Uber Technologies (NYSE:UBER) Announces Quarterly Earnings Results

Uber Technologies (NYSE:UBER) announced its quarterly earnings results on Tuesday. The ride-sharing company reported $3.11 EPS for the quarter, beating the consensus estimate of $0.67 by $2.44, Zacks reports. The business had revenue of $13.47 billion during the quarter, compared to analysts’ expectations of $13.25 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.20 EPS.

Uber Technologies Price Performance

Shares of NYSE:UBER traded down $7.66 on Tuesday, hitting $92.06. The stock had a trading volume of 24,497,317 shares, compared to its average volume of 20,637,604. Uber Technologies has a twelve month low of $59.33 and a twelve month high of $101.99. The company has a market capitalization of $191.99 billion, a price-to-earnings ratio of 15.70 and a beta of 1.48. 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 firm’s 50 day moving average price is $95.66 and its 200-day moving average price is $90.79.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Piper Sandler boosted their price target on Uber Technologies from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. KeyCorp raised their target price on Uber Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. BMO Capital Markets raised their target price on Uber Technologies from $101.00 to $113.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $108.00 target price on shares of Uber Technologies in a research report on Wednesday, October 29th. Finally, Wall Street Zen cut Uber Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Uber Technologies currently has an average rating of “Moderate Buy” and an average target price of $106.82.

Insider Buying and Selling

In other news, SVP Nikki Krishnamurthy sold 11,571 shares of the firm’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $91.74, for a total value of $1,061,523.54. Following the completion of the sale, the senior vice president directly owned 416,222 shares in the company, valued at approximately $38,184,206.28. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Tony West sold 3,125 shares of the firm’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $93.00, for a total value of $290,625.00. Following the completion of the sale, the insider owned 172,846 shares of the company’s stock, valued at approximately $16,074,678. This trade represents a 1.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 604,946 shares of company stock valued at $58,950,116 in the last 90 days. 3.84% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UBER. Strategic Wealth Investment Group LLC lifted its position in shares of Uber Technologies by 1.7% during the 2nd quarter. Strategic Wealth Investment Group LLC now owns 16,638 shares of the ride-sharing company’s stock worth $1,552,000 after buying an additional 276 shares during the last quarter. Osterweis Capital Management Inc. raised its position in Uber Technologies by 66.2% in the second quarter. Osterweis Capital Management Inc. now owns 778 shares of the ride-sharing company’s stock valued at $73,000 after purchasing an additional 310 shares during the last quarter. Fairfield Bush & CO. raised its position in Uber Technologies by 3.6% in the second quarter. Fairfield Bush & CO. now owns 9,835 shares of the ride-sharing company’s stock valued at $918,000 after purchasing an additional 345 shares during the last quarter. Montag & Caldwell LLC raised its position in Uber Technologies by 0.3% in the second quarter. Montag & Caldwell LLC now owns 147,625 shares of the ride-sharing company’s stock valued at $13,773,000 after purchasing an additional 451 shares during the last quarter. Finally, Peapack Gladstone Financial Corp raised its position in shares of Uber Technologies by 6.4% during the second quarter. Peapack Gladstone Financial Corp now owns 7,885 shares of the ride-sharing company’s stock worth $736,000 after acquiring an additional 473 shares during the last quarter. 80.24% of the stock is 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.