Guggenheim Upgrades Uber Technologies (NYSE:UBER) to “Strong-Buy”

Uber Technologies (NYSE:UBER) was upgraded by equities research analysts at Guggenheim to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Several other equities research analysts have also recently commented on UBER. Wall Street Zen cut Uber Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. KeyCorp boosted their target price on shares of Uber Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. Canaccord Genuity Group restated a “hold” rating and set a $84.00 price target (down previously from $90.00) on shares of Uber Technologies in a research note on Friday, June 27th. UBS Group raised their price target on shares of Uber Technologies from $115.00 to $117.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Finally, Mizuho began coverage on shares of Uber Technologies in a report on Monday, September 29th. They issued an “outperform” rating and a $130.00 price objective for the company. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.68.

Uber Technologies Trading Down 2.2%

NYSE UBER opened at $92.47 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. Uber Technologies has a 1-year low of $59.33 and a 1-year high of $101.99. The firm’s fifty day simple moving average is $95.17 and its 200-day simple moving average is $88.37. The company has a market capitalization of $192.84 billion, a PE ratio of 15.75 and a beta of 1.48.

Uber Technologies (NYSE:UBER) last issued its earnings results 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. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The firm had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $12.45 billion. During the same quarter in the previous year, the company posted $0.47 earnings per share. The business’s quarterly 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 fiscal year.

Insider Transactions at Uber Technologies

In other news, CEO Dara Khosrowshahi sold 300,000 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $95.37, for a total value of $28,611,000.00. Following the sale, the chief executive officer directly owned 1,132,544 shares of the company’s stock, valued at approximately $108,010,721.28. This trade represents a 20.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total value of $273,405.00. Following the completion of the transaction, the chief financial officer owned 22,528 shares in the company, valued at $2,239,733.76. The trade was a 10.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 601,821 shares of company stock worth $58,659,491. Corporate insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kilter Group LLC bought a new stake in shares of Uber Technologies in the second quarter valued at approximately $26,000. Vision Financial Markets LLC acquired a new position in Uber Technologies during the 1st quarter valued at $27,000. West Oak Capital LLC bought a new stake in Uber Technologies in the 2nd quarter valued at $28,000. Truvestments Capital LLC boosted its holdings in Uber Technologies by 498.5% in the 1st quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company’s stock valued at $30,000 after purchasing an additional 339 shares during the period. Finally, Trust Co. of Toledo NA OH acquired a new stake in Uber Technologies in the 2nd quarter worth $30,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Company Profile

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.