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Uber Technologies (NYSE:UBER) Shares Up 1.1% - Time to Buy?

Uber Technologies logo with Computer and Technology background

Key Points

  • Shares of Uber Technologies rose by 1.1% to $87.85, with a total of 4,038,466 shares traded, a significant decline from the average session volume.
  • Analysts have a positive outlook on Uber, with 29 buy ratings and a consensus price target of $100.71, reflecting strong market confidence.
  • In recent insider trading, CFO Prashanth Mahendra-Rajah sold 2,750 shares, decreasing his stake by 11.12%, amid significant hedge fund interest with over 80% ownership in the company.
  • MarketBeat previews the top five stocks to own by September 1st.

Uber Technologies, Inc. (NYSE:UBER - Get Free Report) shot up 1.1% during mid-day trading on Monday . The stock traded as high as $88.42 and last traded at $87.85. 4,038,466 shares were traded during trading, a decline of 82% from the average session volume of 22,109,389 shares. The stock had previously closed at $86.91.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Stifel Nicolaus raised their target price on shares of Uber Technologies from $110.00 to $117.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. The Goldman Sachs Group raised their target price on shares of Uber Technologies from $96.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Citigroup lifted their price target on shares of Uber Technologies from $92.00 to $102.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Wedbush reiterated a "neutral" rating and set a $85.00 price target on shares of Uber Technologies in a research note on Friday. Finally, Bank of America lifted their price target on shares of Uber Technologies from $97.00 to $115.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Ten equities research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. According to MarketBeat.com, Uber Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $100.71.

View Our Latest Stock Report on UBER

Uber Technologies Trading Up 1.9%

The firm has a market capitalization of $185.20 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 1.00 and a beta of 1.43. The business's 50-day simple moving average is $89.12 and its two-hundred day simple moving average is $80.47. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.33. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The business had revenue of $11.53 billion during the quarter, compared to analysts' expectations of $11.61 billion. During the same period last year, the business earned ($0.32) earnings per share. The business's revenue for the quarter was up 13.8% on a year-over-year basis. Equities analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Buying and Selling

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $95.00, for a total transaction 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. This represents a 11.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jill Hazelbaker sold 34,884 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the transaction, the insider owned 102,135 shares of the company's stock, valued at approximately $8,786,674.05. The trade was a 25.46% decrease in their position. The disclosure for this sale can be found here. 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 UBER. Brighton Jones LLC boosted its stake in shares of Uber Technologies by 3.4% during the 4th quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company's stock worth $4,491,000 after purchasing an additional 2,474 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in shares of Uber Technologies by 65.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock worth $939,000 after acquiring an additional 6,129 shares during the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in shares of Uber Technologies in the fourth quarter worth approximately $395,000. World Investment Advisors boosted its position in shares of Uber Technologies by 76.9% in the fourth quarter. World Investment Advisors now owns 20,824 shares of the ride-sharing company's stock worth $1,256,000 after acquiring an additional 9,051 shares during the last quarter. Finally, Oarsman Capital Inc. boosted its position in shares of Uber Technologies by 7.3% in the fourth quarter. Oarsman Capital Inc. now owns 5,004 shares of the ride-sharing company's stock worth $302,000 after acquiring an additional 342 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company's stock.

About Uber Technologies

(Get Free Report)

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.

Further Reading

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.

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