Uber Technologies (NYSE:UBER) Trading Down 3.8% After Analyst Downgrade

Uber Technologies, Inc. (NYSE:UBER)’s stock price was down 3.8% during mid-day trading on Tuesday after Morgan Stanley lowered their price target on the stock from $115.00 to $110.00. Morgan Stanley currently has an overweight rating on the stock. Uber Technologies traded as low as $88.91 and last traded at $89.0710. Approximately 17,041,938 shares traded hands during trading, a decline of 17% from the average daily volume of 20,505,943 shares. The stock had previously closed at $92.57.

A number of other brokerages have also recently commented on UBER. Truist Financial increased their price target on shares of Uber Technologies from $96.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. The Goldman Sachs Group reissued a “buy” rating on shares of Uber Technologies in a research report on Wednesday, November 5th. Piper Sandler set a $107.00 price objective on Uber Technologies in a research note on Wednesday, November 5th. UBS Group set a $122.00 target price on Uber Technologies and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Finally, TD Cowen boosted their target price on Uber Technologies from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Uber Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $108.60.

Insider Activity at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $94.41, for a total value of $519,255.00. Following the transaction, the chief financial officer owned 20,330 shares in the company, valued at approximately $1,919,355.30. The trade was a 21.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dara Khosrowshahi sold 300,000 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $95.37, for a total transaction of $28,611,000.00. Following the sale, the chief executive officer directly owned 1,132,544 shares of the company’s stock, valued at approximately $108,010,721.28. This trade represents a 20.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 567,625 shares of company stock worth $55,385,660 in the last quarter. 3.84% of the stock is owned by insiders.

Hedge Funds Weigh In On Uber Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. Measured Wealth Private Client Group LLC purchased a new stake in Uber Technologies in the 3rd quarter valued at about $25,000. Westend Capital Management LLC bought a new position in Uber Technologies in the 3rd quarter valued at $27,000. Kilter Group LLC bought a new position in shares of Uber Technologies during the 2nd quarter worth $26,000. West Oak Capital LLC bought a new stake in shares of Uber Technologies during the 2nd quarter valued at $28,000. Finally, Trust Co. of Toledo NA OH bought a new stake in Uber Technologies during the 2nd quarter worth approximately $30,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Price Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.15. The firm has a market capitalization of $174.84 billion, a P/E ratio of 10.82 and a beta of 1.19. The business has a 50 day simple moving average of $92.23 and a two-hundred day simple moving average of $91.82.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $2.44. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.The business had revenue of $13.47 billion for the quarter, compared to the consensus estimate of $13.25 billion. During the same quarter last year, the business posted $1.20 earnings per share. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, sell-side analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

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.