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

Uber Technologies, Inc. (NYSE:UBER) saw a decline of 0.3% in its stock price during midday trading on Wednesday. The shares dropped to as low as $60.88 before closing slightly higher at $61.71. During the trading session, a total of 7,882,461 shares exchanged hands, which represents a significant drop of 59% from its average volume of 19,278,982 shares. The previous day's closing price was $61.87.

Wall Street Analysts Forecast Growth

In recent reports, several equity analysts have offered their insights on Uber Technologies’ stock. Daiwa Capital Markets revised its rating from "outperform" to "neutral" and set a price target of $84.00. In contrast, Oppenheimer increased its price target from $90.00 to $95.00, maintaining an "outperform" rating. Meanwhile, Wells Fargo decreased its target from $97.00 to $90.00 while keeping an "overweight" rating. Cantor Fitzgerald also reaffirmed an "overweight" rating with a target price of $90.00. KeyCorp, however, reduced its price target from $90.00 to $85.00 without changing its "overweight" stance. Overall, the consensus among analysts includes six holds, thirty-two buy ratings, and one strong buy rating, leading to a general consensus rating of "Moderate Buy" with a target price of $90.51.

Uber Technologies Stock Down 0.3%

Financial indicators for Uber show a debt-to-equity ratio of 0.70, a quick ratio of 1.41, and a current ratio of 1.41. The fifty-day moving average sits at $70.86, while the two-hundred-day moving average is at $71.18. The market capitalization of Uber Technologies stands at $129.94 billion, with a price-to-earnings ratio of 30.70 and a price-to-earnings-growth ratio of 0.75. The company's beta is 1.33, suggesting it is somewhat more volatile than the market.

In terms of its financial performance, Uber Technologies recently reported its quarterly earnings on October 31st. The company achieved an earnings per share (EPS) of $1.20, significantly exceeding the analysts' expectations of $0.41 by $0.79. Uber's net margin is reported to be at 10.49%, with a return on equity of 33.46%. The revenue for the quarter reached $11.19 billion, which surpassed analysts' forecasts of $10.99 billion, indicating a 20.4% year-over-year growth from the same quarter last year.

Insider Activity at Uber Technologies

In insider trading news, Jill Hazelbaker, an insider at Uber Technologies, sold 27,780 shares of the company's stock on November 25th at an average price of $72.90, totaling a transaction of approximately $2,025,162. Following this sale, she holds about 107,289 shares, a decrease of 20.57% in her ownership. Currently, corporate insiders own approximately 3.80% of the total shares.

Hedge Funds Weigh In On Uber Technologies

Recent changes in investment positions by hedge funds reflect growing interest in Uber Technologies. For instance, GHP Investment Advisors boosted its position in Uber by 222.7% during the second quarter, now owning 355 shares valued at around $26,000. WR Wealth Planners significantly increased their position by 563.9%, owning 405 shares valued at $29,000. Other firms, such as MCF Advisors and Fairfield Financial Advisors, also raised their stakes in the company. Overall, 80.24% of the stock is currently held by hedge funds and other institutional investors.

About Uber Technologies

Uber Technologies, Inc. is a prominent player in the technology sector, developing and operating various applications across regions including the United States, Canada, Latin America, Europe, the Middle East, Africa, and parts of Asia. It operates through three main segments: Mobility, Delivery, and Freight, connecting consumers to transportation options, including ridesharing, carsharing, and public transit, alongside offering financial products and advertising services.

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