Wedbush Equities Analysts Raise Earnings Estimates for UBER

Uber Technologies, Inc. (NYSE:UBER - Free Report) - Equities research analysts at Wedbush increased their Q3 2024 earnings per share (EPS) estimates for shares of Uber Technologies in a research report issued on Tuesday, October 29th. Wedbush analyst S. Devitt now forecasts that the ride-sharing company will post earnings of $0.34 per share for the quarter, up from their previous forecast of $0.32. The consensus estimate for Uber Technologies' current full-year earnings is $1.10 per share. Wedbush also issued estimates for Uber Technologies' FY2024 earnings at $0.90 EPS, Q1 2025 earnings at $0.33 EPS, Q2 2025 earnings at $0.57 EPS, Q3 2025 earnings at $0.59 EPS, Q4 2025 earnings at $0.63 EPS, FY2025 earnings at $2.12 EPS and FY2026 earnings at $3.01 EPS.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share (EPS) for the quarter, beating 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 business had revenue of $10.70 billion during the quarter, compared to analyst estimates of $10.57 billion. During the same period in the prior year, the business earned $0.18 earnings per share. The business's revenue was up 15.9% compared to the same quarter last year.

A number of other research analysts have also issued reports on UBER. Daiwa America lowered Uber Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 17th. Wolfe Research assumed coverage on Uber Technologies in a research report on Tuesday, July 16th. They set an "outperform" rating and a $90.00 target price on the stock. Benchmark assumed coverage on Uber Technologies in a research report on Friday, October 25th. They issued a "hold" rating on the stock. Melius assumed coverage on Uber Technologies in a research report on Monday, July 22nd. They set a "hold" rating and a $77.00 target price on the stock. Finally, Roth Mkm boosted their target price on Uber Technologies from $89.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, August 7th. Seven investment 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 company. Based on data from MarketBeat.com, Uber Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.86.

Uber Technologies Trading Down 11.8 %

UBER traded down $9.39 during trading hours on Thursday, reaching $70.04. The company's stock had a trading volume of 28,726,676 shares, compared to its average volume of 17,868,879. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.21 and a quick ratio of 1.21. The business's 50-day moving average is $75.40 and its 200-day moving average is $70.87. Uber Technologies has a fifty-two week low of $42.20 and a fifty-two week high of $87.00. The stock has a market cap of $147.15 billion, a PE ratio of 80.73, a P/E/G ratio of 1.33 and a beta of 1.33.

Insider Activity

In other news, insider Jill Hazelbaker sold 40,000 shares of the firm's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the completion of the sale, the insider now owns 127,352 shares in the company, valued at approximately $9,169,344. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.80% of the company's stock.

Hedge Funds Weigh In On Uber Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in UBER. GHP Investment Advisors Inc. grew its holdings in Uber Technologies by 222.7% during the 2nd quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company's stock worth $26,000 after acquiring an additional 245 shares during the last quarter. WR Wealth Planners LLC lifted its position in shares of Uber Technologies by 563.9% during the 2nd quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company's stock valued at $29,000 after acquiring an additional 344 shares during the period. J.Safra Asset Management Corp acquired a new position in shares of Uber Technologies during the 1st quarter valued at $32,000. MCF Advisors LLC raised its holdings in Uber Technologies by 1,038.5% during the second quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company's stock worth $32,000 after buying an additional 405 shares during the last quarter. Finally, Founders Capital Management acquired a new position in Uber Technologies during the second quarter worth $33,000. 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.