Uber Technologies (NYSE:UBER) Stock Price Down 1.9% – What’s Next?

Shares of Uber Technologies, Inc. (NYSE:UBER) were down 1.9% during mid-day trading on Wednesday . The stock traded as low as $64.83 and last traded at $64.92. Approximately 9,553,491 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 26,200,803 shares. The stock had previously closed at $66.15.

Wall Street Analyst Weigh In

UBER has been the topic of a number of research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 target price on shares of Uber Technologies in a research report on Wednesday, December 18th. Wells Fargo & Company cut their price objective on shares of Uber Technologies from $97.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Citizens Jmp lowered Uber Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Gordon Haskett raised Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Thursday, October 31st. Finally, Royal Bank of Canada upped their target price on Uber Technologies from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Uber Technologies currently has an average rating of “Moderate Buy” and an average target price of $91.53.

Uber Technologies Stock Performance

The business’s 50-day moving average is $67.49 and its 200 day moving average is $70.63. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41. The company has a market cap of $136.68 billion, a PE ratio of 32.29, a PEG ratio of 0.75 and a beta of 1.36.

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

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $72.90, for a total value of $2,025,162.00. Following the completion of the transaction, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

A number of hedge funds have recently bought and sold shares of UBER. GHP Investment Advisors Inc. grew its stake in shares of Uber Technologies by 222.7% in the second quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock worth $26,000 after acquiring an additional 245 shares during the period. Fairfield Financial Advisors LTD purchased a new stake in Uber Technologies during the 2nd quarter valued at $36,000. Financial Management Professionals Inc. lifted its holdings in shares of Uber Technologies by 104.1% during the 3rd quarter. Financial Management Professionals Inc. now owns 494 shares of the ride-sharing company’s stock valued at $37,000 after buying an additional 252 shares during the period. Transcendent Capital Group LLC boosted its stake in shares of Uber Technologies by 3,928.6% in the 3rd quarter. Transcendent Capital Group LLC now owns 564 shares of the ride-sharing company’s stock worth $42,000 after buying an additional 550 shares during the last quarter. Finally, Fortitude Family Office LLC grew its holdings in shares of Uber Technologies by 84.7% in the third quarter. Fortitude Family Office LLC now owns 602 shares of the ride-sharing company’s stock worth $45,000 after acquiring an additional 276 shares during the period. Institutional investors own 80.24% of the company’s stock.

Uber Technologies Company Profile

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.