Daiwa America Lowers Uber Technologies (NYSE:UBER) to Hold

Daiwa America cut shares of Uber Technologies (NYSE:UBER) from a strong-buy rating to a hold rating in a report released on Thursday morning, Zacks.com reports.

Several other equities analysts have also issued reports on UBER. Piper Sandler lifted their price target on Uber Technologies from $86.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday, June 25th. Melius Research initiated coverage on Uber Technologies in a research report on Monday, July 22nd. They set a “hold” rating and a $77.00 price objective on the stock. BMO Capital Markets restated an “outperform” rating and set a $92.00 price objective on shares of Uber Technologies in a research report on Friday, October 11th. Raymond James initiated coverage on Uber Technologies in a research report on Tuesday, September 24th. They set a “strong-buy” rating and a $90.00 price objective on the stock. Finally, Roth Mkm boosted their price objective on Uber Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.51.

Uber Technologies Trading Down 0.9 %

Shares of UBER opened at $79.16 on Thursday. Uber Technologies has a 52-week low of $40.09 and a 52-week high of $87.00. The business’s fifty day moving average is $74.30 and its 200-day moving average is $70.67. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a market cap of $165.41 billion, a price-to-earnings ratio of 127.68, a PEG ratio of 1.47 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.16. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The company had revenue of $10.70 billion for the quarter, compared to analyst estimates of $10.57 billion. During the same quarter last year, the company posted $0.18 EPS. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. Equities analysts anticipate that Uber Technologies will post 1.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jill Hazelbaker sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the transaction, the insider now directly owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.84% of the stock is owned by company insiders.

Institutional Trading of Uber Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Uber Technologies by 2.2% in the first quarter. Vanguard Group Inc. now owns 171,253,318 shares of the ride-sharing company’s stock worth $13,184,793,000 after purchasing an additional 3,623,951 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Uber Technologies by 8.2% in the first quarter. Capital Research Global Investors now owns 39,947,547 shares of the ride-sharing company’s stock worth $3,075,562,000 after purchasing an additional 3,019,431 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Uber Technologies by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock worth $2,804,437,000 after purchasing an additional 9,996,508 shares during the last quarter. GQG Partners LLC raised its stake in shares of Uber Technologies by 74.1% in the first quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock worth $1,726,381,000 after purchasing an additional 9,541,366 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Uber Technologies by 1.6% in the second quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock worth $1,107,529,000 after purchasing an additional 237,976 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.