FY2024 EPS Estimates for UBER Cut by Cantor Fitzgerald

Uber Technologies, Inc. (NYSE:UBER - Free Report) - Stock analysts at Cantor Fitzgerald lowered their FY2024 earnings estimates for shares of Uber Technologies in a report issued on Tuesday, January 7th. Cantor Fitzgerald analyst D. Mathivanan now anticipates that the ride-sharing company will post earnings per share of $1.88 for the year, down from their prior forecast of $1.95. Cantor Fitzgerald currently has a "Overweight" rating and a $90.00 price target on the stock. The consensus estimate for Uber Technologies' current full-year earnings is $1.89 per share.

A number of other research firms have also recently issued reports on UBER. Bank of America lifted their price target on Uber Technologies from $88.00 to $96.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Wolfe Research upped their target price on shares of Uber Technologies from $90.00 to $92.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Tigress Financial increased their price target on shares of Uber Technologies from $96.00 to $103.00 and gave the company a "buy" rating in a research note on Monday, November 25th. Needham & Company LLC restated a "buy" rating and issued a $90.00 price objective on shares of Uber Technologies in a research report on Thursday, October 31st. Finally, UBS Group increased their price objective on Uber Technologies from $102.00 to $114.00 and gave the company a "buy" rating in a research report on Friday, October 18th. Seven 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.53.

Uber Technologies Price Performance

UBER traded down $1.19 during trading on Thursday, hitting $64.96. The company's stock had a trading volume of 24,485,956 shares, compared to its average volume of 29,452,506. The firm's 50 day moving average price is $67.20 and its two-hundred day moving average price is $70.59. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $136.79 billion, a price-to-earnings ratio of 32.32, a price-to-earnings-growth ratio of 0.75 and a beta of 1.36. Uber Technologies has a 12 month low of $54.84 and a 12 month high of $87.00.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.79. The company had revenue of $11.19 billion during the quarter, compared to analysts' expectations of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. Uber Technologies's quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 earnings per share.

Institutional Trading of Uber Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. LGT Fund Management Co Ltd. bought a new position in shares of Uber Technologies in the second quarter valued at $567,000. Royal London Asset Management Ltd. raised its holdings in shares of Uber Technologies by 3.0% in the 2nd quarter. Royal London Asset Management Ltd. now owns 814,543 shares of the ride-sharing company's stock valued at $59,201,000 after purchasing an additional 23,450 shares during the period. Van Hulzen Asset Management LLC lifted its stake in Uber Technologies by 3.4% in the 2nd quarter. Van Hulzen Asset Management LLC now owns 7,603 shares of the ride-sharing company's stock valued at $553,000 after purchasing an additional 248 shares during the last quarter. Coldstream Capital Management Inc. grew its holdings in Uber Technologies by 8.2% during the second quarter. Coldstream Capital Management Inc. now owns 16,229 shares of the ride-sharing company's stock worth $1,180,000 after purchasing an additional 1,235 shares during the period. Finally, Angeles Wealth Management LLC raised its stake in Uber Technologies by 4.6% in the second quarter. Angeles Wealth Management LLC now owns 6,306 shares of the ride-sharing company's stock valued at $458,000 after buying an additional 275 shares during the period. Institutional investors and hedge funds own 80.24% of the company's stock.

Insider Transactions at Uber Technologies

In related news, insider Jill Hazelbaker sold 27,780 shares of the firm's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $72.90, for a total value of $2,025,162.00. Following the completion of the transaction, the insider now owns 107,289 shares of the company's stock, valued at approximately $7,821,368.10. This trade represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.84% of the stock is owned by insiders.

Uber Technologies Company Profile

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.