Uber Technologies (NYSE:UBER) Shares Down 1.2% - Here's Why

On Friday, the stock price of Uber Technologies, Inc. (NYSE:UBER) declined by 1.2%. The shares reached a low of $60.50 before closing at $60.67. Around 8,994,130 shares were traded during the day, marking a 52% drop from the average daily trading volume of 18,848,064 shares. The previous closing price was $61.41.

Recent Analyst Ratings

Several research analysts have provided their insights on Uber shares recently. Evercore ISI raised its target price from $90.00 to $120.00, assigning the firm an "outperform" rating in a research note dated October 31st. Conversely, Wells Fargo & Company reduced its target from $97.00 to $90.00 while maintaining an "overweight" rating in a report published on November 1st. Loop Capital also increased their price target from $84.00 to $86.00 with a "buy" rating issued on November 6th. Benchmark affirmed a "hold" rating, also on November 1st. Additionally, DA Davidson elevated its target price from $82.00 to $84.00, giving it a "buy" designation. Currently, six analysts classify Uber shares as a hold, thirty-two as a buy, and one as a strong buy, according to data from MarketBeat.com, which reflects a consensus rating of "Moderate Buy" with a target price averaging $90.51.

Stock Performance Details

The company has a debt-to-equity ratio of 0.70 and maintains a current and quick ratio of 1.41. Its 50-day simple moving average stands at $73.82, while the 200-day moving average is at $71.35. Uber Technologies has a market capitalization of $127.99 billion, a price-to-earnings ratio of 30.18, a price-to-earnings-growth ratio of 0.76, and a beta of 1.33.

Uber Technologies recently reported its earnings results on October 31st. For the quarter, the company posted earnings per share (EPS) of $1.20, significantly exceeding analysts' expectations of $0.41. With a net margin of 10.49% and a return on equity of 33.46%, the firm's revenue was reported at $11.19 billion, surpassing the forecasted $10.99 billion. This revenue figure reflects a 20.4% year-over-year increase. Current predictions suggest that Uber Technologies, Inc. will report an EPS of 1.89 for the current fiscal year.

Insider Transactions

In other news regarding Uber Technologies, insider Jill Hazelbaker sold 40,000 shares of company stock on September 16th. The shares were sold at an average price of $72.00, totaling $2,880,000. Following this transaction, Hazelbaker's remaining shares amount to 127,352, worth approximately $9,169,344—indicating a 23.90% reduction in personal ownership. This transaction was disclosed publicly as required by SEC regulations. Insiders currently hold 3.84% of the company's stock.

Institutional Investors Activity

Recent activity among institutional investors and hedge funds has seen increased buying and selling of Uber shares. For instance, GHP Investment Advisors Inc. expanded its Uber holdings by 222.7% during the second quarter, now owning 355 shares worth $26,000 after adding 245 shares. Similarly, WR Wealth Planners LLC increased its stake by a staggering 563.9%, now possessing 405 shares valued at $29,000. MCF Advisors LLC also expanded by 1,038.5%, owning 444 shares valued at $32,000 after purchasing an additional 405 shares. Moreover, NewSquare Capital LLC raised its interest by 1,509.4%, now holding 515 shares worth $37,000 after acquiring 483 shares. Overall, around 80.24% of Uber's shares are owned by hedge funds and various institutional investors.

About Uber Technologies

Uber Technologies, Inc. develops and manages proprietary technology applications across various regions, including the U.S., Canada, Latin America, Europe, the Middle East, Africa, and parts of Asia. Its operations are divided into three segments: Mobility, Delivery, and Freight. The Mobility segment connects users with a variety of transportation options such as ridesharing, car sharing, micromobility, rentals, public transit, taxis, and other means, while also offering diverse vehicle types and financial product partnerships.

Uber, Trading, Stock, Investment