Uber Technologies (NYSE:UBER) Shares Down 1.1% - Here's Why

Key Points

• Uber Technologies' shares fell by 1.1% during mid-day trading, with a last trading price of $91.91.
• Despite the recent decline in stock price, analysts continue to maintain a positive outlook with a consensus price target of $102.82 and multiple "buy" ratings from notable firms.
• The company reported solid quarterly earnings, with an earnings per share of $0.63, exceeding analyst expectations, and revenue growth of 18.2% year-over-year.

Uber Technologies, Inc. (NYSE:UBER - Get Free Report) shares dropped 1.1% during mid-day trading on Thursday . The stock traded as low as $90.93 and last traded at $91.91. Approximately 4,653,154 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 21,533,355 shares. The stock had previously closed at $92.94.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Cowen restated a "buy" rating on shares of Uber Technologies in a report on Thursday, August 7th. Piper Sandler raised their price target on shares of Uber Technologies from $95.00 to $103.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Bank of America raised their price target on shares of Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Susquehanna raised their price target on shares of Uber Technologies from $100.00 to $105.00 and gave the company a "positive" rating in a report on Thursday, August 7th. Finally, Loop Capital restated a "buy" rating and issued a $105.00 price target (up previously from $89.00) on shares of Uber Technologies in a report on Wednesday, May 21st. One investment 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 company. According to MarketBeat, Uber Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $102.82.

Uber Technologies Price Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $192.03 billion, a price-to-earnings ratio of 15.69, a P/E/G ratio of 1.08 and a beta of 1.43. The business's 50-day moving average price is $92.43 and its two-hundred day moving average price is $83.95.

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

Insider Activity

In other Uber Technologies news, insider Jill Hazelbaker sold 31,250 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $96.42, for a total transaction 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $95.00, for a total value of $261,250.00. Following the sale, 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 three months, insiders sold 48,696 shares of company stock worth $4,632,774. 3.84% of the stock is owned by insiders.

Hedge Funds Weigh In On Uber Technologies

A number of large investors have recently made changes to their positions in the business. Kilter Group LLC bought a new stake in shares of Uber Technologies in the 2nd quarter valued at approximately $26,000. West Oak Capital LLC bought 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 stake in shares of Uber Technologies in the 2nd quarter valued at approximately $30,000. Total Investment Management Inc. bought a new stake in shares of Uber Technologies in the 2nd quarter valued at approximately $32,000. Finally, Noble Wealth Management PBC bought a new stake in shares of Uber Technologies in the 1st quarter valued at approximately $27,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.