Uber Technologies (NYSE:UBER) Shares Down 1.6% – What’s Next?

Uber Technologies, Inc. (NYSE:UBER)’s share price fell 1.6% during mid-day trading on Friday . The company traded as low as $60.02 and last traded at $60.60. 3,973,309 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 19,188,752 shares. The stock had previously closed at $61.56.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Uber Technologies from $97.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Daiwa America cut Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. BMO Capital Markets restated an “outperform” rating and set a $92.00 target price on shares of Uber Technologies in a report on Friday, October 11th. UBS Group raised their price objective on shares of Uber Technologies from $102.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Evercore ISI boosted their price target on shares of Uber Technologies from $90.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Six analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $90.51.

Uber Technologies Price Performance

The company has a market cap of $127.96 billion, a price-to-earnings ratio of 30.23, a PEG ratio of 0.75 and a beta of 1.33. The company’s 50 day moving average price is $70.09 and its 200 day moving average price is $71.05. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70.

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

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the transaction, the insider now directly owns 107,289 shares in the company, valued at approximately $7,821,368.10. This represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Uber Technologies

Several institutional investors have recently modified their holdings of the company. GHP Investment Advisors Inc. boosted its position in Uber Technologies by 222.7% during the second quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock worth $26,000 after purchasing an additional 245 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. MCF Advisors LLC grew 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 acquiring an additional 405 shares during the last quarter. Fairfield Financial Advisors LTD purchased a new position in Uber Technologies during the 2nd quarter valued at about $36,000. Finally, Financial Management Professionals Inc. raised its position in Uber Technologies by 104.1% during the third quarter. Financial Management Professionals Inc. now owns 494 shares of the ride-sharing company’s stock worth $37,000 after acquiring an additional 252 shares during the last quarter. Hedge funds and other 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.