Shares of Uber Technologies, Inc. (NYSE:UBER – Get Free Report) rose 3.7% on Monday. The stock traded as high as $71.26 and last traded at $71.1260. 19,030,848 shares were traded during trading, a decline of 0% from the average daily volume of 19,050,010 shares. The stock had previously closed at $68.59.
Uber Technologies News Roundup
Here are the key news stories impacting Uber Technologies this week:
- Positive Sentiment: Uber and McDonald’s expanded their multi-year partnership across 14 markets. Uber Direct will help fulfill orders placed through McDonald’s app, while new delivery and loyalty features could bring more orders and deepen Uber’s role as a preferred delivery partner. McDonald’s and Uber expand global partnership
- Positive Sentiment: Uber launched in-app parking reservations in 15 U.S. cities after acquiring SpotHero. The feature adds another potential source of bookings, and Uber One members can earn credits on eligible parking reservations. Uber launches parking service
- Positive Sentiment: Citigroup initiated coverage with a Buy rating and a $105 price target, signaling confidence in potential upside. Citigroup rating coverage
- Neutral Sentiment: Uber’s Q3 call highlighted record monthly active users and strong demand in rides and delivery, but management said mobility growth was held back by supply constraints in some international markets. Analyst questions from Uber’s Q3 earnings call
- Negative Sentiment: Despite rising bookings and record cash flow, one income-statement figure is reportedly weighing on investor sentiment. The article’s summary does not specify the figure, leaving a potential concern unresolved. Wall Street sees potential upside for Uber
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on the company. BTIG Research lowered their price objective on Uber Technologies from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, November 4th. Piper Sandler reiterated an “overweight” rating and set a $100.00 target price (down from $110.00) on shares of Uber Technologies in a research report on Thursday, August 13th. Jefferies Financial Group lifted their target price on shares of Uber Technologies from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. DA Davidson lowered their price target on shares of Uber Technologies from $107.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Finally, Citigroup began coverage on shares of Uber Technologies in a research note on Monday. They set a “buy” rating and a $105.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.02.
Read Our Latest Stock Report on Uber Technologies
Uber Technologies Price Performance
The business has a fifty day moving average of $70.14 and a 200-day moving average of $73.03. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.55. The firm has a market cap of $145.28 billion, a PE ratio of 42.09, a PEG ratio of 8.94 and a beta of 1.33.
Uber Technologies (NYSE:UBER – Get Free Report) last posted its earnings results on Wednesday, November 4th. The ride-sharing company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. Uber Technologies had a return on equity of 21.37% and a net margin of 6.13%. The business had revenue of $14.77 billion during the quarter, compared to analyst estimates of $14.66 billion. During the same quarter in the previous year, the firm earned $3.11 EPS. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, research analysts predict that Uber Technologies, Inc. will post 3.11 earnings per share for the current year.
Insider Activity
In other news, insider Jill Hazelbaker sold 28,170 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $71.31, for a total value of $2,008,802.70. Following the completion of the transaction, the insider directly owned 149,525 shares in the company, valued at approximately $10,662,627.75. This trade represents a 15.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew Macdonald acquired 70,000 shares of Uber Technologies stock in a transaction that occurred on Friday, September 4th. The shares were purchased at an average cost of $75.83 per share, with a total value of $5,308,100.00. Following the purchase, the insider owned 426,320 shares of the company’s stock, valued at $32,327,845.60. This represents a 19.65% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 3.81% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. California First Leasing Corp lifted its position in shares of Uber Technologies by 46.3% during the 3rd quarter. California First Leasing Corp now owns 113,103 shares of the ride-sharing company’s stock valued at $7,749,000 after buying an additional 35,773 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in Uber Technologies by 2.9% in the 3rd quarter. Pictet Asset Management Holding SA now owns 3,342,977 shares of the ride-sharing company’s stock worth $229,027,000 after acquiring an additional 94,508 shares in the last quarter. Formidable Asset Management LLC increased its holdings in Uber Technologies by 5.2% in the 3rd quarter. Formidable Asset Management LLC now owns 24,653 shares of the ride-sharing company’s stock worth $1,779,000 after acquiring an additional 1,222 shares in the last quarter. Guidance Capital Inc. raised its stake in Uber Technologies by 2.3% during the 3rd quarter. Guidance Capital Inc. now owns 16,387 shares of the ride-sharing company’s stock worth $1,093,000 after acquiring an additional 376 shares during the period. Finally, International Assets Investment Management LLC raised its stake in Uber Technologies by 279.5% during the 3rd quarter. International Assets Investment Management LLC now owns 40,000 shares of the ride-sharing company’s stock worth $2,740,000 after acquiring an additional 29,460 shares during the period. 80.24% of the stock is currently owned by hedge funds and other institutional investors.
Uber Technologies Company Profile
Uber Technologies, Inc operates a technology platform that connects people seeking transportation and delivery services with drivers, couriers, merchants and other providers. Its offerings include rides through the Uber app and food and grocery delivery through Uber Eats.
The company also provides logistics services through Uber Freight, which connects shippers with carriers and offers tools for managing freight transportation. Uber’s platform serves users and businesses across markets in North America, Latin America, Europe, the Middle East, Africa and Asia-Pacific.
Founded in San Francisco in 2009 as UberCab, the company expanded from ride-hailing into delivery and freight.
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