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UBER

Uber

$27.01

-0.33 (-1.21%)

10:22
11/09/19
11/09
10:22
11/09/19
10:22

Uber's huge losses testing investor patience, Barron's says

Earlier this week, Uber (UBER) reported better-than-expected Q3 sales and EBITDA, but still fell 10% due to a quarterly net loss of $1.2B, Barron's Tae Kim wrote, adding that this earnings came just ahead of Uber's IPO lockup period expiration, which allows insiders to sell their stock in the company. The market wants more discipline from Uber, but Uber is hoping for more patience, as it targets 2021 for break-even. Kim suggested that Uber's "heavy investment mode with excessive promotions needs to stop. The company should focus on its core ride-hailing business, either spinning out, divesting, or shutting down its money-losing e-bike, e-scooter, and autonomous-driving bets." He added that Uber Eats is only EBITDA positive in 100 of 500 cities where it operates, and "should just shut down those money-losing areas today." Kim concluded that "by putting the focus on its solid core business, Uber can turn around its plunging stock price." Reference Link

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    Nov

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    Dec

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    Nov

  • 07

    Nov

UBER Uber
$27.01

-0.33 (-1.21%)

11/05/19
OPCO
11/05/19
NO CHANGE
Target $45
OPCO
Outperform
Uber price target lowered to $45 from $55 at Oppenheimer
Oppenheimer analyst Jason Helfstein lowered his price target for Uber to $45 from $55, citing a decline in peer multiples and a more competitive food delivery environment, but maintains an Outperform rating as Rides economics are improving and management expects EBITDA break-even in 2021 vs. his prior 2022 assumption.
11/05/19
MSCO
11/05/19
NO CHANGE
Target $55
MSCO
Overweight
After Uber earnings, Morgan Stanley sees four reasons to be bullish in 2020
After Uber reported Q3 results and gave new segment disclosures, Morgan Stanley analyst Brian Nowak highlighted four reasons he sees to be bullish. Namely, the company is targeting being breakeven for 2021, which is a year earlier than expected; Rides segment bookings and adjusted net revenue were 1% and 5%, respectively, better than expected; ...Eats segment bookings were 4% lighter than he expected, but its adjusted EBITDA losses were 10% below what he forecast; and messaging about the future of online food delivery industry was "more rational," according to Nowak. Following the quarterly report, Nowak raised his 20/21 EBITDA estimates, increased his price target on Uber shares to $55 from $53 and suggested the shares be bought on weakness through the upcoming lock-up period. Nowak keeps an Overweight rating on Uber shares.
11/05/19
DADA
11/05/19
NO CHANGE
Target $35
DADA
Neutral
Uber price target lowered to $35 from $44 at DA Davidson
DA Davidson analyst Tom White lowered his price target on Uber to $35 and kept his Neutral rating after its Q3 results. The analyst says the quarter was "solid but somewhat mixed", with Gross Bookings, monthly active platform consumers, and trips all a bit light of consensus and revenue/EBITDA loss metrics "generally better". White boosts his 2020 EBITDA estimate by $1.29B to ($1.17B), but lowers his assumed enterprise value to expected 2020 sales multiple to 3.3-times from 4.1-times.
11/07/19
BOFA
11/07/19
NO CHANGE
Target $44
BOFA
Buy
Uber trading at discount to peers amid lock-up pressure, says BofA/Merrill
BofA Merrill Lynch analyst Justin Post noted that 134M shares of Uber stock traded yesterday, which compares to average daily volume of about 12M shares since its IPO and represents around 9% of the 1.4B shares unlocked by the expiration of the IPO lock-up provisions. The stock's roughly 4% decline was consistent with the recent basket of Internet IPOs he compares it to, which declined 2.3% on average on the day of lock-up expiration, Post added. He thinks lock-up related selling will likely remain a headwind in November, but he also notes that the company's current adjusted market cap of $30.4B implies a valuation discount to GrubHub (GRUB) and Lyft (LYFT). The analyst, who sees support coming from new segment disclosures and sum-of-the-parts valuation despite the lock-up overhang, keeps a Buy rating on Uber shares with a $44 price target.

