Uber Technologies (NYSE:UBER) Shares Gap Down – Here’s What Happened

Uber Technologies, Inc. (NYSE:UBER)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $79.43, but opened at $74.50. Uber Technologies shares last traded at $73.46, with a volume of 10,039,879 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on UBER shares. Raymond James began coverage on Uber Technologies in a research report on Tuesday, September 24th. They set a “strong-buy” rating and a $90.00 target price for the company. Oppenheimer boosted their target price on shares of Uber Technologies from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. The Goldman Sachs Group raised their price target on shares of Uber Technologies from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Daiwa Capital Markets downgraded Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 target price for the company. in a research report on Thursday, October 17th. Finally, TD Cowen upped their price target on Uber Technologies from $88.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Uber Technologies has an average rating of “Moderate Buy” and a consensus price target of $88.86.

Uber Technologies Stock Down 11.8 %

The company has a market cap of $147.15 billion, a P/E ratio of 80.73, a P/E/G ratio of 1.33 and a beta of 1.33. The stock has a 50-day moving average of $75.40 and a two-hundred day moving average of $70.87. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.21 and a current ratio of 1.21.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. The company had revenue of $10.70 billion during the quarter, compared to analysts’ expectations of $10.57 billion. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The firm’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 EPS. On average, research analysts anticipate that Uber Technologies, Inc. will post 1.1 EPS for the current fiscal year.

Insider Activity

In other news, insider Jill Hazelbaker sold 40,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the completion of the sale, the insider now owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Uber Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Aptus Capital Advisors LLC increased its holdings in Uber Technologies by 17.1% during the 2nd quarter. Aptus Capital Advisors LLC now owns 9,468 shares of the ride-sharing company’s stock valued at $688,000 after purchasing an additional 1,383 shares during the period. Lederer & Associates Investment Counsel CA purchased a new position in shares of Uber Technologies during the third quarter valued at approximately $799,000. Samlyn Capital LLC bought a new position in shares of Uber Technologies during the second quarter valued at approximately $134,987,000. Brookstone Capital Management lifted its stake in Uber Technologies by 19.0% in the second quarter. Brookstone Capital Management now owns 161,494 shares of the ride-sharing company’s stock worth $11,082,000 after acquiring an additional 25,814 shares during the period. Finally, Hedeker Wealth LLC bought a new stake in Uber Technologies in the third quarter valued at $6,519,000. 80.24% of the stock is owned by institutional investors.

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.