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

Uber Technologies (NYSE:UBER) was downgraded by investment analysts at Daiwa America from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday, Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price objective on shares of Uber Technologies in a report on Monday, October 7th. TD Cowen boosted their price objective on Uber Technologies from $88.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. JMP Securities boosted their price objective on Uber Technologies from $75.00 to $80.00 and gave the company a “market outperform” rating in a report on Wednesday, August 7th. Citigroup boosted their price objective on Uber Technologies from $96.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Oppenheimer lifted their price target on Uber Technologies from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Six equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.51.

Uber Technologies Stock Performance

Shares of UBER opened at $79.16 on Thursday. The stock has a 50-day moving average of $74.30 and a two-hundred day moving average of $70.72. Uber Technologies has a one year low of $40.09 and a one year high of $87.00. 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 stock has a market cap of $165.41 billion, a P/E ratio of 127.68, a P/E/G 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 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $10.57 billion. During the same quarter in the previous year, the firm posted $0.18 EPS. The firm’s revenue was up 15.9% compared to the same quarter last year. As a group, research analysts predict that Uber Technologies will post 1.08 EPS for the current year.

Insider Activity at Uber Technologies

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 value of $2,880,000.00. Following the transaction, the insider now directly owns 127,352 shares in the company, valued at approximately $9,169,344. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in UBER. Price T Rowe Associates Inc. MD lifted its holdings in 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 valued at $2,804,437,000 after acquiring an additional 9,996,508 shares during the last quarter. GQG Partners LLC lifted its stake in Uber Technologies by 74.1% during 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 in the last quarter. Allen Investment Management LLC lifted its stake in Uber Technologies by 2,956.5% during the first quarter. Allen Investment Management LLC now owns 5,338,291 shares of the ride-sharing company’s stock worth $410,995,000 after purchasing an additional 5,163,635 shares in the last quarter. Vanguard Group Inc. lifted its stake in Uber Technologies by 2.2% during 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 in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Uber Technologies by 36.5% during the second quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company’s stock worth $864,390,000 after purchasing an additional 3,179,308 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

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.