Top 5 Tech Stocks to Buy Today According to Brad Gerstner’s Altimeter Capital Management

3. Uber Technologies, Inc. (NYSE:UBER)

Gerstner’s Stake Value: $1.23 billion

Percentage of Brad Gerstner’s 13F Portfolio: 9.23%

Number of Hedge Fund Holders: 135

Uber Technologies, Inc. (NYSE:UBER) was founded in 2009 and is a tech company offering services like ride-hailing, delivery, courier, and more.

Uber Technologies, Inc. (NYSE:UBER) released its second-quarter 2021 results on August 4, 2021. The declared EPS by the company was $0.58, beating the estimates of -$0.49. The revenue generated was $3.93 billion, which beats the forecast of $3.76 billion.

Gerstner holds 24.5 million shares in Uber Technologies, Inc. (NYSE:UBER) worth $1.23 billion. 

RiverPark Funds mentioned Uber Technologies, Inc. (NYSE:UBER) in its second-quarter 2021 investor letter. Here is what it said:

“UBER was our top detractor for the quarter. Delivery growth remains strong, and ride-sharing has started to recover, though still down year over year (vs. pre-COVID results). Gross bookings grew 24% year over year, driven by 166% Delivery growth.

Despite the COVID disruption, UBER remains the undisputed global leader in ride-sharing, with greater than 50% share in every major region in which it operates. The company is also a leader in food delivery (64% of 1Q21 revenue), where it is number one or two in the more than 25 countries in which it operates. We view UBER as more than just ride sharing and food delivery, but also as a global mobility platform with the ability to sell to its more than 100 million users (by comparison, Amazon Prime has 130+ million members) and penetrate new markets of ondemand services, such as grocery delivery, truck brokerage and worker staffing for shift work. Its New Verticals (non-food delivery such as grocery, convenience, and alcohol) business hit a $3 billion annualized run rate in March, up 77% quarter over quarter.

UBER, at its current $91 billion market capitalization, trades at 4x next year’s revenue from its two core businesses. Additionally, the company has substantial, unrecognized, value in its several nascent development businesses and another $13 billion in equity stakes in synergistic businesses around the world.”