Uber Technologies (UBER): Strong Operational Growth Offset by Soft Guidance Soumya Eswaran Thu, October 8, 2026 at 10:10 AM EDT 2 min read UBER +0.69% ^GSPC -0.15% Trade UBER on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Suncoast Equity Management, an SEC-registered Investment Advisory (RIA), released its Q3 2026 investor letter for "U.S. Equity Large Cap Select Growth Strategy." The letter can be downloaded here. The strategy advanced 4.2% after fees in Q3, compared to 2.3% for the S&P 500, marking a potential shift in market leadership. Despite lagging the S&P 500 over the last four quarters ending June 30, 2026, the gap between portfolio EPS growth and returns is narrowing. Select Growth has risen 14.5% after fees since March, suggesting a promising investment opportunity, especially if severe macro conditions do not arise. Also, check the strategy's top five holdings to see its best picks in 2026.
In its Q3 2026 investor letter, SEM U.S. Equity Large Cap Select Growth Strategy noted that it exited its holdings in Uber Technologies, Inc. (NYSE:UBER). Uber Technologies, Inc. (NYSE:UBER) is a multinational technology company that offers ridesharing, food delivery, freight, and other services. On October 07, 2026, Uber Technologies, Inc. (NYSE:UBER) closed at $68.45 per share, reflecting a market capitalization of $139.81 billion. Over the past month, Uber Technologies, Inc. (NYSE:UBER) declined 4.81%, while its shares lost 28.28% over the past 52 weeks.
SEM U.S. Equity Large Cap Select Growth Strategy stated the following regarding Uber Technologies, Inc. (NYSE:UBER) in its Q3 2026 investor letter:
"We sold our small Uber Technologies, Inc. (NYSE:UBER) position following second quarter results to fund the ASML increase. Uber's quarter was operationally solid, gross bookings grew 24% and operating profits rose 33%, but third quarter earnings guidance was modestly below expectations. UBER was performing roughly in line with our investment thesis, but on a relative basis we believe ASML is more attractive given its near term momentum and its long term competitive position as the sole provider of cutting-edge semiconductor wafer lithography."
Uber Technologies, Inc. (NYSE:UBER) ranks 12 on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 151 hedge fund portfolios held Uber Technologies, Inc. (NYSE:UBER) at the end of the second quarter, down from 153 in the previous quarter. While we acknowledge the potential of Uber Technologies, Inc. (NYSE:UBER) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
In a previous article, we covered Uber (NYSE:UBER), highlighting why Nancy Pelosi and Bill Ackman are bullish on the stock. In addition, please check out our hedge fund investor letters Q3 2026 page for more investor letters from hedge funds and other leading investors.
This article is originally published at Insider Monkey.
