Uber Technologies (NYSE:UBER) Hits New 1-Year High on Analyst Upgrade

Uber Technologies, Inc. (NYSE:UBER - Get Free Report) reached a new 52-week high during trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $92.00 to $105.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Uber Technologies traded as high as $93.60 and last traded at $91.84, with a volume of 20827552 shares traded. The stock had previously closed at $92.46.

Several other research firms also recently weighed in on UBER. KGI Securities reissued a "neutral" rating and set a $78.00 target price on shares of Uber Technologies in a research report on Tuesday, March 11th. Piper Sandler reissued an "overweight" rating and set a $87.00 target price (up previously from $80.00) on shares of Uber Technologies in a research report on Tuesday, February 18th. Royal Bank of Canada reissued an "outperform" rating and set a $82.00 target price on shares of Uber Technologies in a research report on Monday, May 5th. Truist Financial boosted their price objective on Uber Technologies from $90.00 to $92.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Finally, KeyCorp boosted their price objective on Uber Technologies from $80.00 to $90.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $93.09.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, 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 value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction on Monday, May 12th. The shares were sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the completion of the sale, the insider now directly owns 102,135 shares of the company's stock, valued at approximately $8,786,674.05. This trade represents a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 83,788 shares of company stock valued at $6,517,070 in the last three months. 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 bought and sold shares of UBER. Capital Research Global Investors increased its position in shares of Uber Technologies by 79.0% during 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 acquiring an additional 52,125,476 shares in the last quarter. Pershing Square Capital Management L.P. bought a new stake in shares of Uber Technologies during the first quarter worth about $2,207,743,000. Norges Bank bought a new stake in shares of Uber Technologies during the fourth quarter worth about $1,467,754,000. Jennison Associates LLC increased its position in shares of Uber Technologies by 36.9% during 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 acquiring an additional 7,137,512 shares in the last quarter. Finally, Boston Partners bought a new stake in shares of Uber Technologies during the fourth quarter worth about $381,057,000. 80.24% of the stock is owned by institutional investors.

Uber Technologies Trading Down 0.7%

The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The firm's 50-day moving average price is $77.21 and its 200 day moving average price is $72.21. The company has a market capitalization of $192.05 billion, a P/E ratio of 20.14, a P/E/G ratio of 0.89 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS 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 company had revenue of $11.53 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the previous year, the firm posted ($0.32) earnings per share. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. As a group, equities research analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

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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