Uber Technologies (NYSE:UBER) Stock Price Up 1.1% – Still a Buy?

Uber Technologies, Inc. (NYSE:UBER) shares rose 1.1% during mid-day trading on Friday . The stock traded as high as $68.96 and last traded at $69.07. Approximately 4,366,853 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 24,337,238 shares. The stock had previously closed at $68.30.

Analysts Set New Price Targets

UBER has been the subject of several analyst reports. The Goldman Sachs Group reiterated a “buy” rating and issued a $96.00 target price on shares of Uber Technologies in a research note on Thursday, January 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of Uber Technologies in a research note on Thursday, October 31st. DA Davidson boosted their target price on shares of Uber Technologies from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. UBS Group boosted their target price on shares of Uber Technologies from $102.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price objective on shares of Uber Technologies in a research report on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Uber Technologies has an average rating of “Moderate Buy” and a consensus price target of $91.53.

Uber Technologies Price Performance

The stock’s 50-day simple moving average is $66.02 and its 200 day simple moving average is $70.29. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70. The company has a market cap of $145.12 billion, a price-to-earnings ratio of 34.29, a PEG ratio of 0.77 and a beta of 1.36.

Uber Technologies (NYSE:UBER) last issued 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. The business had revenue of $11.19 billion for the quarter, compared to analysts’ expectations of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 earnings per share. On average, equities research analysts anticipate that Uber Technologies, Inc. will post 1.86 EPS for the current fiscal year.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $72.90, for a total value of $2,025,162.00. Following the transaction, the insider now directly owns 107,289 shares in the company, valued at $7,821,368.10. This represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Uber Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Caxton Associates LP lifted its holdings in shares of Uber Technologies by 65.8% during the second quarter. Caxton Associates LP now owns 22,355 shares of the ride-sharing company’s stock worth $1,625,000 after purchasing an additional 8,872 shares during the period. Armistice Capital LLC increased its stake in shares of Uber Technologies by 37.0% during the 2nd quarter. Armistice Capital LLC now owns 264,894 shares of the ride-sharing company’s stock valued at $19,252,000 after acquiring an additional 71,598 shares during the last quarter. Ameriprise Financial Inc. increased its position in 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 worth $864,390,000 after purchasing an additional 3,179,308 shares in the last quarter. Eminence Capital LP increased its position in Uber Technologies by 73.9% during the 2nd quarter. Eminence Capital LP now owns 2,034,475 shares of the ride-sharing company’s stock worth $147,866,000 after purchasing an additional 864,779 shares in the last quarter. Finally, Disciplined Equity Management Inc. increased its position in Uber Technologies by 9.4% during the 2nd quarter. Disciplined Equity Management Inc. now owns 11,500 shares of the ride-sharing company’s stock worth $836,000 after purchasing an additional 990 shares in the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

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.