Uber Technologies (NYSE:UBER) Trading Up 8.7% – Still a Buy?

Shares of Uber Technologies, Inc. (NYSE:UBER) rose 8.7% during trading on Friday . The company traded as high as $84.84 and last traded at $84.73. Approximately 19,782,547 shares changed hands during trading, an increase of 11% from the average daily volume of 17,888,945 shares. The stock had previously closed at $77.92.

Analyst Upgrades and Downgrades

Several brokerages have commented on UBER. Wells Fargo & Company reiterated an “overweight” rating and issued a $97.00 target price on shares of Uber Technologies in a report on Friday, September 13th. Evercore ISI increased their target price on Uber Technologies from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Melius Research initiated coverage on Uber Technologies in a report on Monday, July 22nd. They set a “hold” rating and a $77.00 price target on the stock. DA Davidson upped their price target on Uber Technologies from $81.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $80.00 price target on shares of Uber Technologies in a report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $88.11.

Uber Technologies Stock Up 10.9 %

The firm has a 50-day moving average price of $72.10 and a two-hundred day moving average price of $70.51. The company has a market capitalization of $181.54 billion, a P/E ratio of 93.62, a PEG ratio of 1.35 and a beta of 1.33. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.72.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The firm had revenue of $10.70 billion during the quarter, compared to the consensus estimate of $10.57 billion. During the same period in the prior year, the firm earned $0.18 EPS. The business’s revenue was up 15.9% on a year-over-year basis. Equities research analysts anticipate that Uber Technologies, Inc. will post 1.08 EPS for the current fiscal year.

Insider Activity at Uber Technologies

In other news, CEO Dara Khosrowshahi sold 500,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $71.91, for a total transaction of $35,955,000.00. Following the sale, the chief executive officer now directly owns 1,266,114 shares in the company, valued at approximately $91,046,257.74. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Jill Hazelbaker sold 40,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $72.00, for a total value of $2,880,000.00. Following the completion of the transaction, the insider now owns 127,352 shares of the company’s stock, valued at $9,169,344. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Dara Khosrowshahi sold 500,000 shares of Uber Technologies stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $71.91, for a total value of $35,955,000.00. Following the sale, the chief executive officer now directly owns 1,266,114 shares in the company, valued at $91,046,257.74. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Brevan Howard Capital Management LP lifted its holdings in shares of Uber Technologies by 260.0% during the fourth quarter. Brevan Howard Capital Management LP now owns 26,152 shares of the ride-sharing company’s stock valued at $1,610,000 after acquiring an additional 18,887 shares during the period. Brandywine Managers LLC lifted its holdings in Uber Technologies by 7.8% during the 4th quarter. Brandywine Managers LLC now owns 28,832 shares of the ride-sharing company’s stock valued at $1,775,000 after purchasing an additional 2,092 shares during the last quarter. Garden State Investment Advisory Services LLC grew its stake in Uber Technologies by 8.4% during the fourth quarter. Garden State Investment Advisory Services LLC now owns 10,091 shares of the ride-sharing company’s stock worth $621,000 after buying an additional 780 shares during the last quarter. Grayhawk Investment Strategies Inc. acquired a new stake in shares of Uber Technologies during the fourth quarter worth approximately $1,004,000. Finally, Fullerton Fund Management Co Ltd. acquired a new stake in shares of Uber Technologies during the fourth quarter worth approximately $7,028,000. 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.