Uber Technologies (NYSE:UBER) Stock Price Up 7.4%

Uber Technologies Inc (NYSE:UBER)’s share price rose 7.4% during mid-day trading on Wednesday . The stock traded as high as $26.84 and last traded at $28.33, approximately 28,788,187 shares traded hands during trading. A decline of 44% from the average daily volume of 51,725,812 shares. The stock had previously closed at $26.39.

A number of brokerages recently weighed in on UBER. Bernstein Bank began coverage on shares of Uber Technologies in a research report on Friday, January 10th. They issued an “outperform” rating and a $40.00 price target for the company. JMP Securities reduced their price target on shares of Uber Technologies from $56.00 to $37.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. Wedbush reissued a “buy” rating and issued a $50.00 price target on shares of Uber Technologies in a research report on Monday, February 10th. Cfra raised shares of Uber Technologies to a “buy” rating and set a $48.00 price target for the company in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Uber Technologies from $51.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, March 18th. Eight research analysts have rated the stock with a hold rating and thirty-nine have given a buy rating to the stock. Uber Technologies has a consensus rating of “Buy” and a consensus target price of $45.14.

The company has a debt-to-equity ratio of 0.49, a current ratio of 2.47 and a quick ratio of 2.47. The company has a market capitalization of $45.15 billion and a price-to-earnings ratio of -3.39. The business’s 50 day simple moving average is $32.38 and its 200 day simple moving average is $31.62.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Thursday, February 6th. The ride-sharing company reported ($0.64) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.04. The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.06 billion. Uber Technologies had a negative net margin of 60.13% and a negative return on equity of 89.29%. Uber Technologies’s quarterly revenue was up 36.8% on a year-over-year basis. As a group, analysts expect that Uber Technologies Inc will post -2.14 EPS for the current fiscal year.

In other news, CTO Thuan Pham sold 10,000 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $30.56, for a total transaction of $305,600.00. Following the transaction, the chief technology officer now directly owns 4,641,330 shares in the company, valued at $141,839,044.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Garrett Camp sold 170,000 shares of the business’s stock in a transaction dated Thursday, January 9th. The stock was sold at an average price of $33.77, for a total transaction of $5,740,900.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,140,000 shares of company stock worth $71,908,000.

Several institutional investors have recently modified their holdings of the company. FMR LLC increased its stake in shares of Uber Technologies by 120.4% during the fourth quarter. FMR LLC now owns 59,147,845 shares of the ride-sharing company’s stock worth $1,759,055,000 after acquiring an additional 32,316,244 shares during the period. Dragoneer Investment Group LLC grew its position in Uber Technologies by 0.5% during the fourth quarter. Dragoneer Investment Group LLC now owns 21,359,622 shares of the ride-sharing company’s stock worth $635,235,000 after buying an additional 99,416 shares during the period. ICONIQ Capital LLC grew its position in Uber Technologies by 26.7% during the third quarter. ICONIQ Capital LLC now owns 20,143,943 shares of the ride-sharing company’s stock worth $613,786,000 after buying an additional 4,247,004 shares during the period. State Street Corp grew its position in Uber Technologies by 204.9% during the fourth quarter. State Street Corp now owns 11,655,560 shares of the ride-sharing company’s stock worth $346,636,000 after buying an additional 7,833,289 shares during the period. Finally, Janus Henderson Group PLC grew its position in Uber Technologies by 158.1% during the fourth quarter. Janus Henderson Group PLC now owns 11,394,381 shares of the ride-sharing company’s stock worth $338,832,000 after buying an additional 6,979,108 shares during the period. Institutional investors and hedge funds own 58.78% of the company’s stock.

Uber Technologies Company Profile (NYSE:UBER)

Uber Technologies, Inc develops and supports proprietary technology applications that enable independent providers of ridesharing, and meal preparation and delivery services to transact with end-users worldwide. The company operates in two segments, Core Platform and Other Bets. Its driver partners provide ridesharing services through a range of vehicles, such as cars, auto rickshaws, motorbikes, minibuses, or taxis, as well as based on the number of riders under the UberBLACK, UberX, UberPOOL, Express POOL, and Uber Bus names; and restaurant and delivery partners provide meal preparation and delivery services under the Uber Eats name.

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