Equities Analysts Set Expectations for UBER FY2024 Earnings

Uber Technologies, Inc. (NYSE:UBER) – Equities research analysts at Cantor Fitzgerald dropped their FY2024 earnings estimates for Uber Technologies in a research report issued on Tuesday, January 7th. Cantor Fitzgerald analyst D. Mathivanan now forecasts that the ride-sharing company will post earnings of $1.88 per share for the year, down from their prior estimate 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.

UBER has been the subject of several other research reports. DA Davidson raised their price objective on shares of Uber Technologies from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. JMP Securities cut shares of Uber Technologies from an “outperform” rating to a “market perform” rating and set a $95.00 target price for the company. in a report on Thursday, January 2nd. Tigress Financial upped their price target on shares of Uber Technologies from $96.00 to $103.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price on shares of Uber Technologies in a research report on Thursday, October 31st. Finally, Gordon Haskett raised Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a research report on Thursday, October 31st. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Uber Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $91.53.

Uber Technologies Stock Down 1.8 %

UBER stock opened at $64.96 on Thursday. Uber Technologies has a 52 week low of $54.84 and a 52 week high of $87.00. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. The company 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. The firm’s 50-day moving average is $67.20 and its two-hundred day moving average is $70.59.

Uber Technologies (NYSE:UBER) last issued its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.79. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The company had revenue of $11.19 billion for the quarter, compared to analysts’ expectations of $10.99 billion. During the same period in the prior year, the company earned $0.10 earnings per share. The firm’s revenue was up 20.4% compared to the same quarter last year.

Hedge Funds Weigh In On Uber Technologies

Several hedge funds and other institutional investors have recently modified their holdings of UBER. Farmers Trust Co. increased its holdings in Uber Technologies by 1.8% in the 4th quarter. Farmers Trust Co. now owns 45,323 shares of the ride-sharing company’s stock worth $2,734,000 after purchasing an additional 799 shares in the last quarter. Fulton Bank N.A. increased its position in Uber Technologies by 86.5% in the 4th quarter. Fulton Bank N.A. now owns 22,337 shares of the ride-sharing company’s stock valued at $1,347,000 after acquiring an additional 10,357 shares during the period. Diversified Trust Co lifted its holdings in shares of Uber Technologies by 3.7% during the fourth quarter. Diversified Trust Co now owns 15,667 shares of the ride-sharing company’s stock worth $945,000 after purchasing an additional 557 shares during the period. Bangor Savings Bank bought a new position in Uber Technologies during the 4th quarter worth $572,000. Finally, APEIRON CAPITAL Ltd acquired a new position in Uber Technologies during the 4th quarter worth about $6,714,000. Institutional investors own 80.24% of the company’s stock.

Insider Buying and Selling

In other news, insider Jill Hazelbaker sold 27,780 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the completion of the sale, the insider now owns 107,289 shares of the company’s stock, valued at approximately $7,821,368.10. This represents a 20.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.84% of the stock is currently owned by insiders.

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.