Uber Technologies (NYSE:UBER) Stock Price Down 2.3% - Should You Sell?

Key Points

• Uber Technologies' stock price fell by 2.3% to $87.36, with trading volume down approximately 11% from the average.
• Several analysts upgraded their price objectives for Uber, with targets ranging from $102.00 to $117.00, indicating strong overall confidence in the stock.
• Uber reported a year-over-year revenue increase of 18.2%, with earnings per share exceeding expectations at $0.63.

Uber Technologies, Inc. (NYSE:UBER - Get Free Report)'s stock price dropped 2.3% on Wednesday . The stock traded as low as $86.30 and last traded at $87.36. Approximately 19,757,581 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 22,186,654 shares. The stock had previously closed at $89.39.

Analyst Upgrades and Downgrades

Several research firms have commented on UBER. Roth Capital upped their price objective on Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Citigroup raised their price objective on Uber Technologies from $92.00 to $102.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Morgan Stanley restated an "overweight" rating and issued a $115.00 price objective (up previously from $95.00) on shares of Uber Technologies in a report on Monday, July 21st. Stifel Nicolaus raised their price objective on Uber Technologies from $110.00 to $117.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Finally, TD Cowen reduced their price target on Uber Technologies from $90.00 to $88.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $100.71.

Uber Technologies Trading Down 0.5%

The business has a fifty day moving average price of $89.15 and a 200 day moving average price of $80.68. The company has a market capitalization of $186.03 billion, a PE ratio of 15.57, a P/E/G ratio of 1.02 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.02 and a current ratio of 1.02.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. The business had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $12.45 billion. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. The company's revenue was up 18.2% on a year-over-year basis. During the same period last year, the business posted $0.47 EPS. Analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction that occurred on Monday, July 7th. The stock was 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. This trade 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 the SEC website. Also, insider Jill Hazelbaker sold 34,884 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $86.03, for a total value of $3,001,070.52. Following the completion of the sale, the insider directly owned 102,135 shares in the company, valued at approximately $8,786,674.05. This trade represents a 25.46% decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Uber Technologies

A number of hedge funds have recently modified their holdings of the stock. Transce3nd LLC acquired a new stake in shares of Uber Technologies in the fourth quarter worth about $27,000. Fourth Dimension Wealth LLC bought a new position in Uber Technologies during the fourth quarter valued at about $27,000. Kozak & Associates Inc. increased its stake in Uber Technologies by 155.9% during the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after acquiring an additional 223 shares during the period. Noble Wealth Management PBC bought a new position in Uber Technologies during the first quarter valued at about $27,000. Finally, Vision Financial Markets LLC bought a new position in Uber Technologies during the first quarter valued at about $27,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

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.