Uber Technologies (NYSE:UBER) Trading Down 2.1% – What’s Next?

by · The Cerbat Gem

Uber Technologies, Inc. (NYSE:UBER – Get Free Report) was down 2.1% during trading on Tuesday . The company traded as low as $82.65 and last traded at $83.15. Approximately 4,509,070 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 17,994,430 shares. The stock had previously closed at $84.94.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on UBER shares. Piper Sandler upped their price objective on Uber Technologies from $86.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, June 25th. JMP Securities raised their price target on Uber Technologies from $75.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 7th. Bank of America restated a “buy” rating and issued a $88.00 price target on shares of Uber Technologies in a research report on Friday. Citigroup raised their price target on Uber Technologies from $96.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Melius Research began coverage on Uber Technologies in a research report on Monday, July 22nd. They issued a “hold” rating and a $77.00 price target on the stock. Four research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $88.11.

View Our Latest Research Report on UBER

Uber Technologies Stock Performance

The stock has a market cap of $174.25 billion, a P/E ratio of 134.90, a P/E/G ratio of 1.35 and a beta of 1.33. The company has a fifty day moving average price of $73.18 and a 200 day moving average price of $70.51. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.21 and a quick ratio of 1.21.

Uber Technologies (NYSE:UBER – Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.16. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The business had revenue of $10.70 billion during the quarter, compared to the consensus estimate of $10.57 billion. During the same quarter in the prior year, the company posted $0.18 earnings per share. Uber Technologies’s revenue was up 15.9% compared to the same quarter last year. On average, equities analysts expect that Uber Technologies, Inc. will post 1.08 EPS for the current year.

Insider Buying and Selling

In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $72.00, for a total value of $2,880,000.00. Following the transaction, the insider now owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.84% of the stock is currently owned by corporate insiders.

Institutional Trading of Uber Technologies

A number of institutional investors have recently added to or reduced their stakes in UBER. Price T Rowe Associates Inc. MD increased its stake in Uber Technologies by 37.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock worth $2,804,437,000 after acquiring an additional 9,996,508 shares during the last quarter. GQG Partners LLC increased its position in shares of Uber Technologies by 74.1% during the 1st quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock valued at $1,726,381,000 after purchasing an additional 9,541,366 shares during the last quarter. Allen Investment Management LLC increased its position in shares of Uber Technologies by 2,956.5% during the 1st quarter. Allen Investment Management LLC now owns 5,338,291 shares of the ride-sharing company’s stock valued at $410,995,000 after purchasing an additional 5,163,635 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Uber Technologies by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 171,253,318 shares of the ride-sharing company’s stock valued at $13,184,793,000 after purchasing an additional 3,623,951 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Uber Technologies by 36.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company’s stock valued at $864,390,000 after purchasing an additional 3,179,308 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

About Uber Technologies

(Get Free Report)

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.

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