Uber Technologies (NYSE:UBER) Stock Price Up 1.1% - Should You Buy?

Key Points

• Uber Technologies' stock price increased by 1.1%, trading at $99.52 after reaching a high of $100.26 during the day, with a trading volume of approximately 16 million shares.
• Analysts have raised their price targets for Uber, with estimates ranging from $84.00 to $113.00, and a consensus average price target of $103.30, reflecting a general positive outlook on the stock.
• The company reported a quarterly earnings per share of $0.63, exceeding analyst expectations and achieving year-over-year revenue growth of 18.2%, with total revenue of $12.65 billion for the quarter.

Uber Technologies, Inc. (NYSE:UBER - Get Free Report) shares rose 1.1% during mid-day trading on Monday . The stock traded as high as $100.26 and last traded at $99.52. Approximately 16,245,389 shares traded hands during trading, a decline of 24% from the average daily volume of 21,427,301 shares. The stock had previously closed at $98.45.

Wall Street Analyst Weigh In

UBER has been the topic of several recent research reports. Susquehanna increased their price target on Uber Technologies from $100.00 to $105.00 and gave the company a "positive" rating in a report on Thursday, August 7th. Sanford C. Bernstein increased their price target on Uber Technologies from $95.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, July 21st. BMO Capital Markets increased their price target on Uber Technologies from $101.00 to $113.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Wedbush decreased their price target on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Finally, Needham & Company LLC increased their price target on Uber Technologies from $100.00 to $109.00 and gave the company a "buy" rating in a report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $103.30.

Uber Technologies Stock Performance

The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. The business has a 50 day simple moving average of $93.46 and a two-hundred day simple moving average of $86.56. The firm has a market cap of $207.53 billion, a PE ratio of 16.95 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The business had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $12.45 billion. During the same quarter in the prior year, the company earned $0.47 EPS. The business's revenue was up 18.2% compared to the same quarter last year. As a group, equities research analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total transaction of $273,405.00. Following the transaction, the chief financial officer owned 22,528 shares of the company's stock, valued at approximately $2,239,733.76. This represents a 10.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dara Khosrowshahi sold 300,000 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $95.37, for a total value of $28,611,000.00. Following the transaction, the chief executive officer directly owned 1,132,544 shares in the company, valued at $108,010,721.28. The trade was a 20.94% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 604,571 shares of company stock worth $58,920,741. Insiders own 3.70% of the company's stock.

Hedge Funds Weigh In On Uber Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kilter Group LLC purchased a new stake in shares of Uber Technologies during the second quarter worth about $26,000. Kozak & Associates Inc. grew its stake in shares of Uber Technologies by 155.9% during the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after acquiring an additional 223 shares during the last quarter. Noble Wealth Management PBC acquired a new stake in shares of Uber Technologies during the first quarter worth about $27,000. Vision Financial Markets LLC acquired a new stake in shares of Uber Technologies during the first quarter worth about $27,000. Finally, West Oak Capital LLC acquired a new stake in shares of Uber Technologies during the second quarter worth about $28,000. Hedge funds and other 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.

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