Uber Technologies (NYSE:UBER) Upgraded at Mizuho

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

Several other research firms have also commented on UBER. Royal Bank Of Canada increased their target price on Uber Technologies from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Piper Sandler increased their price objective on Uber Technologies from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Wall Street Zen downgraded Uber Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Morgan Stanley reiterated an “overweight” rating and issued a $115.00 price target (up from $95.00) on shares of Uber Technologies in a research note on Monday, July 21st. Finally, Wells Fargo & Company increased their price target on shares of Uber Technologies from $119.00 to $127.00 and gave the company an “overweight” rating in a research note on Friday, September 5th. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, Uber Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $104.09.

Uber Technologies Trading Down 1.6%

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

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

Insider Activity

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $99.42, for a total transaction of $273,405.00. Following the transaction, the chief financial officer directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jill Hazelbaker sold 31,250 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the transaction, the insider owned 86,531 shares in the company, valued at approximately $8,343,319.02. This trade represents a 26.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 604,571 shares of company stock worth $58,920,741 over the last ninety days. 3.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of UBER. Vanguard Group Inc. grew its holdings in shares of Uber Technologies by 1.6% during the second 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 last quarter. Geode Capital Management LLC grew its stake in shares of Uber Technologies by 2.6% in the 2nd quarter. Geode Capital Management LLC now owns 45,859,136 shares of the ride-sharing company’s stock valued at $4,258,756,000 after purchasing an additional 1,168,288 shares during the last quarter. Pershing Square Capital Management L.P. purchased a new position in shares of Uber Technologies in the 1st quarter valued at approximately $2,207,743,000. Norges Bank purchased a new position in shares of Uber Technologies in the 2nd quarter valued at approximately $2,348,319,000. Finally, Kingstone Capital Partners Texas LLC grew its position in Uber Technologies by 334,075.7% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock valued at $1,863,545,000 after buying an additional 19,967,705 shares during the last quarter. 80.24% of the stock is 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.