Uber Technologies (NYSE:UBER) Trading Up 2.6% - Here's Why

Key Points

• Uber Technologies' stock price increased by 2.6%, reaching a high of $95.70 during trading, despite an 18% decline in trading volume compared to its average session.
• Analysts maintain a consensus rating of "Moderate Buy" for Uber, with target prices ranging from $103.00 to $110.00 from various investment firms.
• In its latest quarter, Uber reported an EPS of $0.63, exceeding expectations, alongside revenues of $12.65 billion, marking an 18.2% year-over-year growth.

Uber Technologies, Inc. (NYSE:UBER - Get Free Report)'s stock price shot up 2.6% on Thursday . The stock traded as high as $95.70 and last traded at $94.57. 17,043,921 shares were traded during trading, a decline of 18% from the average session volume of 20,768,953 shares. The stock had previously closed at $92.21.

Wall Street Analyst Weigh In

Several research firms have weighed in on UBER. Sanford C. Bernstein reissued an "outperform" rating and set a $110.00 target price on shares of Uber Technologies in a research report on Tuesday. Needham & Company LLC boosted their target price on shares of Uber Technologies from $100.00 to $109.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Cantor Fitzgerald reissued 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. Barclays reissued an "overweight" rating and set a $110.00 target price (up previously from $97.00) on shares of Uber Technologies in a research report on Thursday, August 7th. Finally, Piper Sandler boosted their target price on shares of Uber Technologies from $95.00 to $103.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $105.70.

Uber Technologies Price Performance

The firm's fifty day moving average price is $95.33 and its 200 day moving average price is $88.98. The firm has a market capitalization of $197.21 billion, a PE ratio of 16.11 and a beta of 1.48. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The business's revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 EPS. As a group, equities analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Transactions at Uber Technologies

In related news, insider Tony West sold 100,000 shares of the business's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $100.38, for a total value of $10,038,000.00. Following the completion of the transaction, the insider directly owned 171,558 shares in the company, valued at $17,220,992.04. The trade was a 36.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the completion of the transaction, the senior vice president owned 416,222 shares of the company's stock, valued at approximately $38,184,206.28. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 604,946 shares of company stock worth $58,950,116. Insiders own 3.84% of the company's stock.

Hedge Funds Weigh In On Uber Technologies

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Uber Technologies by 1.6% during the second quarter. Vanguard Group Inc. now owns 189,551,519 shares of the ride-sharing company's stock valued at $17,685,157,000 after purchasing an additional 3,025,483 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Uber Technologies by 2.6% during the second quarter. Geode Capital Management LLC now owns 45,859,136 shares of the ride-sharing company's stock valued at $4,258,756,000 after purchasing an additional 1,168,288 shares in the last quarter. Pershing Square Capital Management L.P. purchased a new position in Uber Technologies during the first quarter valued at $2,207,743,000. Norges Bank purchased a new position in Uber Technologies during the second quarter valued at $2,348,319,000. Finally, Kingstone Capital Partners Texas LLC lifted its holdings in Uber Technologies by 334,075.7% during the second 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. 80.24% of the stock is currently owned by institutional investors and hedge funds.

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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