Uber Technologies (NYSE:UBER) Stock Breaks Above Fifty Day Moving Average – Here’s What Happened

Uber Technologies, Inc. (NYSE:UBER)’s stock price crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $69.98 and traded as high as $71.26. Uber Technologies shares last traded at $71.1260, with a volume of 19,135,798 shares trading hands.

Uber Technologies News Summary

Here’s some of the latest news about UBER:

• Positive Sentiment: Uber expanded its multiyear McDonald’s delivery and loyalty partnership across 14 markets. Uber will be the preferred integrated delivery provider for orders placed through McDonald’s app in key markets, with loyalty rewards linked between the companies—potentially encouraging more orders and customer engagement. McDonald’s Expands Uber Partnership in 14 Markets
• Positive Sentiment: Uber also partnered with Amazon to provide eligible Prime members free restaurant delivery, which could broaden Uber Eats’ reach and help attract customers. Uber Joins with Amazon on Food Delivery
• Neutral Sentiment: Robotaxis remain a longer-term opportunity and competitive question. Rivian’s CEO discussed the company’s robotaxi work with Uber, while a separate commentary floated a possible Alphabet acquisition of Uber to combine Waymo with Uber’s network. The acquisition idea is speculation, not a reported deal. Rivian CEO Talks Robotaxis Google Could Buy Uber to Win the Robotaxi Wars

Analyst Upgrades and Downgrades

UBER has been the subject of a number of research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 target price on shares of Uber Technologies in a research note on Thursday, November 5th. Gordon Haskett lifted their price target on shares of Uber Technologies from $113.00 to $118.00 in a research note on Thursday, September 10th. BNP Paribas Exane reduced their price target on shares of Uber Technologies from $108.00 to $106.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Jefferies Financial Group increased their price objective on shares of Uber Technologies from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, Susquehanna lowered their price objective on shares of Uber Technologies from $110.00 to $90.00 and set a “positive” rating for the company in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.08.

Uber Technologies Stock Up 1.0%

The company has a debt-to-equity ratio of 0.55, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market capitalization of $144.52 billion, a price-to-earnings ratio of 24.58, a PEG ratio of 2.60 and a beta of 1.33. The firm has a 50-day moving average price of $69.78 and a two-hundred day moving average price of $72.84.

Uber Technologies (NYSE:UBER) last announced its earnings results on Wednesday, November 4th. The ride-sharing company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. Uber Technologies had a return on equity of 21.37% and a net margin of 6.13%. The business had revenue of $14.77 billion for the quarter, compared to analyst estimates of $14.66 billion. During the same quarter last year, the firm earned $3.11 EPS. Uber Technologies’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Uber Technologies, Inc. will post 3.27 earnings per share for the current fiscal year.

Insider Activity

In other Uber Technologies news, CEO Dara Khosrowshahi acquired 141,000 shares of the stock in a transaction dated Thursday, September 10th. The shares were bought at an average cost of $70.96 per share, for a total transaction of $10,005,360.00. Following the completion of the acquisition, the chief executive officer directly owned 1,367,100 shares of the company’s stock, valued at approximately $97,009,416. This trade represents a 11.50% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jill Hazelbaker sold 28,170 shares of the business’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $71.31, for a total transaction of $2,008,802.70. Following the completion of the sale, the insider directly owned 149,525 shares in the company, valued at approximately $10,662,627.75. This represents a 15.85% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Uber Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in UBER. Public Investment Fund bought a new position in shares of Uber Technologies in the 2nd quarter valued at about $5,256,173,439. Legal & General Group Plc bought a new stake in Uber Technologies during the second quarter worth about $943,167,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Uber Technologies during the second quarter worth about $752,151,000. Baird Financial Group Inc. boosted its position in Uber Technologies by 64.4% during the second quarter. Baird Financial Group Inc. now owns 9,099,343 shares of the ride-sharing company’s stock valued at $656,609,000 after purchasing an additional 3,564,073 shares during the last quarter. Finally, Fundsmith LLP acquired a new position in Uber Technologies during the second quarter valued at approximately $645,338,000. 80.24% of the stock is owned by institutional investors.

About Uber Technologies

Uber Technologies, Inc. operates a technology platform that connects people seeking transportation and delivery services with drivers, couriers, merchants and other providers. Its offerings include rides through the Uber app and food and grocery delivery through Uber Eats. The company also provides logistics services through Uber Freight, which connects shippers with carriers and offers tools for managing freight transportation. Uber’s platform serves users and businesses across markets in North America, Latin America, Europe, the Middle East, Africa and Asia-Pacific.