Uber Technologies (NYSE:UBER) Trading Up 0.7% After Analyst Upgrade

Shares of Uber Technologies, Inc. (NYSE:UBER - Get Free Report) shot up 0.7% on Tuesday after Tigress Financial raised their price target on the stock from $103.00 to $110.00. Tigress Financial currently has a buy rating on the stock. Uber Technologies traded as high as $93.60 and last traded at $93.06. 4,429,626 shares were traded during mid-day trading, a decline of 78% from the average session volume of 20,317,675 shares. The stock had previously closed at $92.46.

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $82.00 target price on shares of Uber Technologies in a research note on Monday, May 5th. Piper Sandler reissued an "overweight" rating and issued a $87.00 target price (up previously from $80.00) on shares of Uber Technologies in a research note on Tuesday, February 18th. Evercore ISI dropped their price objective on shares of Uber Technologies from $120.00 to $115.00 and set an "outperform" rating for the company in a research note on Thursday, February 6th. Benchmark reaffirmed a "hold" rating on shares of Uber Technologies in a research note on Friday, January 31st. Finally, TD Cowen dropped their price objective on shares of Uber Technologies from $90.00 to $88.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $93.91.

Insiders Place Their Bets

In other Uber Technologies news, SVP Nikki Krishnamurthy sold 20,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $71.57, for a total value 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. This represents a 5.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jill Hazelbaker sold 34,884 shares of the company'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 transaction, the insider now owns 102,135 shares of the company's stock, valued at approximately $8,786,674.05. This represents a 25.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 83,788 shares of company stock worth $6,517,070 in the last 90 days. 3.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On Uber Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Noble Wealth Management PBC acquired a new position in shares of Uber Technologies in the 1st quarter valued at approximately $27,000. Kozak & Associates Inc. raised its position in shares of Uber Technologies by 155.9% in the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after purchasing an additional 223 shares in the last quarter. Vision Financial Markets LLC acquired a new position in shares of Uber Technologies in the 1st quarter valued at approximately $27,000. GPS Wealth Strategies Group LLC raised its position in shares of Uber Technologies by 305.1% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock valued at $29,000 after purchasing an additional 299 shares in the last quarter. Finally, Perkins Coie Trust Co raised its position in shares of Uber Technologies by 306.0% in the 1st quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company's stock valued at $30,000 after purchasing an additional 306 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company's stock.

Uber Technologies Stock Performance

The stock has a 50-day simple moving average of $78.17 and a 200-day simple moving average of $72.52. The company has a market capitalization of $183.64 billion, a price-to-earnings ratio of 19.26, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.33. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The company had revenue of $11.53 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same period in the prior year, the company posted ($0.32) EPS. Uber Technologies's quarterly revenue was up 13.8% on a year-over-year basis. On average, analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

About Uber Technologies

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.