Uber Technologies (NYSE:UBER) Stock Price Up 1% - Should You Buy?

Key Points

• Uber shares rose 1% to about $70.78, on trading volume 18% below the average.
• Uber topped quarterly EPS and revenue estimates, with revenue up 9.6% year over year. Analysts’ consensus rating is Moderate Buy, with an average price target of $102.08.
• An Amazon partnership could bring more customers to Uber Eats, while concerns about autonomous-vehicle competition and the fourth-quarter outlook remain risks.

Shares of Uber Technologies, Inc. (NYSE:UBER - Get Free Report) traded up 1% during trading on Wednesday. The company traded as high as $71.09 and last traded at $70.7750. Approximately 15,513,228 shares traded hands during mid-day trading, a decline of 18% from the average daily volume of 19,002,914 shares. The stock had previously closed at $70.05.

Trending Headlines about Uber Technologies

These are some of the UBER headlines that stood out recently:

• Positive Sentiment: Amazon is partnering with Uber to offer Prime members free delivery on eligible restaurant orders. The arrangement could expose Uber Eats to more customers and drive incremental order volume. Article: Uber Joins with Amazon on Food Delivery
• Positive Sentiment: Evercore ISI maintained an Outperform rating and a $150 price target after Uber’s third-quarter report, signaling substantial potential upside in the analyst’s view. Article: Evercore ISI’s $150 Target Says Uber’s Selloff Went Too Far
• Negative Sentiment: A Seeking Alpha article downgraded Uber, framing autonomous vehicles as a major disruption risk. Coverage also points to concerns about Uber’s fourth-quarter outlook; pressure on growth expectations or confidence in its ability to compete could weigh on the shares. Article: Uber: Facing The Ultimate Disruption Test

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Daiwa Securities Group reduced their price objective on shares of Uber Technologies from $80.00 to $72.00 and set a "neutral" rating on the stock in a research note on Thursday, August 6th. Rosenblatt Securities lowered their target price on shares of Uber Technologies from $100.00 to $95.00 and set a "buy" rating for the company in a research note on Thursday, November 5th. Evercore reiterated an "outperform" rating and issued a $150.00 target price on shares of Uber Technologies in a report on Wednesday, August 5th. Piper Sandler reissued an "overweight" rating and issued a $100.00 price target (down from $110.00) on shares of Uber Technologies in a report on Thursday, August 13th. Finally, Wedbush restated an "outperform" rating and issued a $91.00 price objective on shares of Uber Technologies in a research report on Thursday, November 5th. One research analyst has rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $102.08.

Uber Technologies Stock Performance

The stock has a market capitalization of $144.52 billion, a price-to-earnings ratio of 41.88, a price-to-earnings-growth ratio of 2.78 and a beta of 1.33. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.55. The stock's 50 day moving average is $69.87 and its two-hundred day moving average is $72.90.

Uber Technologies (NYSE:UBER - Get Free Report) last released its earnings results on Wednesday, November 4th. The ride-sharing company reported $0.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.86 by $0.02. The firm had revenue of $14.77 billion during the quarter, compared to analysts' expectations of $14.66 billion. Uber Technologies had a return on equity of 21.37% and a net margin of 6.13%. The company's revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.11 EPS. Analysts expect that Uber Technologies, Inc. will post 3.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Andrew Macdonald bought 70,000 shares of the company's stock in a transaction that occurred on Friday, September 4th. The shares were acquired at an average price of $75.83 per share, with a total value of $5,308,100.00. Following the transaction, the insider owned 426,320 shares in the company, valued at $32,327,845.60. This represents a 19.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dara Khosrowshahi bought 141,000 shares of the business's stock in a transaction on Thursday, September 10th. The stock was purchased at an average price of $70.96 per share, for a total transaction of $10,005,360.00. Following the purchase, the chief executive officer directly owned 1,367,100 shares in the company, valued at approximately $97,009,416. This represents a 11.50% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 3.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in UBER. Advisors Asset Management Inc. acquired a new position in Uber Technologies during the third quarter valued at approximately $21,836,000. Beta Wealth Group Inc. raised its stake in shares of Uber Technologies by 5.6% during the 3rd quarter. Beta Wealth Group Inc. now owns 7,500 shares of the ride-sharing company's stock worth $514,000 after purchasing an additional 400 shares in the last quarter. Private Wealth Asset Management LLC raised its stake in shares of Uber Technologies by 28.8% during the 3rd quarter. Private Wealth Asset Management LLC now owns 16,229 shares of the ride-sharing company's stock worth $1,113,000 after purchasing an additional 3,632 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of Uber Technologies by 88.1% in the 3rd quarter. Public Sector Pension Investment Board now owns 680,352 shares of the ride-sharing company's stock valued at $48,533,000 after buying an additional 318,667 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in shares of Uber Technologies by 2.0% in the 3rd quarter. Global Retirement Partners LLC now owns 80,242 shares of the ride-sharing company's stock valued at $5,497,000 after buying an additional 1,555 shares during the last quarter. Institutional investors and hedge funds own 80.24% of the company's stock.

About Uber Technologies

Uber Technologies, Inc. operates a technology platform that connects people seeking transportation and delivery services with drivers, couriers, merchants and other providers. Its offerings include rides through the Uber app and food and grocery delivery through Uber Eats. The company also provides logistics services through Uber Freight, which connects shippers with carriers and offers tools for managing freight transportation. Uber's platform serves users and businesses across markets in North America, Latin America, Europe, the Middle East, Africa and Asia-Pacific.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.