Uber Technologies (NYSE:UBER) Trading 1.4% Higher Following Earnings Beat

Key Points

• Uber Technologies' stock rose 1.4% following an earnings report that beat expectations, with $0.63 EPS exceeding the consensus estimate of $0.61.
• The company reported revenue of $12.65 billion for the quarter, surpassing analyst estimates and showing an 18.2% year-over-year increase.
• Multiple analysts have raised their price targets for Uber, with firms like Raymond James and Sanford C. Bernstein setting targets at $105.00 and $110.00, respectively.

Uber Technologies, Inc. (NYSE:UBER - Get Free Report) was up 1.4% during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $91.40 and last traded at $90.51. Approximately 8,657,237 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 22,236,383 shares. The stock had previously closed at $89.22.

The ride-sharing company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The company had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. During the same quarter last year, the business earned $0.47 earnings per share. The firm's revenue was up 18.2% on a year-over-year basis.

Wall Street Analyst Weigh In

Several brokerages recently commented on UBER. Raymond James Financial raised their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the company a "strong-buy" rating in a research note on Thursday. Sanford C. Bernstein upped their price target on shares of Uber Technologies from $95.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Barclays restated an "overweight" rating and issued a $110.00 price objective (up previously from $97.00) on shares of Uber Technologies in a report on Thursday. JPMorgan Chase & Co. lifted their price objective on Uber Technologies from $105.00 to $110.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Finally, Canaccord Genuity Group reiterated a "hold" rating and issued a $84.00 price objective (down from $90.00) on shares of Uber Technologies in a research report on Friday, June 27th. Ten analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $101.91.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 34,884 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $86.03, for a total value of $3,001,070.52. Following the transaction, the insider owned 102,135 shares of the company's stock, valued at $8,786,674.05. This trade represents a 25.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $261,250.00. Following the completion of the sale, the chief financial officer owned 21,975 shares of the company's stock, valued at $2,087,625. This trade represents a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.84% of the company's stock.

Institutional Trading of Uber Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UBER. Vanguard Group Inc. grew its stake in Uber Technologies by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock worth $13,590,287,000 after buying an additional 5,759,353 shares during the last quarter. Capital Research Global Investors increased its position in Uber Technologies by 79.0% in the 4th quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company's stock worth $7,125,728,000 after purchasing an additional 52,125,476 shares during the last quarter. Capital World Investors grew its holdings in Uber Technologies by 10.1% in the 4th quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company's stock valued at $1,831,021,000 after buying an additional 2,792,039 shares during the last quarter. Pershing Square Capital Management L.P. bought a new stake in shares of Uber Technologies in the 1st quarter worth approximately $2,207,743,000. Finally, Kingstone Capital Partners Texas LLC increased its holdings in Uber Technologies by 334,075.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company's stock valued at $1,863,545,000 after purchasing an additional 19,967,705 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company's stock.

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 company has a 50 day moving average price of $89.17 and a 200 day moving average price of $80.74. The company has a market capitalization of $189.99 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 1.03 and a beta of 1.43.

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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