Uber Technologies (NYSE:UBER) Raised to "Strong-Buy" at Scotiabank

Key Points

• Scotiabank upgraded Uber Technologies to “strong buy,” adding to broadly positive analyst sentiment. The stock has a consensus “moderate buy” rating and an average price target of $103.03.
• Uber shares opened at $71.11 and were reported down 2.8%, while the company’s latest quarterly results slightly exceeded earnings expectations with $0.81 EPS and $14.19 billion in revenue.
• President and COO Andrew Macdonald purchased 70,000 shares for approximately $5.3 million, increasing his ownership by nearly 20%; institutional investors own about 80.24% of the company.

Uber Technologies (NYSE:UBER - Get Free Report) was upgraded by stock analysts at Scotiabank to a "strong-buy" rating in a research report issued to clients and investors on Wednesday, Zacks reports.

Several other research analysts have also recently weighed in on UBER. BTIG Research reissued a "buy" rating and set a $100.00 price objective on shares of Uber Technologies in a report on Thursday, September 3rd. Piper Sandler restated an "overweight" rating on shares of Uber Technologies in a report on Thursday, August 13th. BMO Capital Markets set a $119.00 target price on shares of Uber Technologies in a research report on Thursday, September 3rd. Cantor Fitzgerald decreased their target price on shares of Uber Technologies from $98.00 to $90.00 and set an "overweight" rating for the company in a research note on Thursday, August 6th. Finally, Bank of America lowered their price target on Uber Technologies from $104.00 to $103.00 and set a "buy" rating on the stock in a report on Tuesday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $103.03.

Uber Technologies Trading Down 2.8%

Uber Technologies stock opened at $71.11 on Wednesday. Uber Technologies has a one year low of $65.41 and a one year high of $101.99. The business's fifty day moving average is $74.04 and its 200 day moving average is $73.62. The stock has a market capitalization of $145.24 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 5.79 and a beta of 1.16. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.84 and a quick ratio of 0.84.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its earnings results on Wednesday, August 5th. The ride-sharing company reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.01. The business had revenue of $14.19 billion during the quarter, compared to analyst estimates of $14.24 billion. Uber Technologies had a return on equity of 43.36% and a net margin of 17.34%.Uber Technologies's revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 EPS. Uber Technologies has set its Q3 2026 guidance at 0.840-0.880 EPS. On average, sell-side analysts predict that Uber Technologies will post 3.45 EPS for the current year.

Insider Buying and Selling

In other Uber Technologies news, insider Andrew Macdonald purchased 70,000 shares of the firm's stock in a transaction on Friday, September 4th. The shares were acquired at an average cost of $75.83 per share, for a total transaction of $5,308,100.00. Following the completion of the transaction, the insider owned 426,320 shares of the company's stock, valued at approximately $32,327,845.60. The trade was a 19.65% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.81% of the company's stock.

Institutional Investors Weigh In On Uber Technologies

A number of hedge funds have recently modified their holdings of UBER. California State Teachers Retirement System lifted its position in Uber Technologies by 6,342.7% during the second quarter. California State Teachers Retirement System now owns 199,496,278 shares of the ride-sharing company's stock valued at $14,395,651,000 after purchasing an additional 196,399,787 shares in the last quarter. Capital Research Global Investors increased its position in Uber Technologies by 2.6% in the fourth quarter. Capital Research Global Investors now owns 113,456,376 shares of the ride-sharing company's stock worth $9,270,561,000 after buying an additional 2,903,021 shares in the last quarter. Public Investment Fund bought a new position in shares of Uber Technologies in the second quarter worth about $5,256,173,439. Geode Capital Management LLC raised its stake in shares of Uber Technologies by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 47,936,203 shares of the ride-sharing company's stock worth $3,906,083,000 after buying an additional 1,602,596 shares during the period. Finally, Norges Bank purchased a new position in shares of Uber Technologies during the 4th quarter valued at about $2,515,094,000. Institutional investors own 80.24% of the company's stock.

Key Stories Impacting Uber Technologies

Here are the key news stories impacting Uber Technologies this week:

• Positive Sentiment: Uber, WeRide and AVOMO received Spain’s first national permit for Level 4 autonomous passenger vehicles to operate on public roads. The initial Madrid deployment will include 20 vehicles, with commercial operations targeted by the end of 2026. The approval strengthens Uber’s asset-light robotaxi strategy by combining its customer platform with partners’ autonomous-driving technology and fleet operations. Spain autonomous vehicle permit article
• Positive Sentiment: Wedbush reaffirmed its “outperform” rating and $91 price target, implying substantial upside from the current trading level. The bullish view reflects confidence in Uber’s earnings growth, free-cash-flow generation and long-term autonomous-mobility opportunity. Wedbush Uber rating article
• Positive Sentiment: Uber Eats expanded its grocery network through a partnership with Wakefern, adding access to more than 375 ShopRite, Fairway Market and other supermarket locations across the U.S. Northeast. The deal broadens delivery selection and could support order growth and advertising opportunities. Uber Eats Wakefern partnership article
• Positive Sentiment: President and COO Andrew Macdonald purchased 70,000 shares for approximately $5.3 million, increasing his direct ownership by nearly 20%. The sizeable insider purchase may signal that management views the recent weakness as an attractive entry point. Uber insider purchase article
• Neutral Sentiment: Uber raised approximately €4.5 billion through its debut five-part euro bond offering. The financing provides capital for autonomous-vehicle investments and other corporate needs, but increases debt and interest expenses while investors assess the returns from the planned multiyear robotaxi spending program. Uber euro bond offering article
• Negative Sentiment: Tesla’s Cybercab commercial launch has intensified fears that Tesla could compete directly for autonomous ride demand and capture economics that Uber currently expects to access through its platform. The competitive threat helped pressure Uber shares despite improving profitability and free cash flow. Tesla Cybercab threat article

About Uber Technologies

Uber Technologies, Inc is a technology company that operates a global platform connecting consumers with drivers, couriers, merchants and transportation providers. The company's core mobility business enables users to request rides through the Uber app, including options such as private rides, taxis and other forms of local transportation.

Uber also operates Uber Eats, a delivery marketplace that connects consumers with restaurants, grocery stores and other retailers. In addition, the company provides logistics services through Uber Freight, which connects carriers and shippers, and offers advertising solutions to businesses seeking to reach users on its platform.

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