Uber Technologies (NYSE:UBER) Stock Rating Lowered by Erste Group Bank

Uber Technologies (NYSE:UBER - Get Free Report) was downgraded by research analysts at Erste Group Bank from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Friday,Finviz reports.

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Several other research analysts have also commented on the stock. UBS Group set a $122.00 price objective on shares of Uber Technologies and gave the company a "buy" rating in a research note on Wednesday, November 5th. Arete upgraded Uber Technologies from a "neutral" rating to a "buy" rating and set a $125.00 price objective on the stock in a research note on Wednesday. BTIG Research reissued a "buy" rating and set a $100.00 target price on shares of Uber Technologies in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Uber Technologies in a research report on Monday. Finally, Piper Sandler set a $107.00 target price on shares of Uber Technologies in a research note on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, Uber Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $109.19.

Read Our Latest Research Report on UBER

Uber Technologies Trading Up 1.2%

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UBER stock traded up $1.08 during trading on Friday, reaching $92.07. 1,435,195 shares of the stock were exchanged, compared to its average volume of 20,515,070. The business has a 50 day moving average price of $92.94 and a 200-day moving average price of $91.82. The firm has a market capitalization of $191.31 billion, a price-to-earnings ratio of 11.82 and a beta of 1.19. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37. Uber Technologies has a 1 year low of $59.33 and a 1 year high of $101.99.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $2.44. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.The company had revenue of $13.47 billion for the quarter, compared to the consensus estimate of $13.25 billion. During the same quarter in the previous year, the business earned $1.20 earnings per share. The company's revenue for the quarter was up 20.4% on a year-over-year basis. On average, research analysts predict that Uber Technologies will post 2.54 earnings per share for the current year.

Insiders Place Their Bets

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In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 5,500 shares of Uber Technologies stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $94.41, for a total value of $519,255.00. Following the transaction, the chief financial officer directly owned 20,330 shares in the company, valued at approximately $1,919,355.30. This trade represents a 21.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Dara Khosrowshahi sold 300,000 shares of the company's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $95.37, for a total value of $28,611,000.00. Following the sale, the chief executive officer owned 1,132,544 shares of the company's stock, valued at $108,010,721.28. This trade represents a 20.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 567,625 shares of company stock valued at $55,385,660 over the last quarter. Company insiders own 3.84% of the company's stock.

Institutional Investors Weigh In On Uber Technologies

Hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP boosted its stake in shares of Uber Technologies by 18.1% in the third quarter. Allworth Financial LP now owns 32,992 shares of the ride-sharing company's stock valued at $3,232,000 after buying an additional 5,060 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Uber Technologies by 5.1% during the 3rd quarter. IFP Advisors Inc now owns 54,234 shares of the ride-sharing company's stock worth $5,313,000 after purchasing an additional 2,631 shares in the last quarter. Swiss Life Asset Management Ltd boosted its holdings in Uber Technologies by 6.9% during the third quarter. Swiss Life Asset Management Ltd now owns 692,138 shares of the ride-sharing company's stock worth $67,809,000 after buying an additional 44,598 shares in the last quarter. Cantor Fitzgerald L. P. grew its position in Uber Technologies by 10.5% during the third quarter. Cantor Fitzgerald L. P. now owns 58,946 shares of the ride-sharing company's stock worth $5,775,000 after buying an additional 5,582 shares during the period. Finally, Strategic Advocates LLC purchased a new position in Uber Technologies in the third quarter valued at about $142,000. Institutional investors and hedge funds own 80.24% of the company's stock.

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.

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