TODAY'S FREE FLY STORIES

GCP

GCP Applied Technologies

$22.04

-0.37 (-1.65%)

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DUK

Duke Energy

$88.63

0.05 (0.06%)

16:45
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Duke Energy files to sell 25M shares of common stock »

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PANW

Palo Alto Networks

$248.50

1.465 (0.59%)

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  • 25

    Nov

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    Dec

TUFN

Tufin

$17.32

-0.22 (-1.25%)

16:44
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Initiation
Tufin initiated  »

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I

Intelsat

16:43
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11/18
16:43
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16:43
Downgrade
Intelsat rating change  »

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  • 10

    Dec

CRWD

Crowdstrike

$57.06

-2.73 (-4.57%)

16:43
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Initiation
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  • 05

    Dec

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    Dec

FBHS

Fortune Brands

$63.57

0.53 (0.84%)

16:43
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16:43
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Fortune Brands CEO sells 97.4K shares of common stock »

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SPLK

Splunk

$122.75

3.6 (3.02%)

16:42
11/18/19
11/18
16:42
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16:42
Initiation
Splunk initiated  »

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  • 21

    Nov

ZS

Zscaler

$44.46

-1.37 (-2.99%)

16:41
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Initiation
Zscaler initiated  »

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  • 03

    Dec

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    Dec

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    Dec

CAAP

Corporacion America Airport

$3.78

0.02 (0.53%)

16:41
11/18/19
11/18
16:41
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16:41
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Corporacion America Airport reports October passenger traffic flat y/y »

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  • 22

    Nov

OKTA

Okta

$121.19

3.74 (3.18%)

16:41
11/18/19
11/18
16:41
11/18/19
16:41
Upgrade
Okta rating change  »

Okta upgraded to Buy from…

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  • 05

    Dec

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    Dec

DG

Dollar General

$160.01

-0.13 (-0.08%)

16:39
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Dollar General to pay $6M to settle discrimination lawsuit brought by EEOC »

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  • 05

    Dec

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    Dec

I

Intelsat

$7.98

-5.42 (-40.45%)

16:38
11/18/19
11/18
16:38
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16:38
Recommendations
Intelsat analyst commentary  »

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  • 10

    Dec

GPC

Genuine Parts

$105.38

0.57 (0.54%)

, HDS

HD Supply

$40.24

-0.5 (-1.23%)

16:38
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Genuine Parts elects William Stengel chief transformation officer »

Genuine Parts (GPC)…

GPC

Genuine Parts

$105.38

0.57 (0.54%)

HDS

HD Supply

$40.24

-0.5 (-1.23%)

03/08/13
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  • 09

    Dec

MET

MetLife

$49.12

-0.14 (-0.28%)

16:37
11/18/19
11/18
16:37
11/18/19
16:37
Syndicate
Breaking Syndicate news story on MetLife »

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  • 12

    Dec

ASH

Ashland

$78.65

0.03 (0.04%)

16:36
11/18/19
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16:36
Hot Stocks
Ashland CEO says 'faced more challenging external conditions than anticipated' »

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  • 19

    Nov

ASH

Ashland

$78.65

0.03 (0.04%)

16:35
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Earnings
Ashland reports preliminary Q4 adjusted cont ops EPS 77c, consensus 95c »

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  • 19

    Nov

VNET

21Vianet

$8.27

0.22 (2.73%)

16:34
11/18/19
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16:34
Earnings
21Vianet lowers FY19 revenue growth view to 11.2% from 12% at midpoint »

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  • 18

    Nov

SAEX

SAExploration

$1.53

-0.03 (-1.92%)

, GEOS

Geospace

$13.77

0.31 (2.30%)

16:33
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Geospace receives $12.5M order from SAExploration »

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$1.53

-0.03 (-1.92%)

GEOS

Geospace

$13.77

0.31 (2.30%)

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  • 22

    Nov

VNET

21Vianet

$8.27

0.22 (2.73%)

16:33
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16:33
Earnings
21Vianet reports Q3 EPS (1c), one estimate (3c) »

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  • 18

    Nov

C

Citi

$74.40

0.02 (0.03%)

, ADS

Alliance Data

$104.71

1.31 (1.27%)

16:31
11/18/19
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16:31
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16:31
Hot Stocks
Alliance Data names Ralph Andretta president and CEO »

Alliance Data Systems…

C

Citi

$74.40

0.02 (0.03%)

ADS

Alliance Data

$104.71

1.31 (1.27%)

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  • 14

    Jan

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Options
Preliminary option volume of 18.6M today »

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AGO

Assured Guaranty

$48.76

0.45 (0.93%)

16:28
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Assured Guaranty CIO acquires roughly 25,000 common shares »

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MDU

MDU Resources

$29.10

0.08 (0.28%)

16:28
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MDU Resources announces five-year capital investment plan totaling $2.9B »

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PFGC

Performance Food Group

$46.17

(0.00%)

16:28
11/18/19
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Syndicate
Performance Food Group offers to sell 9.2M shares of common stock »

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