Uber Technologies (NYSE:UBER) Stock Price Up 1.7% - Time to Buy?

Key Points

• Uber Technologies' stock price increased by 1.7%, trading at $89.94 after hitting a high of $90.92 during the session.
• Analysts are optimistic about Uber, with Bank of America raising their price target from $97.00 to $115.00, and overall ratings indicating a "Moderate Buy" with a consensus price target of $100.71.
• Insider activity has been noted, with CFO Prashanth Mahendra-Rajah selling 2,750 shares and a significant 3.70% of Uber's stock currently owned by insiders.

Uber Technologies, Inc. (NYSE:UBER - Get Free Report) shot up 1.7% during mid-day trading on Tuesday . The stock traded as high as $90.92 and last traded at $89.94. 7,683,287 shares changed hands during trading, a decline of 65% from the average session volume of 22,081,516 shares. The stock had previously closed at $88.43.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Bank of America raised their price objective on shares of Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. KeyCorp upped their price target on shares of Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Roth Capital increased their target price on shares of Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Barclays increased their target price on Uber Technologies from $86.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Finally, Wall Street Zen upgraded Uber Technologies from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Ten analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. Based on data from MarketBeat.com, Uber Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $100.71.

Uber Technologies Price Performance

The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average price of $89.12 and a two-hundred day moving average price of $80.47. The firm has a market capitalization of $189.32 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 1.00 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.33. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. The company had revenue of $11.53 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the previous year, the firm posted ($0.32) EPS. The firm's quarterly revenue was up 13.8% on a year-over-year basis. As a group, research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Buying and Selling at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $95.00, for a total transaction 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 $2,087,625. This trade represents a 11.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jill Hazelbaker sold 34,884 shares of the firm's stock in a transaction 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 sale, the insider directly owned 102,135 shares of the company's stock, valued at approximately $8,786,674.05. This represents a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by company insiders.

Institutional Trading of Uber Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Nova Wealth Management Inc. raised its holdings in shares of Uber Technologies by 41.0% during the first quarter. Nova Wealth Management Inc. now owns 430 shares of the ride-sharing company's stock worth $31,000 after acquiring an additional 125 shares in the last quarter. Navalign LLC raised its holdings in shares of Uber Technologies by 0.5% during the fourth quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company's stock worth $1,536,000 after acquiring an additional 126 shares in the last quarter. Atticus Wealth Management LLC raised its holdings in shares of Uber Technologies by 39.8% during the second quarter. Atticus Wealth Management LLC now owns 446 shares of the ride-sharing company's stock worth $42,000 after acquiring an additional 127 shares in the last quarter. Grove Bank & Trust raised its holdings in shares of Uber Technologies by 0.9% during the first quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company's stock worth $1,030,000 after acquiring an additional 133 shares in the last quarter. Finally, Forum Financial Management LP raised its holdings in shares of Uber Technologies by 1.3% during the first quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company's stock worth $798,000 after acquiring an additional 136 shares in the last quarter. Institutional investors and hedge funds 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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