Uber Technologies (NYSE:UBER) Sets New 12-Month High – Time to Buy?

Uber Technologies, Inc. (NYSE:UBER)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $88.31 and last traded at $88.10, with a volume of 39057142 shares trading hands. The stock had previously closed at $82.81.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on UBER shares. Citigroup lifted their price objective on shares of Uber Technologies from $92.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. The Goldman Sachs Group boosted their price target on shares of Uber Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. KGI Securities reiterated a “neutral” rating and issued a $78.00 price objective on shares of Uber Technologies in a research note on Tuesday, March 11th. JPMorgan Chase & Co. lifted their target price on shares of Uber Technologies from $80.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Finally, Raymond James increased their price target on Uber Technologies from $95.00 to $100.00 and gave the company a “strong-buy” rating in a research report on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Uber Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $92.69.

Uber Technologies Trading Down 1.7%

The firm has a 50-day simple moving average of $75.57 and a 200-day simple moving average of $71.82. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The stock has a market cap of $188.50 billion, a PE ratio of 19.77, a P/E/G ratio of 0.89 and a beta of 1.43.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.50 by $0.33. The company had revenue of $11.53 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. Uber Technologies’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.32) earnings per share. Equities analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 31,000 shares of the firm’s 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 owns 86,973 shares of the company’s stock, valued at $7,046,552.46. This trade represents a 26.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Tony West sold 23,404 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the transaction, the insider now directly owns 114,241 shares in the company, valued at approximately $8,027,715.07. The trade was a 17.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 114,788 shares of company stock valued at $9,028,690 over the last 90 days. Insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in UBER. OMERS ADMINISTRATION Corp lifted its position in Uber Technologies by 15.9% during the first quarter. OMERS ADMINISTRATION Corp now owns 207,763 shares of the ride-sharing company’s stock valued at $15,138,000 after purchasing an additional 28,518 shares during the period. Broyhill Asset Management LLC raised its stake in Uber Technologies by 168.4% during the 1st quarter. Broyhill Asset Management LLC now owns 20,732 shares of the ride-sharing company’s stock valued at $1,511,000 after buying an additional 13,007 shares during the last quarter. Truvestments Capital LLC lifted its holdings 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 buying an additional 339 shares during the period. Wealth Preservation Advisors LLC purchased a new position in shares of Uber Technologies in the 1st quarter worth $8,990,000. Finally, Transamerica Financial Advisors LLC bought a new stake in shares of Uber Technologies in the first quarter worth $3,916,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.

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.