Uber Technologies (NYSE:UBER) Trading Up 1.3% - Should You Buy?

Key Points

• Uber Technologies shares rose 1.3% to close at $91.72, with a notable decrease in trading volume, down 87% from the average.
• Several analysts have increased their price targets for Uber, with the average target now at $102.82, indicating strong confidence in the company.
• Uber reported quarterly earnings of $0.63 EPS, exceeding expectations and showing an 18.2% revenue increase year-over-year.

Uber Technologies, Inc. (NYSE:UBER - Get Free Report) shares rose 1.3% on Tuesday . The stock traded as high as $92.55 and last traded at $91.72. Approximately 2,821,679 shares were traded during trading, a decline of 87% from the average daily volume of 22,237,475 shares. The stock had previously closed at $90.58.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on UBER shares. BMO Capital Markets raised their target price on shares of Uber Technologies from $101.00 to $113.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Royal Bank Of Canada increased their target price on Uber Technologies from $94.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Tigress Financial set a $110.00 price objective on shares of Uber Technologies and gave the stock a "buy" rating in a research note on Friday, May 23rd. Barclays reaffirmed an "overweight" rating and set a $110.00 target price (up from $97.00) on shares of Uber Technologies in a report on Thursday, August 7th. Finally, Roth Capital upped their price objective on Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Eleven investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Uber Technologies has an average rating of "Moderate Buy" and an average price target of $102.82.

Uber Technologies Stock Up 1.5%

The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. The business has a 50 day simple moving average of $89.58 and a 200-day simple moving average of $81.40. The firm has a market capitalization of $191.67 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 1.03 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. 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 26.68% and a return on equity of 59.96%. The company had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $12.45 billion. During the same quarter last year, the company posted $0.47 EPS. The firm's revenue was up 18.2% compared to the same quarter last year. On average, equities analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Activity

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $95.00, for a total value of $261,250.00. Following the completion of the transaction, the chief financial officer directly owned 21,975 shares in the company, valued at approximately $2,087,625. This represents a 11.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.70% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. AGP Franklin LLC bought a new stake in Uber Technologies in the second quarter valued at about $247,000. Meridian Wealth Advisors LLC bought a new position in Uber Technologies in the second quarter worth about $206,000. Cozad Asset Management Inc. bought a new position in Uber Technologies during the 2nd quarter worth $222,000. Guerra Pan Advisors LLC acquired a new position in shares of Uber Technologies during the second quarter valued at $1,833,000. Finally, Stevens Capital Management LP acquired a new stake in shares of Uber Technologies in the 2nd quarter worth about $955,000. Institutional investors and hedge funds own 80.24% of the company's stock.

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.

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