Uber Technologies (NYSE:UBER) Stock Price Down 0.3% - What's Next?

Uber Technologies, Inc. (NYSE:UBER) experienced a slight decline of 0.3% in its stock price during mid-day trading on Wednesday. The stock hit a low of $60.88 before closing at $61.71. A total of 7,882,461 shares were exchanged during this trading session, marking a significant decrease of 59% compared to the average session volume, which stands at 19,278,982 shares. In the previous session, the stock closed at $61.87.

Wall Street Analysts Forecast Growth

Recent assessments by equity analysts present a mixed outlook for Uber Technologies. On October 17, Daiwa Capital Markets downgraded the stock from an "outperform" to a "neutral" rating, setting an $84.00 price target. In contrast, Oppenheimer raised their price objective from $90.00 to $95.00, maintaining an "outperform" rating on September 27. Wells Fargo lowered their target from $97.00 to $90.00 while issuing an "overweight" rating on November 1. Meanwhile, Cantor Fitzgerald reaffirmed an "overweight" rating with a $90.00 target and KeyCorp adjusted their aim from $90.00 to $85.00 on the same day. Overall, six analysts rated the stock as a hold, thirty-two gave it a buy rating, and one issued a strong buy recommendation. MarketBeat reports a consensus rating of "Moderate Buy" with a target price of $90.51.

Uber Technologies Stock Down 0.3%

The financial health of Uber Technologies shows a debt-to-equity ratio of 0.70, a quick ratio of 1.41, and the same current ratio of 1.41. The stock's fifty-day moving average is $70.86, while the 200-day moving average stands at $71.18. Additionally, the company has a market capitalization of $129.94 billion, with a price-to-earnings (PE) ratio of 30.70 and a price-to-earnings-growth (PEG) ratio of 0.75. The stock's beta is noted at 1.33, indicating its volatility compared to the market.

In its latest quarterly earnings report released on October 31, Uber Technologies posted an earnings per share (EPS) of $1.20, remarkably surpassing the analysts' expectations of $0.41 by $0.79. The company noted a net margin of 10.49% and a return on equity of 33.46%. Revenue reported for the quarter was $11.19 billion, exceeding the projected $10.99 billion. Comparing year-over-year results, the EPS rose from $0.10 to the current figure. Analysts anticipate that Uber Technologies, Inc. will achieve an EPS of 1.89 for the ongoing fiscal year.

Insider Activity at Uber Technologies

In other developments, Jill Hazelbaker, an insider at Uber, sold 27,780 shares on November 25 at an average price of $72.90, totaling approximately $2,025,162.00. Post-sale, Hazelbaker retains 107,289 shares, valued at about $7,821,368.10, reflecting a decrease of 20.57% in their ownership. This transaction was documented with the Securities & Exchange Commission, where the details can be accessed. Currently, 3.80% of the stock is held by corporate insiders.

Hedge Funds Weigh In On Uber Technologies

Large investors have recently made adjustments to their stakes in Uber Technologies. GHP Investment Advisors Inc. increased its position by 222.7% in the second quarter, owning 355 shares worth $26,000 after acquiring 245 additional shares. WR Wealth Planners LLC expanded its holdings by 563.9%, now owning 405 shares worth $29,000 after adding 344 shares. MCF Advisors LLC raised investments by 1,038.5%, owning 444 shares valued at $32,000 after purchasing 405 shares. Fairfield Financial Advisors LTD also entered a new position worth $36,000. Lastly, Financial Management Professionals Inc. grew its share by 104.1%, now holding 494 shares valued at $37,000 after acquiring 252 additional shares. Notably, 80.24% of Uber Technologies' stock is owned by institutional investors and hedge funds.

About Uber Technologies

Uber Technologies, Inc. develops and runs proprietary technology applications across several global markets, including North America, Latin America, Europe, and parts of Asia. The company operates through three primary segments: Mobility, Delivery, and Freight. The Mobility segment provides a platform that connects consumers with various transportation options such as ridesharing, carsharing, micromobility, rentals, public transit, and taxis, along with financial partnerships and advertising services.

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