Uber Technologies (NYSE:UBER) Shares Down 0.4% - What's Next?

Uber Technologies, Inc. (NYSE:UBER - Get Free Report)'s stock price fell 0.4% on Tuesday . The stock traded as low as $83.10 and last traded at $85.12. 7,345,491 shares changed hands during trading, a decline of 64% from the average session volume of 20,250,680 shares. The stock had previously closed at $85.43.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Citigroup dropped their price objective on shares of Uber Technologies from $98.00 to $92.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Truist Financial lifted their target price on Uber Technologies from $90.00 to $92.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Wells Fargo & Company upped their price target on Uber Technologies from $90.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday. Piper Sandler reissued an "overweight" rating and issued a $87.00 price objective (up previously from $80.00) on shares of Uber Technologies in a research report on Tuesday, February 18th. Finally, Benchmark reaffirmed a "hold" rating on shares of Uber Technologies in a research report on Friday, January 31st. Eleven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Uber Technologies has an average rating of "Moderate Buy" and an average target price of $91.16.

Uber Technologies Price Performance

The stock has a market capitalization of $174.61 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 0.89 and a beta of 1.43. The business's fifty day moving average price is $74.42 and its 200-day moving average price is $71.56. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41.

Uber Technologies (NYSE:UBER - Get Free Report) last released 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. The company had revenue of $11.53 billion for the quarter, compared to analyst estimates of $11.61 billion. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. The firm's revenue was up 13.8% on a year-over-year basis. During the same period last year, the firm earned ($0.32) earnings per share. On average, research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insiders Place Their Bets

In related news, insider Tony West sold 23,404 shares of Uber Technologies stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $70.27, for a total value of $1,644,599.08. Following the transaction, the insider now owns 114,241 shares in the company, valued at $8,027,715.07. This trade represents a 17.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Nikki Krishnamurthy sold 20,000 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $71.57, for a total transaction of $1,431,400.00. Following the completion of the transaction, the senior vice president now owns 361,908 shares in the company, valued at $25,901,755.56. The trade was a 5.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,904 shares of company stock worth $6,027,619 in the last quarter. 3.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On Uber Technologies

Several hedge funds have recently bought and sold shares of UBER. Capital Research Global Investors lifted its stake in Uber Technologies by 79.0% during the 4th quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company's stock valued at $7,125,728,000 after acquiring an additional 52,125,476 shares during the period. Norges Bank purchased a new stake in Uber Technologies during the fourth quarter valued at $1,467,754,000. Jennison Associates LLC lifted its holdings in shares of Uber Technologies by 36.9% in the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company's stock valued at $1,596,086,000 after acquiring an additional 7,137,512 shares during the last quarter. Boston Partners bought a new position in shares of Uber Technologies during the 4th quarter valued at approximately $381,057,000. Finally, Pacer Advisors Inc. lifted its holdings 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 worth $473,456,000 after acquiring an additional 6,254,898 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.