Uber Technologies (NYSE:UBER) Trading 0.6% Higher Following Analyst Upgrade

Shares of Uber Technologies, Inc. (NYSE:UBER) traded up 0.6% during trading on Friday after Truist Financial raised their price target on the stock from $90.00 to $92.00. Truist Financial currently has a buy rating on the stock. Uber Technologies traded as high as $76.70 and last traded at $75.39. 4,829,639 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 19,409,664 shares. The stock had previously closed at $74.96.

UBER has been the subject of a number of other reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $82.00 target price on shares of Uber Technologies in a research report on Thursday, February 6th. Benchmark reiterated a “hold” rating on shares of Uber Technologies in a report on Friday, January 31st. Loop Capital upped their price target on shares of Uber Technologies from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. reduced their price objective on shares of Uber Technologies from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Finally, Wells Fargo & Company dropped their target price on Uber Technologies from $90.00 to $87.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Eight analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $90.71.

Insider Buying and Selling at Uber Technologies

In other news, insider Jill Hazelbaker sold 31,000 shares of Uber Technologies stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total value of $2,511,620.00. Following the completion of the sale, the insider now directly owns 86,973 shares of the company’s stock, valued at approximately $7,046,552.46. The trade was a 26.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Uber Technologies

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Uber Technologies by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 180,766,683 shares of the ride-sharing company’s stock valued at $10,903,846,000 after purchasing an additional 2,364,525 shares in the last quarter. Capital Research Global Investors increased its position in shares of Uber Technologies by 79.0% during the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock worth $7,125,728,000 after acquiring an additional 52,125,476 shares during the period. Geode Capital Management LLC boosted its holdings in Uber Technologies by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 43,561,447 shares of the ride-sharing company’s stock valued at $2,621,929,000 after purchasing an additional 1,061,088 shares during the period. Capital World Investors grew its stake in Uber Technologies by 10.1% during the 4th quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company’s stock worth $1,831,021,000 after purchasing an additional 2,792,039 shares in the last quarter. Finally, Edgewood Management LLC increased its holdings in Uber Technologies by 10.5% during the 3rd quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock worth $2,070,813,000 after purchasing an additional 2,627,768 shares during the period. 80.24% of the stock is owned by institutional investors and hedge funds.

Uber Technologies Stock Up 0.4 %

The business has a 50-day simple moving average of $70.62 and a 200-day simple moving average of $71.63. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07. The company has a market cap of $157.16 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, topping the consensus estimate of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. On average, equities analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

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.