Uber Technologies (NYSE:UBER) Stock Price Up 1.4% – Should You Buy?

Uber Technologies, Inc. (NYSE:UBER)’s stock price traded up 1.4% during mid-day trading on Thursday . The company traded as high as $72.75 and last traded at $72.18. 4,697,928 shares were traded during trading, a decline of 74% from the average session volume of 18,092,646 shares. The stock had previously closed at $71.16.

Wall Street Analysts Forecast Growth

UBER has been the subject of a number of research analyst reports. TD Cowen upped their price target on shares of Uber Technologies from $88.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Benchmark reissued a “hold” rating on shares of Uber Technologies in a research note on Friday, November 1st. Bank of America lifted their price target on shares of Uber Technologies from $88.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Melius began coverage on Uber Technologies in a research report on Monday, July 22nd. They set a “hold” rating and a $77.00 price objective for the company. Finally, Wells Fargo & Company decreased their target price on Uber Technologies from $97.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.32.

Uber Technologies Price Performance

The stock’s fifty day moving average is $75.40 and its 200-day moving average is $71.01. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a market capitalization of $154.26 billion, a P/E ratio of 36.45, a PEG ratio of 0.71 and a beta of 1.34.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.79. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The company had revenue of $11.19 billion during the quarter, compared to the consensus estimate of $10.99 billion. During the same quarter in the prior year, the company posted $0.10 EPS. The firm’s revenue was up 20.4% on a year-over-year basis. On average, equities analysts anticipate that Uber Technologies, Inc. will post 1.83 earnings per share for the current year.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the completion of the sale, the insider now directly owns 127,352 shares in the company, valued at $9,169,344. This represents a 23.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

Large investors have recently made changes to their positions in the business. Kingsview Wealth Management LLC boosted its position in shares of Uber Technologies by 5.6% in the first quarter. Kingsview Wealth Management LLC now owns 12,784 shares of the ride-sharing company’s stock valued at $984,000 after acquiring an additional 680 shares during the period. Orion Portfolio Solutions LLC increased its holdings in shares of Uber Technologies by 19.0% during the 1st quarter. Orion Portfolio Solutions LLC now owns 25,216 shares of the ride-sharing company’s stock worth $1,941,000 after purchasing an additional 4,024 shares during the period. Acadian Asset Management LLC raised its position in shares of Uber Technologies by 39.5% during the first quarter. Acadian Asset Management LLC now owns 84,298 shares of the ride-sharing company’s stock valued at $6,484,000 after buying an additional 23,851 shares during the last quarter. Blue Barn Wealth LLC bought a new stake in shares of Uber Technologies in the first quarter valued at about $236,000. Finally, Cercano Management LLC acquired a new stake in Uber Technologies during the first quarter worth about $66,035,000. Institutional investors and hedge funds 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.