Uber Technologies (NYSE:UBER) Trading 2.4% Higher on Analyst Upgrade

Uber Technologies, Inc. (NYSE:UBER)’s stock price shot up 2.4% during trading on Thursday after Citigroup raised their price target on the stock from $91.00 to $93.00. Citigroup currently has a buy rating on the stock. Uber Technologies traded as high as $68.34 and last traded at $67.99. 8,259,687 shares were traded during mid-day trading, a decline of 60% from the average session volume of 20,407,805 shares. The stock had previously closed at $66.40.

A number of other analysts have also recently weighed in on the company. Wells Fargo & Company decreased their price objective on Uber Technologies from $95.00 to $89.00 and set an “overweight” rating for the company in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of Uber Technologies in a report on Wednesday. Royal Bank of Canada lowered their price objective on shares of Uber Technologies from $85.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday. Moffett Nathanson restated a “buy” rating and set a $92.00 price objective on shares of Uber Technologies in a research report on Thursday, April 11th. Finally, Susquehanna lifted their target price on shares of Uber Technologies from $60.00 to $85.00 and gave the company a “positive” rating in a report on Thursday, February 8th. Two analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.44.

Insider Buying and Selling

In other Uber Technologies news, insider Jill Hazelbaker sold 20,000 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $77.83, for a total value of $1,556,600.00. Following the transaction, the insider now directly owns 107,290 shares in the company, valued at approximately $8,350,380.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Uber Technologies news, insider Jill Hazelbaker sold 20,000 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $77.83, for a total transaction of $1,556,600.00. Following the transaction, the insider now owns 107,290 shares of the company’s stock, valued at approximately $8,350,380.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Tony West sold 18,750 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $70.08, for a total value of $1,314,000.00. Following the sale, the insider now owns 185,566 shares in the company, valued at approximately $13,004,465.28. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of UBER. Covenant Asset Management LLC raised its stake in Uber Technologies by 0.3% during the first quarter. Covenant Asset Management LLC now owns 52,971 shares of the ride-sharing company’s stock worth $4,078,000 after purchasing an additional 157 shares during the period. Hilltop Holdings Inc. raised its position in shares of Uber Technologies by 2.9% in the 4th quarter. Hilltop Holdings Inc. now owns 5,634 shares of the ride-sharing company’s stock worth $347,000 after buying an additional 157 shares during the period. Sivia Capital Partners LLC boosted its holdings in Uber Technologies by 3.3% in the first quarter. Sivia Capital Partners LLC now owns 4,882 shares of the ride-sharing company’s stock valued at $376,000 after acquiring an additional 157 shares during the last quarter. Wellington Shields Capital Management LLC grew its position in Uber Technologies by 6.1% during the first quarter. Wellington Shields Capital Management LLC now owns 2,756 shares of the ride-sharing company’s stock valued at $212,000 after acquiring an additional 159 shares during the period. Finally, Drive Wealth Management LLC increased its stake in Uber Technologies by 3.6% during the fourth quarter. Drive Wealth Management LLC now owns 4,691 shares of the ride-sharing company’s stock worth $289,000 after acquiring an additional 163 shares during the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Trading Up 2.3 %

The company has a market capitalization of $141.39 billion, a PE ratio of 78.99, a P/E/G ratio of 1.09 and a beta of 1.39. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.19 and a current ratio of 1.19. The business has a fifty day moving average price of $74.57 and a 200 day moving average price of $65.85.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.53). Uber Technologies had a net margin of 5.06% and a return on equity of 18.95%. The business had revenue of $10.13 billion during the quarter, compared to analysts’ expectations of $10.09 billion. During the same quarter in the previous year, the business posted ($0.08) EPS. The company’s quarterly revenue was up 14.8% on a year-over-year basis. Analysts expect that Uber Technologies, Inc. will post 1.23 EPS 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.