Uber Technologies (NYSE:UBER) Trading Up 2.7% - Should You Buy?

Key Points

• Uber Technologies' stock rose by 2.7% recently, trading at approximately $96.76, with a significant decrease in trading volume compared to its average.
• Analysts have varying ratings for Uber, with most recommending a Buy and a target price averaging $102.82, while Wells Fargo adjusted its target down to $119.00.
• The company reported an earnings per share of $0.63 for the last quarter, surpassing estimates and showcasing an 18.2% growth in revenue year-over-year.

Uber Technologies, Inc. (NYSE:UBER - Get Free Report) rose 2.7% on Friday . The company traded as high as $97.07 and last traded at $96.76. Approximately 4,634,367 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 21,917,646 shares. The stock had previously closed at $94.23.

Analyst Ratings Changes

UBER has been the topic of a number of analyst reports. Wells Fargo & Company lowered their target price on shares of Uber Technologies from $120.00 to $119.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Loop Capital reiterated a "buy" rating and set a $105.00 target price (up from $89.00) on shares of Uber Technologies in a research report on Wednesday, May 21st. Bank of America increased their price objective on shares of Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Susquehanna increased their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the company a "positive" rating in a report on Thursday, August 7th. Finally, KeyCorp lifted their price target on shares of Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $102.82.

Uber Technologies Trading Up 2.6%

The business's 50 day moving average price is $90.82 and its 200-day moving average price is $82.62. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. The company has a market cap of $201.66 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 1.08 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its 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. The company had revenue of $12.65 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 EPS. On average, equities analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $95.00, for a total transaction of $261,250.00. Following the transaction, the chief financial officer directly owned 21,975 shares of the company's stock, valued at $2,087,625. This represents a 11.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the sale, the senior vice president owned 416,222 shares of the company's stock, valued at $38,184,206.28. This trade represents a 2.70% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.84% of the company's stock.

Institutional Trading of Uber Technologies

Hedge funds have recently modified their holdings of the business. Kilter Group LLC purchased a new position in Uber Technologies in the 2nd quarter worth about $26,000. Transce3nd LLC bought a new position in Uber Technologies in the 4th quarter worth approximately $27,000. Fourth Dimension Wealth LLC bought a new position in shares of Uber Technologies during the 4th quarter valued at approximately $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 valued at $27,000 after acquiring an additional 223 shares during the last quarter. Finally, Noble Wealth Management PBC bought a new stake in Uber Technologies in the first quarter worth $27,000. Institutional investors 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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