Uber Technologies (NYSE:UBER) Trading 4.4% Higher on Better-Than-Expected Earnings

Uber Technologies, Inc. (NYSE:UBER)’s share price shot up 4.4% during mid-day trading on Thursday following a stronger than expected earnings report. The company traded as high as $67.89 and last traded at $67.34. 14,039,447 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 27,305,328 shares. The stock had previously closed at $64.48.

The ride-sharing company reported $3.21 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on UBER. KeyCorp lowered their target price on shares of Uber Technologies from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Wolfe Research boosted their price target on Uber Technologies from $90.00 to $92.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Daiwa Capital Markets downgraded Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 price objective on the stock. in a report on Thursday, October 17th. Jefferies Financial Group upped their target price on Uber Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Citigroup cut their price target on Uber Technologies from $98.00 to $92.00 and set a “buy” rating on the stock in a research note on Thursday. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.44.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the sale, the insider now directly owns 107,289 shares of the company’s stock, valued at approximately $7,821,368.10. This trade represents a 20.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC lifted its stake in shares of Uber Technologies by 36.9% in the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock valued at $1,596,086,000 after purchasing an additional 7,137,512 shares during the period. Assenagon Asset Management S.A. increased its holdings in Uber Technologies by 670.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock valued at $398,809,000 after buying an additional 5,753,637 shares in the last quarter. Montrusco Bolton Investments Inc. acquired a new position in shares of Uber Technologies in the fourth quarter worth about $166,072,000. Edgewood Management LLC boosted its stake in shares of Uber Technologies by 10.5% during the 3rd quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock worth $2,070,813,000 after acquiring an additional 2,627,768 shares in the last quarter. Finally, AMF Tjanstepension AB acquired a new stake in shares of Uber Technologies during the 3rd quarter valued at about $163,468,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Uber Technologies Trading Up 4.5 %

The stock has a market cap of $141.87 billion, a PE ratio of 33.45, a price-to-earnings-growth ratio of 0.77 and a beta of 1.39. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41. The company has a 50 day moving average of $65.46 and a two-hundred day moving average of $70.11.

Uber Technologies Company Profile

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.