Uber Technologies (NYSE:UBER) Trading Up 1.1% – What’s Next?

Uber Technologies, Inc. (NYSE:UBER)’s share price was up 1.1% during trading on Wednesday . The company traded as high as $72.70 and last traded at $72.36. Approximately 3,064,344 shares changed hands during trading, a decline of 83% from the average daily volume of 18,235,188 shares. The stock had previously closed at $71.56.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on UBER. Jefferies Financial Group lifted their price target on Uber Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. BMO Capital Markets reiterated an “outperform” rating and issued a $92.00 price target on shares of Uber Technologies in a research note on Friday, October 11th. Daiwa Capital Markets lowered Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 price target on the stock. in a research note on Thursday, October 17th. Bank of America lifted their price target on Uber Technologies from $88.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, DA Davidson lifted their price target on Uber Technologies from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Six equities research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $90.51.

Uber Technologies Price Performance

The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a market capitalization of $150.81 billion, a price-to-earnings ratio of 35.63, a PEG ratio of 0.89 and a beta of 1.34. The business’s fifty day moving average price is $75.38 and its 200-day moving average price is $71.20.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The business had revenue of $11.19 billion during the quarter, compared to the consensus estimate of $10.99 billion. During the same quarter in the previous year, the business earned $0.10 EPS. The company’s quarterly revenue was up 20.4% on a year-over-year basis. On average, research analysts forecast that Uber Technologies, Inc. will post 1.89 EPS for the current year.

Insider Buying and Selling

In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the sale, the insider now owns 127,352 shares in the company, valued at $9,169,344. This represents a 23.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.84% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Tri Ri Asset Management Corp purchased a new position in Uber Technologies during the third quarter worth about $8,243,000. Peapack Gladstone Financial Corp grew its holdings in shares of Uber Technologies by 30.9% during the third quarter. Peapack Gladstone Financial Corp now owns 6,562 shares of the ride-sharing company’s stock worth $494,000 after purchasing an additional 1,550 shares in the last quarter. Synovus Financial Corp increased its position in shares of Uber Technologies by 26.1% in the third quarter. Synovus Financial Corp now owns 17,499 shares of the ride-sharing company’s stock worth $1,315,000 after purchasing an additional 3,622 shares during the last quarter. Tidal Investments LLC lifted its position in Uber Technologies by 64.6% during the third quarter. Tidal Investments LLC now owns 328,110 shares of the ride-sharing company’s stock valued at $24,661,000 after purchasing an additional 128,739 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Uber Technologies during the third quarter valued at approximately $5,920,000. 80.24% of the stock is owned by institutional investors.

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.