Uber Technologies (NYSE:UBER) Shares Gap Down on Disappointing Earnings

Uber Technologies, Inc. (NYSE:UBER)’s share price gapped down before the market opened on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $70.43, but opened at $64.50. Uber Technologies shares last traded at $65.48, with a volume of 27,482,467 shares traded.

The ride-sharing company reported ($0.32) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.53). The business had revenue of $10.13 billion during the quarter, compared to analyst estimates of $10.09 billion. Uber Technologies had a net margin of 5.06% and a return on equity of 18.95%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.08) earnings per share.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of Uber Technologies in a report on Wednesday. Wedbush reiterated an “outperform” rating and issued a $85.00 price objective on shares of Uber Technologies in a report on Wednesday. Jefferies Financial Group lowered their target price on Uber Technologies from $103.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday. JMP Securities reaffirmed a “market outperform” rating and issued a $85.00 price target on shares of Uber Technologies in a report on Thursday, March 28th. Finally, The Goldman Sachs Group upped their target price on Uber Technologies from $59.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Two research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.44.

Insider Activity

In other news, insider Tony West sold 18,750 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $70.08, for a total value of $1,314,000.00. Following the transaction, the insider now owns 185,566 shares of the company’s stock, valued at $13,004,465.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Tony West sold 18,750 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $70.08, for a total transaction of $1,314,000.00. Following the transaction, the insider now directly owns 185,566 shares in the company, valued at $13,004,465.28. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jill Hazelbaker sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $77.83, for a total transaction of $1,556,600.00. Following the completion of the sale, the insider now owns 107,290 shares of the company’s stock, valued at approximately $8,350,380.70. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of Uber Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. Hoey Investments Inc. boosted its position in Uber Technologies by 2.7% during the first quarter. Hoey Investments Inc. now owns 71,449 shares of the ride-sharing company’s stock worth $5,501,000 after purchasing an additional 1,887 shares in the last quarter. Pinnacle Wealth Planning Services Inc. raised its stake in shares of Uber Technologies by 45.4% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 13,308 shares of the ride-sharing company’s stock worth $1,025,000 after buying an additional 4,153 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Uber Technologies in the 1st quarter worth about $47,755,000. Pinkerton Retirement Specialists LLC purchased a new position in Uber Technologies during the 1st quarter valued at about $522,000. Finally, Banco Santander S.A. raised its position in Uber Technologies by 17.6% during the first quarter. Banco Santander S.A. now owns 54,801 shares of the ride-sharing company’s stock worth $4,219,000 after acquiring an additional 8,200 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Uber Technologies Stock Performance

The firm has a market capitalization of $141.39 billion, a PE ratio of 78.99, a PEG ratio of 1.09 and a beta of 1.39. The stock’s 50 day moving average price is $74.57 and its two-hundred day moving average price is $65.85. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.79.

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.