Uber Technologies (NYSE:UBER) Hits New 1-Year High - Here's Why

Uber Technologies, Inc. (NYSE:UBER - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $88.31 and last traded at $88.10, with a volume of 39057142 shares trading hands. The stock had previously closed at $82.81.

Wall Street Analyst Weigh In

UBER has been the subject of a number of analyst reports. UBS Group boosted their price objective on shares of Uber Technologies from $103.00 to $107.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Bank of America boosted their target price on shares of Uber Technologies from $96.00 to $97.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Citigroup raised their price target on Uber Technologies from $92.00 to $102.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Truist Financial boosted their price objective on Uber Technologies from $90.00 to $92.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Finally, Arete Research raised Uber Technologies to a "hold" rating in a report on Tuesday, February 18th. Eleven analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Uber Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $92.69.

Uber Technologies Stock Up 6.4%

The firm has a market capitalization of $184.23 billion, a price-to-earnings ratio of 19.32, a P/E/G ratio of 0.89 and a beta of 1.43. The firm has a fifty day moving average price of $74.95 and a 200 day moving average price of $71.55. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.33. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The company had revenue of $11.53 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the previous year, the firm earned ($0.32) earnings per share. The business's revenue was up 13.8% on a year-over-year basis. Sell-side analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $206,250.00. Following the transaction, the chief financial officer now owns 22,162 shares in the company, valued at $1,662,150. This trade represents a 11.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jill Hazelbaker sold 31,000 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total value of $2,511,620.00. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 79,904 shares of company stock valued at $6,027,619 in the last 90 days. 3.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Uber Technologies

Several large investors have recently bought and sold shares of UBER. Avion Wealth grew its stake in shares of Uber Technologies by 96.0% during the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company's stock worth $26,000 after purchasing an additional 218 shares during the period. Transce3nd LLC acquired a new position in shares of Uber Technologies during the 4th quarter worth about $27,000. Fourth Dimension Wealth LLC bought a new stake in shares of Uber Technologies in the 4th quarter valued at about $27,000. Kozak & Associates Inc. increased its stake in shares of Uber Technologies by 155.9% in the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after acquiring an additional 223 shares during the last quarter. Finally, Noble Wealth Management PBC bought a new position in Uber Technologies during the 1st quarter worth approximately $27,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

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.

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