Uber Technologies (NYSE:UBER) Reaches New 12-Month High - Should You Buy?

Key Points

• Uber Technologies reached a new **52-week high** of $98.51, with analysts showing positive sentiment as several firms raised their price targets, including Wells Fargo increasing theirs to **$127.00**.
• The ride-sharing company reported **$12.65 billion** in revenue for the last quarter, exceeding expectations, and achieved earnings per share of **$0.63**, surpassing the consensus estimate of **$0.61**.
• Institutional investors hold **80.24%** of Uber's stock, indicating strong confidence in the company's growth, with significant new stakes from firms like Pershing Square Capital Management and Norges Bank.

Uber Technologies, Inc. (NYSE:UBER - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $98.51 and last traded at $97.75, with a volume of 4457912 shares traded. The stock had previously closed at $95.89.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on UBER. Wells Fargo & Company increased their price objective on Uber Technologies from $119.00 to $127.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. Cantor Fitzgerald restated an "overweight" rating and issued a $106.00 price target (up from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. Bank of America raised their price target on Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Roth Capital raised their price target on Uber Technologies from $93.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Finally, BMO Capital Markets raised their price objective on Uber Technologies from $101.00 to $113.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, Uber Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $103.06.

Uber Technologies Price Performance

The stock has a market capitalization of $206.02 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 1.10 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 company has a fifty day simple moving average of $92.62 and a two-hundred day simple moving average of $84.71.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating 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 firm had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $12.45 billion. During the same period in the previous year, the firm earned $0.47 EPS. The company's quarterly revenue was up 18.2% compared to the same quarter last year. As a group, equities research analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 31,250 shares of Uber Technologies stock in a transaction 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 transaction, the insider owned 86,531 shares in the company, valued at approximately $8,343,319.02. This trade represents a 26.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction on Monday, July 7th. The shares were sold at an average price of $95.00, for a total value of $261,250.00. Following the completion of the transaction, the chief financial officer owned 21,975 shares in the company, valued at approximately $2,087,625. The trade was a 11.12% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,696 shares of company stock worth $4,632,774. 3.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Uber Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of UBER. Pershing Square Capital Management L.P. bought a new stake in Uber Technologies during the 1st quarter worth $2,207,743,000. Norges Bank bought a new stake in shares of Uber Technologies in the 2nd quarter valued at about $2,348,319,000. Kingstone Capital Partners Texas LLC grew its position in shares of Uber Technologies by 334,075.7% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company's stock valued at $1,863,545,000 after buying an additional 19,967,705 shares during the last quarter. Pacer Advisors Inc. grew its position 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 buying an additional 6,254,898 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Uber Technologies by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock valued at $13,590,287,000 after buying an additional 5,759,353 shares during the last quarter. Institutional investors own 80.24% of the company's stock.

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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