Uber Technologies (NYSE:UBER) Stock Price Up 4.7% After Better-Than-Expected Earnings

Uber Technologies, Inc. (NYSE:UBER)’s share price shot up 4.7% during trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $68.34 and last traded at $67.93. 10,146,079 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 19,162,129 shares. The stock had previously closed at $64.87.

The ride-sharing company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. Uber Technologies had a net margin of 3.60% and a return on equity of 12.81%. The company had revenue of $10.70 billion during the quarter, compared to the consensus estimate of $10.57 billion. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The firm’s quarterly revenue was up 15.9% on a year-over-year basis.

Analyst Upgrades and Downgrades

UBER has been the topic of a number of research analyst reports. Jefferies Financial Group cut their price objective on shares of Uber Technologies from $103.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Truist Financial raised their price objective on shares of Uber Technologies from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday. Evercore ISI raised their price objective on shares of Uber Technologies from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday. Melius Research initiated coverage on shares of Uber Technologies in a report on Monday, July 22nd. They set a “hold” rating and a $77.00 price objective on the stock. Finally, Bank of America cut their price objective on shares of Uber Technologies from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Four investment analysts have rated the stock with a hold rating and thirty have given a buy rating to the stock. According to MarketBeat.com, Uber Technologies presently has an average rating of “Moderate Buy” and an average target price of $86.88.

Insiders Place Their Bets

In other Uber Technologies news, insider Tony West sold 18,750 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $65.63, for a total transaction of $1,230,562.50. Following the sale, the insider now directly owns 206,338 shares in the company, valued at approximately $13,541,962.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Dara Khosrowshahi sold 500,000 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $65.93, for a total value of $32,965,000.00. Following the sale, the chief executive officer now directly owns 1,656,996 shares in the company, valued at approximately $109,245,746.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Tony West sold 18,750 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $65.63, for a total transaction of $1,230,562.50. Following the completion of the sale, the insider now owns 206,338 shares in the company, valued at $13,541,962.94. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,135,984 shares of company stock worth $78,213,297. Corporate insiders own 3.84% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Financial Management Professionals Inc. boosted its position in shares of Uber Technologies by 111.6% in the 1st quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock worth $29,000 after buying an additional 202 shares in the last quarter. WR Wealth Planners LLC boosted its position in shares of Uber Technologies by 563.9% in the 2nd quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock worth $29,000 after buying an additional 344 shares in the last quarter. J.Safra Asset Management Corp acquired a new position in Uber Technologies in the 1st quarter valued at about $32,000. MCF Advisors LLC raised its stake in Uber Technologies by 1,038.5% in the 2nd quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock valued at $32,000 after purchasing an additional 405 shares during the last quarter. Finally, Founders Capital Management acquired a new position in Uber Technologies in the 2nd quarter valued at about $33,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Uber Technologies Stock Up 4.7 %

The firm’s 50 day moving average is $68.28 and its two-hundred day moving average is $70.98. The stock has a market cap of $141.86 billion, a price-to-earnings ratio of 109.56, a P/E/G ratio of 1.32 and a beta of 1.36. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.80.

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.