Uber Technologies (NYSE:UBER) Sets New 12-Month Low – Here’s Why

Uber Technologies, Inc. (NYSE:UBER)’s share price hit a new 52-week low during trading on Wednesday. The stock traded as low as $65.36 and last traded at $65.2760, with a volume of 896,154 shares changing hands. The stock had previously closed at $65.78.

Uber Technologies News Roundup

Here are the key news stories impacting Uber Technologies this week:

• Positive Sentiment: Uber’s decision to walk away from a potential Instacart acquisition may protect capital and avoid taking on integration costs or an expensive valuation. Analysts argue the company can continue expanding grocery delivery organically through Uber Eats. Uber: Walking Away From Instacart Was The Right Call
• Positive Sentiment: Key Food Stores Co-Op is joining Uber Eats, expanding Uber’s local grocery-delivery network and potentially adding order volume, merchant relationships and convenience for customers. Key Food Stores Co-Op Joins Uber Eats
• Positive Sentiment: Wall Street coverage remains broadly favorable, with analysts characterized as viewing UBER as a buy. That support could help limit downside ahead of earnings, although it is not a new operating catalyst. Wall Street Analysts See Uber as a Buy

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on UBER. Wedbush reiterated an “outperform” rating and set a $91.00 target price on shares of Uber Technologies in a research report on Tuesday, September 8th. Needham & Company LLC reissued a “buy” rating and issued a $109.00 price objective on shares of Uber Technologies in a research report on Thursday, August 6th. Benchmark restated a “hold” rating on shares of Uber Technologies in a research note on Monday, July 20th. Bank of America reduced their target price on shares of Uber Technologies from $104.00 to $103.00 and set a “buy” rating on the stock in a research report on Tuesday, July 28th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price target on shares of Uber Technologies in a research note on Monday, October 12th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.11.

Uber Technologies Trading Down 1.5%

The business’s 50-day moving average price is $71.91 and its 200-day moving average price is $73.75. The stock has a market cap of $132.40 billion, a PE ratio of 14.22 and a beta of 1.27.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Wednesday, August 5th. The ride-sharing company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.01. The business had revenue of $14.19 billion during the quarter, compared to analyst estimates of $14.24 billion. During the same period in the prior year, the business posted $0.60 EPS. Uber Technologies’s revenue was up 12.2% compared to the same quarter last year. Uber Technologies has set its Q3 2026 guidance at 0.840-0.880 EPS. As a group, analysts predict that Uber Technologies, Inc. will post 3.20 earnings per share for the current year.

Insider Buying and Selling

In other Uber Technologies news, CEO Dara Khosrowshahi purchased 141,000 shares of Uber Technologies stock in a transaction on Thursday, September 10th. The stock was bought at an average cost of $70.96 per share, with a total value of $10,005,360.00. Following the transaction, the chief executive officer owned 1,367,100 shares of the company’s stock, valued at $97,009,416. This represents a 11.50% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jill Hazelbaker sold 28,170 shares of the stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $71.31, for a total value of $2,008,802.70. Following the sale, the insider directly owned 149,525 shares in the company, valued at $10,662,627.75. This represents a 15.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.81% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

A number of large investors have recently added to or reduced their stakes in the stock. BIP Wealth LLC acquired a new position in shares of Uber Technologies during the second quarter worth about $1,033,000. Pacer Advisors Inc. increased its stake in Uber Technologies by 23.7% during the first quarter. Pacer Advisors Inc. now owns 5,152,795 shares of the ride-sharing company’s stock valued at $370,641,000 after purchasing an additional 985,989 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Uber Technologies by 6.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 514,735 shares of the ride-sharing company’s stock worth $37,025,000 after buying an additional 29,587 shares during the last quarter. Weiss Asset Management LP increased its stake in shares of Uber Technologies by 465.5% in the first quarter. Weiss Asset Management LP now owns 62,520 shares of the ride-sharing company’s stock valued at $4,497,000 after purchasing an additional 51,465 shares during the period. Finally, Evercore Wealth Management LLC grew its position in Uber Technologies by 6.3% in the 1st quarter. Evercore Wealth Management LLC now owns 1,156,032 shares of the ride-sharing company’s stock valued at $83,153,000 after buying an additional 68,433 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

About Uber Technologies

Uber Technologies, Inc is a technology company that connects consumers with independent drivers, couriers, merchants and transportation providers through its digital platform. Its Mobility business offers ridesharing and other transportation services, including taxi and vehicle-hire options in select markets. The company also provides business travel and transportation management tools for organizations.

Uber’s Delivery segment operates Uber Eats, which enables customers to order meals, groceries and other goods from participating restaurants, retailers and merchants.