Uber Technologies (NYSE:UBER) Shares Up 2.5% – Time to Buy?

Uber Technologies, Inc. (NYSE:UBER) shot up 2.5% during trading on Wednesday . The stock traded as high as $86.36 and last traded at $85.79. 20,425,640 shares changed hands during mid-day trading, a decline of 1% from the average session volume of 20,697,682 shares. The stock had previously closed at $83.69.

Wall Street Analyst Weigh In

UBER has been the subject of several research reports. TD Cowen increased their price objective on Uber Technologies from $108.00 to $114.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Barclays decreased their price target on shares of Uber Technologies from $110.00 to $107.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. BTIG Research reaffirmed a “buy” rating and set a $100.00 price objective on shares of Uber Technologies in a research report on Tuesday, November 4th. Piper Sandler set a $107.00 target price on shares of Uber Technologies in a research note on Wednesday, November 5th. Finally, Royal Bank Of Canada set a $110.00 price target on Uber Technologies in a research note on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.26.

Uber Technologies Trading Up 2.5%

The company has a debt-to-equity ratio of 0.37, a current ratio of 1.15 and a quick ratio of 1.15. The business’s 50 day simple moving average is $94.22 and its 200 day simple moving average is $91.97. The stock has a market cap of $178.26 billion, a P/E ratio of 11.03 and a beta of 1.46.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 EPS for the quarter, beating the consensus estimate of $0.67 by $2.44. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.The business had revenue of $13.47 billion for the quarter, compared to analyst estimates of $13.25 billion. During the same quarter in the previous year, the firm earned $1.20 EPS. Uber Technologies’s quarterly revenue was up 20.4% on a year-over-year basis. On average, analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Tony West sold 3,125 shares of the company’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $92.10, for a total value of $287,812.50. Following the sale, the insider owned 174,135 shares of the company’s stock, valued at approximately $16,037,833.50. This represents a 1.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of Uber Technologies stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $94.41, for a total transaction of $519,255.00. Following the transaction, the chief financial officer directly owned 20,330 shares of the company’s stock, valued at $1,919,355.30. This represents a 21.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 567,625 shares of company stock worth $55,385,660. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Uber Technologies by 0.7% during the third quarter. Vanguard Group Inc. now owns 190,828,841 shares of the ride-sharing company’s stock worth $18,695,502,000 after purchasing an additional 1,277,322 shares during the last quarter. Geode Capital Management LLC lifted its position in Uber Technologies by 2.6% during the 2nd quarter. Geode Capital Management LLC now owns 45,859,136 shares of the ride-sharing company’s stock worth $4,258,756,000 after buying an additional 1,168,288 shares in the last quarter. Pershing Square Capital Management L.P. bought a new stake in Uber Technologies during the 1st quarter worth about $2,207,743,000. Norges Bank acquired a new stake in Uber Technologies in the 2nd quarter valued at about $2,348,319,000. Finally, Kingstone Capital Partners Texas LLC raised its stake in shares of Uber Technologies by 334,075.7% in the second quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock worth $1,863,545,000 after acquiring an additional 19,967,705 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.