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 settling at $61.71, with a total volume of 7,882,461 shares traded. This volume represented a 59% decrease compared to the average session volume, which is typically around 19,278,982 shares. The previous close for the stock was $61.87.

Wall Street Analysts Forecast Growth

Several financial analysts have recently provided insights regarding Uber's stock performance. Daiwa Capital Markets downgraded their rating on Uber Technologies from "outperform" to "neutral," establishing a price target of $84.00 in a report dated October 17th. Conversely, Oppenheimer raised their price target from $90.00 to $95.00 while maintaining an "outperform" rating as of September 27th. Wells Fargo also adjusted their target downward from $97.00 to $90.00, giving the stock an "overweight" rating in a report released on November 1st. On the same day, KeyCorp lowered its price objective from $90.00 to $85.00 while keeping an "overweight" stance. Overall, six analysts have given a hold rating, while thirty-two have recommended buying, with one analyst providing a strong buy rating. Currently, MarketBeat reports a consensus rating of "Moderate Buy" for Uber Technologies, with a target price set at $90.51.

Uber Technologies Stock Down 0.3%

The fundamental metrics of the company reflect a debt-to-equity ratio of 0.70, and both the quick ratio and current ratio are at 1.41. The 50-day moving average stands at $70.86, while the 200-day moving average is slightly higher at $71.18. Uber Technologies boasts a market capitalization of approximately $129.94 billion, a price-to-earnings ratio (PE) of 30.70, and a price-to-earnings-growth ratio of 0.75. Additionally, the beta of the stock is noted at 1.33.

On October 31st, Uber Technologies disclosed its latest quarterly earnings, revealing an earnings per share (EPS) of $1.20. This figure surpassed analysts' expectations, which were set at $0.41, by $0.79. The company achieved a net margin of 10.49% and a return on equity of 33.46%, with revenue reported at $11.19 billion—exceeding analyst projections of $10.99 billion. Year-over-year, this revenue reflected a growth of 20.4%, a significant upturn compared to the same quarter last year. Analysts have projected that Uber Technologies, Inc. is expected to post an EPS of 1.89 for the current fiscal year.

Insider Activity at Uber Technologies

In recent insider activity, Jill Hazelbaker, an insider at Uber Technologies, sold 27,780 shares on November 25th. This transaction occurred at an average price of $72.90, culminating in a total sale of $2,025,162.00. Following this sale, Hazelbaker still retains 107,289 shares valued at approximately $7,821,368.10, indicating a decrease of 20.57% in her ownership. This transaction has been filed with the Securities and Exchange Commission (SEC), and currently, corporate insiders hold about 3.80% of the stock.

Hedge Funds Weigh In On Uber Technologies

Recent activities among large investors reflect a notable change in their positions regarding Uber Technologies. GHP Investment Advisors Inc. increased its stake by 222.7% in the second quarter, obtaining 355 shares valued at around $26,000 after acquiring an additional 245 shares. Meanwhile, WR Wealth Planners LLC saw a significant increase of 563.9% in their position, now owning 405 shares worth approximately $29,000. Additionally, MCF Advisors LLC boosted their holdings by an astonishing 1,038.5%, bringing their total to 444 shares valued at $32,000 after adding 405 shares. Fairfield Financial Advisors LTD also acquired a new stake in Uber Technologies, valued at $36,000. In the third quarter, Financial Management Professionals Inc. raised its position by 104.1%, now owning 494 shares valued at around $37,000 after buying 252 additional shares. Currently, hedge funds and institutional investors collectively own about 80.24% of Uber's stock.

About Uber Technologies

Uber Technologies, Inc. specializes in developing and operating technology applications across various regions, including the United States, Canada, Latin America, Europe, the Middle East, Africa, and parts of Asia (excluding China and Southeast Asia). The company operates through three primary segments: Mobility, Delivery, and Freight. The Mobility segment connects users with different transportation options, including ridesharing, carsharing, micromobility, rentals, public transit, taxis, and others, while also offering a variety of vehicle types and services, including financial partnerships and advertising solutions.

Uber, stock, investment