Uber Technologies (NYSE:UBER) Upgraded by Mizuho to “Strong-Buy” Rating

Mizuho upgraded shares of Uber Technologies (NYSE:UBER) to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

A number of other brokerages also recently commented on UBER. Cowen reaffirmed a “buy” rating on shares of Uber Technologies in a research note on Thursday, August 7th. Barclays reaffirmed an “overweight” rating and set a $110.00 target price (up from $97.00) on shares of Uber Technologies in a research note on Thursday, August 7th. Stifel Nicolaus lifted their price target on shares of Uber Technologies from $110.00 to $117.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $115.00 price target (up previously from $95.00) on shares of Uber Technologies in a research report on Monday, July 21st. Finally, Wedbush reduced their price target on shares of Uber Technologies from $85.00 to $84.00 and set a “neutral” rating on the stock in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, Uber Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $104.09.

Uber Technologies Stock Performance

Shares of Uber Technologies stock opened at $97.94 on Monday. Uber Technologies has a one year low of $59.33 and a one year high of $101.99. The company has a market cap of $204.25 billion, a price-to-earnings ratio of 16.68 and a beta of 1.43. 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 business’s 50 day moving average price is $93.58 and its 200 day moving average price is $86.64.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. During the same quarter in the previous year, the firm earned $0.47 EPS. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. On average, research analysts predict that Uber Technologies will post 2.54 EPS for the current year.

Insider Buying and Selling

In related news, insider Tony West sold 100,000 shares of the business’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $100.38, for a total value of $10,038,000.00. Following the sale, the insider owned 171,558 shares in the company, valued at approximately $17,220,992.04. The trade was a 36.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jill Hazelbaker sold 31,250 shares of the business’s stock in a transaction on 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 completion of the sale, the insider owned 86,531 shares in the company, valued at $8,343,319.02. This represents a 26.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 604,571 shares of company stock valued at $58,920,741 over the last quarter. 3.70% of the stock is owned by corporate insiders.

Institutional Trading of Uber Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Uber Technologies by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 189,551,519 shares of the ride-sharing company’s stock worth $17,685,157,000 after buying an additional 3,025,483 shares during the period. Geode Capital Management LLC increased its position in shares of Uber Technologies by 2.6% during the second quarter. Geode Capital Management LLC now owns 45,859,136 shares of the ride-sharing company’s stock worth $4,258,756,000 after acquiring an additional 1,168,288 shares during the period. Pershing Square Capital Management L.P. purchased a new stake in shares of Uber Technologies during the first quarter worth $2,207,743,000. Norges Bank purchased a new stake in Uber Technologies during the 2nd quarter worth about $2,348,319,000. Finally, Kingstone Capital Partners Texas LLC increased its holdings in Uber Technologies by 334,075.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock worth $1,863,545,000 after purchasing an additional 19,967,705 shares during the period. 80.24% of the stock is currently owned by hedge funds and other 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.