Uber Technologies (NYSE:UBER) Trading Up 3.5% Following Analyst Upgrade

Shares of Uber Technologies, Inc. (NYSE:UBER - Get Free Report) were up 3.5% during trading on Thursday after Piper Sandler raised their price target on the stock from $95.00 to $103.00. Piper Sandler currently has an overweight rating on the stock. Uber Technologies traded as high as $93.61 and last traded at $93.08. Approximately 7,416,005 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 22,355,436 shares. The stock had previously closed at $89.94.

UBER has been the subject of a number of other research reports. Morgan Stanley restated an "overweight" rating and set a $115.00 target price (up previously from $95.00) on shares of Uber Technologies in a research report on Monday. TD Cowen cut their target price on shares of Uber Technologies from $90.00 to $88.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. UBS Group lifted their target price on shares of Uber Technologies from $103.00 to $107.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Raymond James Financial cut shares of Uber Technologies from a "strong-buy" rating to a "moderate buy" rating in a research report on Wednesday, June 18th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $106.00 target price (up previously from $96.00) on shares of Uber Technologies in a research report on Wednesday, June 25th. Ten equities research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.26.

Insider Buying and Selling

In related news, insider Jill Hazelbaker sold 34,884 shares of the business'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 transaction of $3,001,070.52. Following the transaction, the insider directly owned 102,135 shares of the company's stock, valued at approximately $8,786,674.05. The trade was a 25.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's 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 transaction, the chief financial officer directly owned 21,975 shares in the company, valued at $2,087,625. The trade was a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,384 shares of company stock worth $3,496,071. Company insiders own 3.84% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC increased its position in Uber Technologies by 26.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 243,922 shares of the ride-sharing company's stock worth $22,760,000 after buying an additional 50,324 shares during the period. Summa Corp. increased its position in Uber Technologies by 0.8% during the 2nd quarter. Summa Corp. now owns 25,307 shares of the ride-sharing company's stock worth $2,361,000 after buying an additional 200 shares during the period. Apollon Wealth Management LLC increased its position in Uber Technologies by 23.0% during the 2nd quarter. Apollon Wealth Management LLC now owns 24,783 shares of the ride-sharing company's stock worth $2,312,000 after buying an additional 4,641 shares during the period. Hemington Wealth Management increased its position in Uber Technologies by 18.0% during the 2nd quarter. Hemington Wealth Management now owns 2,293 shares of the ride-sharing company's stock worth $213,000 after buying an additional 349 shares during the period. Finally, Fifth Third Wealth Advisors LLC increased its position in shares of Uber Technologies by 8.3% in the second quarter. Fifth Third Wealth Advisors LLC now owns 55,007 shares of the ride-sharing company's stock worth $5,132,000 after purchasing an additional 4,237 shares during the period. Institutional investors own 80.24% of the company's stock.

Uber Technologies Stock Down 0.2%

The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $189.64 billion, a P/E ratio of 15.88, a PEG ratio of 1.04 and a beta of 1.40. The stock has a 50-day moving average of $89.30 and a 200 day moving average of $79.34.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.33. The company had revenue of $11.53 billion for the quarter, compared to analysts' expectations of $11.61 billion. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. Uber Technologies's revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.32) earnings per share. Research 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.