Uber Technologies (NYSE:UBER) Stock Price Down 1% Following Analyst Downgrade

Uber Technologies, Inc. (NYSE:UBER) fell 1% during mid-day trading on Wednesday after Piper Sandler lowered their price target on the stock from $98.00 to $82.00. Piper Sandler currently has an overweight rating on the stock. Uber Technologies traded as low as $67.23 and last traded at $67.39. 4,649,955 shares were traded during mid-day trading, a decline of 80% from the average session volume of 23,645,313 shares. The stock had previously closed at $68.07.

Several other research analysts have also weighed in on the company. Wells Fargo & Company reduced their price objective on Uber Technologies from $97.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Royal Bank of Canada upped their price objective on shares of Uber Technologies from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of Uber Technologies in a research note on Monday. KeyCorp dropped their price target on shares of Uber Technologies from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Finally, Gordon Haskett raised Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Thursday, October 31st. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $91.08.

Insider Transactions at Uber Technologies

In other news, insider Jill Hazelbaker sold 27,780 shares of Uber Technologies stock in a transaction dated Monday, November 25th. The shares were 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 in the company, valued at approximately $7,821,368.10. The trade was a 20.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.84% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Global Wealth Management Investment Advisory Inc. grew its position in Uber Technologies by 26.7% during the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 47,552 shares of the ride-sharing company’s stock worth $2,868,000 after acquiring an additional 10,020 shares during the last quarter. Bristlecone Advisors LLC grew its holdings in shares of Uber Technologies by 1.6% during the fourth quarter. Bristlecone Advisors LLC now owns 66,062 shares of the ride-sharing company’s stock worth $3,985,000 after purchasing an additional 1,013 shares during the last quarter. Soltis Investment Advisors LLC increased its stake in shares of Uber Technologies by 8.7% in the fourth quarter. Soltis Investment Advisors LLC now owns 4,254 shares of the ride-sharing company’s stock valued at $257,000 after buying an additional 342 shares in the last quarter. Silicon Valley Capital Partners raised its holdings in shares of Uber Technologies by 9.7% in the fourth quarter. Silicon Valley Capital Partners now owns 35,183 shares of the ride-sharing company’s stock valued at $2,122,000 after buying an additional 3,111 shares during the last quarter. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in Uber Technologies during the 4th quarter worth about $90,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Uber Technologies Trading Down 1.2 %

The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. The stock has a market cap of $141.56 billion, a P/E ratio of 33.53, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36. The business’s fifty day simple moving average is $65.83 and its 200 day simple moving average is $70.19.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.79. The firm had revenue of $11.19 billion during the quarter, compared to analysts’ expectations of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. Uber Technologies’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 EPS. As a group, analysts expect that Uber Technologies, Inc. will post 1.86 EPS for the current year.

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.