Uber Technologies (NYSE:UBER) Rating Increased to Strong-Buy at Mizuho

Key Points

• Mizuho has upgraded Uber Technologies to a "strong-buy" rating, indicating increased confidence in the company's performance and potential for growth.
• Uber's quarterly earnings exceeded expectations, reporting $0.63 earnings per share against a forecast of $0.61, coupled with a revenue increase of 18.2% year-over-year.
• Despite the upgrade, Uber's stock is currently down 1.6% and has a moderate investment rating with an average target price of $104.09 from analysts.

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

Several other equities research analysts have also recently weighed in on UBER. Wedbush cut their price objective on shares of Uber Technologies from $85.00 to $84.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. BMO Capital Markets upped their price objective on shares of Uber Technologies from $101.00 to $113.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Sanford C. Bernstein upped their price objective on shares of Uber Technologies from $95.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Wells Fargo & Company upped their price objective on shares of Uber Technologies from $119.00 to $127.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Finally, Canaccord Genuity Group reaffirmed a "hold" rating and set a $84.00 price objective (down previously from $90.00) on shares of Uber Technologies in a research report on Friday, June 27th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $104.09.

Uber Technologies Trading Down 1.6%

UBER stock opened at $97.94 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. The company's 50-day simple moving average is $93.58 and its 200 day simple moving average is $86.64. Uber Technologies has a 52 week low of $59.33 and a 52 week high of $101.99. The company has a market capitalization of $204.25 billion, a PE ratio of 16.68 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The business had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $12.45 billion. During the same quarter in the prior year, the business posted $0.47 earnings per share. Uber Technologies's revenue was up 18.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Uber Technologies will post 2.54 earnings per share for the current year.

Insider Transactions at Uber Technologies

In other news, insider Tony West sold 100,000 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $100.38, for a total value of $10,038,000.00. Following the completion of the transaction, the insider owned 171,558 shares of the company's stock, valued at approximately $17,220,992.04. This represents a 36.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the completion of the transaction, the senior vice president directly owned 416,222 shares of the company's stock, valued at $38,184,206.28. This trade represents a 2.70% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 604,571 shares of company stock valued at $58,920,741. 3.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Uber Technologies

Hedge funds have recently added to or reduced their stakes in the business. Rydar Equities Inc. bought a new stake in Uber Technologies during the 2nd quarter worth approximately $1,160,000. Momentum Wealth Planning LLC bought a new stake in Uber Technologies during the 2nd quarter worth approximately $544,000. Silicon Valley Capital Partners grew its holdings in Uber Technologies by 2.5% during the 2nd quarter. Silicon Valley Capital Partners now owns 16,999 shares of the ride-sharing company's stock worth $1,586,000 after acquiring an additional 407 shares during the last quarter. Reynders McVeigh Capital Management LLC grew its holdings in Uber Technologies by 2.8% during the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 222,302 shares of the ride-sharing company's stock worth $20,741,000 after acquiring an additional 6,130 shares during the last quarter. Finally, American Trust bought a new stake in Uber Technologies during the 2nd quarter worth approximately $231,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

About Uber Technologies

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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