Uber Technologies (NYSE:UBER) Stock Price Up 3.7% – What’s Next?

Shares of Uber Technologies, Inc. (NYSE:UBER) were up 3.7% on Monday. The company 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 session volume of 19,050,010 shares. The stock had previously closed at $68.59.

Uber Technologies News Roundup

Investors following UBER have been watching these news items:

• Positive Sentiment: Uber and McDonald’s expanded their multiyear partnership across 14 markets. Uber will be the preferred delivery provider for McDonald’s app orders in key markets, with loyalty-program integration also planned. The arrangement could increase delivery volume and customer engagement. McDonald’s Expands Uber Partnership in 14 Markets
• Neutral Sentiment: A Reuters Breakingviews columnist floated the possibility that Alphabet could buy Uber to combine Waymo’s autonomous vehicles with Uber’s ride-hailing network. This is commentary and not a reported deal, so it remains speculative. Google Could Buy Uber to Win the Robotaxi Wars
• Negative Sentiment: Recent bearish commentary highlights the possibility that autonomous vehicles could disrupt Uber’s business, alongside driver-shortage concerns. Those risks may temper optimism about Uber’s growth and profitability. Uber: Facing The Ultimate Disruption Test

Analysts Set New Price Targets

Several analysts have issued reports on UBER shares. Needham & Company LLC lowered their price objective on shares of Uber Technologies from $109.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, November 5th. Wedbush reaffirmed an “outperform” rating and set a $91.00 price target on shares of Uber Technologies in a report on Thursday, November 5th. Oppenheimer dropped their price target on shares of Uber Technologies from $100.00 to $90.00 in a research note on Tuesday, August 4th. Scotiabank assumed coverage on shares of Uber Technologies in a report on Wednesday, September 9th. They issued a “sector outperform” rating and a $100.00 price objective on the stock. Finally, Wells Fargo & Company decreased their price objective on shares of Uber Technologies from $92.00 to $87.00 and set an “overweight” rating for the company in a research report on Thursday, November 5th. One analyst has rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $102.08.

Uber Technologies Stock Up 1.0%

The stock’s fifty day simple moving average is $69.87 and its two-hundred day simple moving average is $72.90. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market capitalization of $144.52 billion, a price-to-earnings ratio of 41.88, a PEG ratio of 2.78 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Wednesday, November 4th. The ride-sharing company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.02. The firm had revenue of $14.77 billion for the quarter, compared to analyst estimates of $14.66 billion. Uber Technologies had a net margin of 6.13% and a return on equity of 21.37%. Uber Technologies’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.11 earnings per share. On average, sell-side analysts predict that Uber Technologies, Inc. will post 3.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In related news, insider Andrew Macdonald purchased 70,000 shares of Uber Technologies stock in a transaction dated Friday, September 4th. The stock was bought 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 in the company, valued at approximately $32,327,845.60. The trade was a 19.65% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jill Hazelbaker sold 28,170 shares of the business’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $71.31, for a total value of $2,008,802.70. Following the completion of the sale, the insider directly owned 149,525 shares in the company, valued at $10,662,627.75. This represents a 15.85% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.81% of the stock is owned by corporate insiders.

Institutional Trading of Uber Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Frazier Financial Advisors LLC boosted its stake in shares of Uber Technologies by 8.5% during the 1st quarter. Frazier Financial Advisors LLC now owns 1,942 shares of the ride-sharing company’s stock valued at $140,000 after buying an additional 152 shares during the period. Cornerstone Planning Group LLC lifted its holdings in shares of Uber Technologies by 10.6% during the second quarter. Cornerstone Planning Group LLC now owns 1,624 shares of the ride-sharing company’s stock worth $114,000 after buying an additional 155 shares during the last quarter. Canopy Partners LLC boosted its position in shares of Uber Technologies by 1.8% in the third quarter. Canopy Partners LLC now owns 8,605 shares of the ride-sharing company’s stock valued at $590,000 after acquiring an additional 156 shares during the period. Heartland Bank & Trust Co grew its stake in shares of Uber Technologies by 3.0% in the first quarter. Heartland Bank & Trust Co now owns 5,991 shares of the ride-sharing company’s stock worth $431,000 after acquiring an additional 177 shares during the last quarter. Finally, Evansbrook LLC increased its position in Uber Technologies by 6.2% during the first quarter. Evansbrook LLC now owns 3,036 shares of the ride-sharing company’s stock worth $218,000 after acquiring an additional 178 shares during the period. Institutional investors and hedge funds own 80.24% of the company’s stock.

About Uber Technologies

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.