Uber Technologies (NYSE:UBER) Trading 3.4% Higher After Analyst Upgrade

Uber Technologies, Inc. (NYSE:UBER - Get Free Report) shares rose 3.4% during mid-day trading on Monday after Wells Fargo & Company raised their price target on the stock from $100.00 to $120.00. Wells Fargo & Company currently has an overweight rating on the stock. Uber Technologies traded as high as $97.12 and last traded at $96.82. Approximately 10,158,900 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 21,109,896 shares. The stock had previously closed at $93.63.

A number of other equities analysts have also recently commented on UBER. Wall Street Zen cut Uber Technologies from a "buy" rating to a "hold" rating in a report on Saturday. KeyCorp lifted their price target on Uber Technologies from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. DA Davidson boosted their price objective on Uber Technologies from $80.00 to $98.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Citigroup boosted their price objective on Uber Technologies from $92.00 to $102.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $82.00 price target on shares of Uber Technologies in a research note on Monday, May 5th. Thirteen research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $95.44.

Insiders Place Their Bets

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $85.00, for a total transaction of $233,750.00. Following the completion of the sale, the chief financial officer directly owned 21,063 shares in the company, valued at approximately $1,790,355. This trade represents a 11.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jill Hazelbaker sold 34,884 shares of the stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.84% of the company's stock.

Hedge Funds Weigh In On Uber Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Transce3nd LLC bought a new position in shares of Uber Technologies during the 4th quarter worth about $27,000. Fourth Dimension Wealth LLC bought a new position in shares of Uber Technologies during the 4th quarter worth about $27,000. Kozak & Associates Inc. boosted its position in shares of Uber Technologies by 155.9% during the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after purchasing an additional 223 shares in the last quarter. Noble Wealth Management PBC bought a new position in shares of Uber Technologies during the 1st quarter worth about $27,000. Finally, Vision Financial Markets LLC bought a new position in Uber Technologies in the 1st quarter valued at about $27,000. Institutional investors own 80.24% of the company's stock.

Uber Technologies Stock Performance

The firm has a market cap of $200.83 billion, a P/E ratio of 16.82, a PEG ratio of 1.19 and a beta of 1.40. 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's 50-day moving average is $86.90 and its two-hundred day moving average is $76.53.

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

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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