior vice president now owns 361,908 shares in the company, valued at $25,901,755.56. This represents a 5.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $206,250.00. Following the completion of the sale, the chief financial officer now directly owns 22,162 shares of the company’s stock, valued at approximately $1,662,150. The trade was a 11.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,904 shares of company stock worth $6,027,619. 3.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Uber Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Research Global Investors lifted its position in Uber Technologies by 79.0% in the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock worth $7,125,728,000 after purchasing an additional 52,125,476 shares during the period. Norges Bank bought a new stake in Uber Technologies in the fourth quarter valued at about $1,467,754,000. Jennison Associates LLC raised its position in Uber Technologies by 36.9% in the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after purchasing an additional 7,137,512 shares in the last quarter. Boston Partners bought a new position in Uber Technologies during the fourth quarter worth about $381,057,000. Finally, Pacer Advisors Inc. boosted its stake in shares of Uber Technologies by 2,571.2% in the 1st quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company’s stock valued at $473,456,000 after purchasing an additional 6,254,898 shares in the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Trading Up 0.4 %

The firm has a market cap of $172.78 billion, a P/E ratio of 18.11, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. The company’s fifty day moving average price is $74.72 and its two-hundred day moving average price is $71.59.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.33. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. The firm had revenue of $11.53 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the prior year, the firm earned ($0.32) earnings per share. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, sell-side analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

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.