Uber Technologies (NYSE:UBER) Stock Jumps 1% – Should You Buy?

Uber Technologies, Inc. (NYSE:UBER) shot up 1% during mid-day trading on Wednesday. The stock traded as high as $71.09 and last traded at $70.7750. 15,513,228 shares were traded during trading, a decline of 18% from the average session volume of 19,002,914 shares. The stock had previously closed at $70.05.

Latest Uber Technologies News

Here’s some of the latest news about UBER:

• Positive Sentiment: Uber and McDonald’s expanded their multiyear delivery and loyalty partnership across 14 markets. Uber will be a preferred integrated delivery provider for McDonald’s app orders in key markets, with linked rewards programs that could increase orders and customer retention. Article: Is Uber’s Expansion of Delivery Tie-Up With MCD a Growth Catalyst?
• Positive Sentiment: Amazon is partnering with Uber to offer Prime members free delivery on eligible restaurant orders. The arrangement could expose Uber Eats to more customers and drive incremental order volume. Article: Uber Joins with Amazon on Food Delivery
• Negative Sentiment: A Seeking Alpha article downgraded Uber, framing autonomous vehicles as a major disruption risk. Coverage also points to concerns about Uber’s fourth-quarter outlook; pressure on growth expectations or confidence in its ability to compete could weigh on the shares. Article: Uber: Facing The Ultimate Disruption Test

Wall Street Analysts Forecast Growth

UBER has been the topic of several recent analyst reports. Evercore restated an “outperform” rating and set a $150.00 price objective on shares of Uber Technologies in a research note on Wednesday, August 5th. Piper Sandler reissued an “overweight” rating and set a $100.00 target price (down from $110.00) on shares of Uber Technologies in a report on Thursday, August 13th. The Goldman Sachs Group restated a “buy” rating and issued a $110.00 price target (down from $115.00) on shares of Uber Technologies in a research note on Thursday, November 5th. BNP Paribas Exane cut their price target on Uber Technologies from $108.00 to $106.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Finally, Arete Research cut shares of Uber Technologies from a “buy” rating to a “neutral” rating and set a $74.00 price objective for the company. in a research report on Thursday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, forty-four have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $102.08.

Uber Technologies Price Performance

The company’s fifty day moving average price is $69.87 and its 200 day moving average price is $72.90. The company has a market capitalization of $144.52 billion, a P/E ratio of 41.88, a PEG ratio of 2.78 and a beta of 1.33. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.55.

Uber Technologies (NYSE:UBER) last released its earnings results on Wednesday, November 4th. The ride-sharing company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.02. Uber Technologies had a return on equity of 21.37% and a net margin of 6.13%. The company had revenue of $14.77 billion for the quarter, compared to analyst estimates of $14.66 billion. During the same period in the prior year, the firm posted $3.11 EPS. Uber Technologies’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, sell-side analysts forecast that Uber Technologies, Inc. will post 3.11 EPS for the current year.

Insider Buying and Selling at Uber Technologies

In related news, insider Andrew Macdonald bought 70,000 shares of the company’s stock in a transaction dated Friday, September 4th. The stock was purchased at an average price of $75.83 per share, with a total value of $5,308,100.00. Following the completion of the acquisition, the insider owned 426,320 shares of the company’s stock, valued at $32,327,845.60. The trade was a 19.65% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jill Hazelbaker sold 28,170 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $71.31, for a total transaction of $2,008,802.70. Following the completion of the sale, the insider owned 149,525 shares in the company, valued at approximately $10,662,627.75. The trade was a 15.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.81% of the company’s stock.

Institutional Trading of Uber Technologies

A number of hedge funds have recently added to or reduced their stakes in UBER. Public Investment Fund bought a new position in shares of Uber Technologies in the 2nd quarter valued at $5,256,173,439. Legal & General Group Plc bought a new stake in Uber Technologies during the 2nd quarter worth $943,167,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Uber Technologies in the 2nd quarter worth about $752,151,000. Fundsmith LLP acquired a new position in Uber Technologies in the 2nd quarter worth about $645,338,000. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new position in Uber Technologies in the second quarter valued at about $426,727,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Company Profile

Uber Technologies, Inc. operates a technology platform that connects people seeking transportation and delivery services with drivers, couriers, merchants and other providers. Its offerings include rides through the Uber app and food and grocery delivery through Uber Eats. The company also provides logistics services through Uber Freight, which connects shippers with carriers and offers tools for managing freight transportation. Uber’s platform serves users and businesses across markets in North America, Latin America, Europe, the Middle East, Africa and Asia-Pacific.