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

Key Points

• Uber Technologies' shares reached a new 52-week high, trading as high as $101.30 before closing at $100.61 with a trading volume of over 2.4 million shares.
• Analysts have projected bullish targets for Uber, with several firms increasing their price targets, including Cantor Fitzgerald and KeyCorp, now setting targets between $106.00 and $115.00.
• For the latest quarterly earnings, Uber reported an EPS of $0.63, exceeding analysts' expectations, and revenue of $12.65 billion, marking an 18.2% increase year-over-year.

Uber Technologies, Inc. (NYSE:UBER - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $101.30 and last traded at $100.61, with a volume of 2421893 shares traded. The stock had previously closed at $98.51.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC upped their target price on shares of Uber Technologies from $100.00 to $109.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. KeyCorp lifted their price objective on Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Roth Capital upped their target price on shares of Uber Technologies from $93.00 to $110.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Stifel Nicolaus boosted their price target on shares of Uber Technologies from $110.00 to $117.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Finally, Sanford C. Bernstein raised their price objective on shares of Uber Technologies from $95.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, Uber Technologies has an average rating of "Moderate Buy" and an average price target of $103.06.

Uber Technologies Stock Performance

The firm has a market cap of $207.47 billion, a P/E ratio of 16.95 and a beta of 1.43. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. The stock's 50-day moving average is $92.74 and its 200 day moving average is $85.61.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The company had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $12.45 billion. During the same period in the prior year, the company earned $0.47 earnings per share. The company's revenue for the quarter was up 18.2% compared to the same quarter last year. On average, research analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Activity

In other Uber Technologies news, insider Jill Hazelbaker sold 31,250 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total value of $3,013,125.00. Following the sale, the insider owned 86,531 shares in the company, valued at approximately $8,343,319.02. The trade was a 26.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Nikki Krishnamurthy sold 11,571 shares of Uber Technologies stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the completion of the sale, the senior vice president owned 416,222 shares in the company, valued at $38,184,206.28. This trade represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 354,571 shares of company stock worth $33,810,741. 3.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Uber Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kilter Group LLC bought a new position in Uber Technologies in the second quarter valued at approximately $26,000. West Oak Capital LLC acquired a new stake in shares of Uber Technologies in the 2nd quarter valued at approximately $28,000. Trust Co. of Toledo NA OH bought a new position in shares of Uber Technologies in the second quarter valued at $30,000. Total Investment Management Inc. acquired a new position in Uber Technologies during the second quarter worth $32,000. Finally, Noble Wealth Management PBC bought a new stake in Uber Technologies during the first quarter worth $27,000. 80.24% of the stock is owned by institutional investors.

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.