Uber Technologies (NYSE:UBER) Shares Up 1.6% - Here's Why

Key Points

• Uber Technologies' shares increased by 1.6% during mid-day trading, reaching a high of $95.98 before closing at $95.45.
• The company reported quarterly earnings of $0.63 per share, exceeding analysts' expectations of $0.61, and its revenue grew by 18.2% year-over-year to $12.65 billion.
• Currently, Uber holds an average analyst rating of "Moderate Buy" with a target price of $102.82, supported by numerous "buy" ratings from major financial institutions.

Uber Technologies, Inc. (NYSE:UBER - Get Free Report) shares rose 1.6% during mid-day trading on Tuesday . The company traded as high as $95.98 and last traded at $95.45. Approximately 5,421,243 shares traded hands during trading, a decline of 75% from the average daily volume of 22,020,566 shares. The stock had previously closed at $93.98.

Analyst Ratings Changes

UBER has been the topic of a number of analyst reports. Tigress Financial set a $110.00 price objective on shares of Uber Technologies and gave the company a "buy" rating in a research note on Friday, May 23rd. JMP Securities reaffirmed a "market perform" rating on shares of Uber Technologies in a report on Thursday, May 15th. Citigroup lifted their price objective on shares of Uber Technologies from $92.00 to $102.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Cowen reissued a "buy" rating on shares of Uber Technologies in a report on Thursday, August 7th. Finally, Needham & Company LLC boosted their price target on shares of Uber Technologies from $100.00 to $109.00 and gave the company a "buy" rating in a report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $102.82.

Uber Technologies Stock Up 1.0%

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 market capitalization of $198.03 billion, a price-to-earnings ratio of 16.17, a P/E/G ratio of 1.06 and a beta of 1.43. The stock's fifty day simple moving average is $90.33 and its two-hundred day simple moving average is $82.27.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating 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 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 EPS. Uber Technologies's revenue was up 18.2% on a year-over-year basis. On average, sell-side analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insiders Place Their Bets

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction dated 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 sale, the chief financial officer directly owned 21,975 shares of the company's stock, valued at approximately $2,087,625. This represents a 11.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.70% of the company's stock.

Institutional Trading of Uber Technologies

A number of hedge funds have recently bought and sold shares of the company. Nova Wealth Management Inc. lifted its position in shares of Uber Technologies by 41.0% in the first quarter. Nova Wealth Management Inc. now owns 430 shares of the ride-sharing company's stock worth $31,000 after purchasing an additional 125 shares in the last quarter. Navalign LLC lifted its position in shares of Uber Technologies by 0.5% in the fourth quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company's stock worth $1,536,000 after purchasing an additional 126 shares in the last quarter. Atticus Wealth Management LLC lifted its position in shares of Uber Technologies by 39.8% in the second quarter. Atticus Wealth Management LLC now owns 446 shares of the ride-sharing company's stock worth $42,000 after purchasing an additional 127 shares in the last quarter. Sound View Wealth Advisors Group LLC lifted its position in shares of Uber Technologies by 4.4% in the second quarter. Sound View Wealth Advisors Group LLC now owns 3,051 shares of the ride-sharing company's stock worth $285,000 after purchasing an additional 129 shares in the last quarter. Finally, Clearstead Trust LLC lifted its position in shares of Uber Technologies by 0.5% in the second quarter. Clearstead Trust LLC now owns 25,981 shares of the ride-sharing company's stock worth $2,424,000 after purchasing an additional 130 shares in the last quarter. 80.24% of the stock is owned by hedge funds and other 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.

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.