Uber Technologies (NYSE:UBER) Upgraded by Guggenheim to Strong-Buy Rating

Key Points

• Uber Technologies has been upgraded by Guggenheim to a "strong-buy" rating, reflecting positive sentiment from multiple analysts on the stock's future performance.
• The company reported $0.63 earnings per share for its latest quarter, exceeding analysts' expectations and marking an 18.2% increase in revenue compared to the previous year.
• Insider trading activity has seen significant sales, with over 601,821 shares sold in the past ninety days, highlighting ongoing changes in ownership dynamics.

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

A number of other analysts have also recently issued reports on UBER. Cantor Fitzgerald reissued an "overweight" rating and issued a $106.00 price objective (up from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. Susquehanna increased their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a "positive" rating in a research note on Thursday, August 7th. Stifel Nicolaus increased their price objective on shares of Uber Technologies from $110.00 to $117.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Wall Street Zen cut shares of Uber Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Raymond James Financial raised their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the company a "strong-buy" rating in a research note on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $105.06.

Uber Technologies Stock Performance

Shares of NYSE UBER opened at $94.58 on Wednesday. The firm has a fifty day moving average price of $95.17 and a 200-day moving average price of $88.23. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market cap of $197.24 billion, a PE ratio of 16.11 and a beta of 1.48. 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 announced its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. The firm had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The company's revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.47 earnings per share. Equities analysts anticipate that Uber Technologies will post 2.54 earnings per share for the current fiscal year.

Insider Activity at Uber Technologies

In other news, insider Jill Hazelbaker sold 31,250 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $96.42, for a total value of $3,013,125.00. Following the sale, the insider directly owned 86,531 shares in the company, valued at $8,343,319.02. The trade was a 26.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total transaction of $273,405.00. Following the completion of the sale, the chief financial officer owned 22,528 shares in the company, valued at approximately $2,239,733.76. This trade represents a 10.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 601,821 shares of company stock valued at $58,659,491 in the last ninety days. Corporate insiders own 3.84% of the company's stock.

Institutional Trading of Uber Technologies

Large investors have recently made changes to their positions in the business. Hilltop National Bank bought a new stake in shares of Uber Technologies in the 2nd quarter worth about $96,000. Geneos Wealth Management Inc. increased its holdings in shares of Uber Technologies by 805.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 102,706 shares of the ride-sharing company's stock worth $7,483,000 after buying an additional 91,362 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Uber Technologies by 42.7% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 759,077 shares of the ride-sharing company's stock worth $70,822,000 after purchasing an additional 226,960 shares during the period. Kapstone Financial Advisors LLC purchased a new position in shares of Uber Technologies during the 2nd quarter worth about $415,000. Finally, Annex Advisory Services LLC boosted its stake in shares of Uber Technologies by 35.6% during the 2nd quarter. Annex Advisory Services LLC now owns 552,662 shares of the ride-sharing company's stock worth $51,563,000 after purchasing an additional 145,071 shares during the period. 80.24% of the stock is currently owned by institutional investors.

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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