Uber Technologies (NYSE:UBER) Shares Up 3.5% Following Analyst Upgrade

Uber Technologies, Inc. (NYSE:UBER) shares rose 3.5% on Wednesday after Arete Research upgraded the stock from a hold rating to a buy rating. Arete Research now has a $125.00 price target on the stock, up from their previous price target of $82.00. Uber Technologies traded as high as $91.38 and last traded at $90.6120. Approximately 21,288,581 shares changed hands during trading, an increase of 3% from the average daily volume of 20,628,055 shares. The stock had previously closed at $87.57.

UBER has been the topic of a number of other reports. Wells Fargo & Company dropped their target price on shares of Uber Technologies from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Wedbush lowered their price target on shares of Uber Technologies from $85.00 to $84.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Sanford C. Bernstein upped their price objective on Uber Technologies from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, November 5th. Benchmark reissued a “hold” rating on shares of Uber Technologies in a report on Tuesday, October 28th. Finally, Stifel Nicolaus set a $122.00 target price on Uber Technologies in a research report on Tuesday, November 4th. Two research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.19.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, CEO Dara Khosrowshahi sold 150,000 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $100.48, for a total transaction of $15,072,000.00. Following the sale, the chief executive officer owned 982,544 shares of the company’s stock, valued at $98,726,021.12. The trade was a 13.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $94.41, for a total value of $519,255.00. Following the completion of the transaction, the chief financial officer directly owned 20,330 shares of the company’s stock, valued at $1,919,355.30. The trade was a 21.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 567,625 shares of company stock valued at $55,385,660 in the last 90 days. 3.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Measured Wealth Private Client Group LLC purchased a new position in Uber Technologies during the third quarter valued at approximately $25,000. Kilter Group LLC bought a new position in Uber Technologies in the 2nd quarter valued at $26,000. Westend Capital Management LLC bought a new position in Uber Technologies in the 3rd quarter valued at $27,000. West Oak Capital LLC purchased a new position in shares of Uber Technologies during the 2nd quarter valued at $28,000. Finally, Truvestments Capital LLC grew its position in shares of Uber Technologies by 498.5% during the 1st quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company’s stock valued at $30,000 after purchasing an additional 339 shares in the last quarter. Institutional investors own 80.24% of the company’s stock.

Uber Technologies Trading Up 0.3%

The company has a debt-to-equity ratio of 0.37, a current ratio of 1.15 and a quick ratio of 1.15. The stock has a market cap of $188.98 billion, a P/E ratio of 11.69 and a beta of 1.19. The firm’s fifty day moving average price is $92.94 and its two-hundred day moving average price is $91.82.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $2.44. The company had revenue of $13.47 billion during the quarter, compared to analyst estimates of $13.25 billion. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.The firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the company earned $1.20 earnings per share. As a group, equities research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current 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.