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Uber Technologies Inc. (NYSE: UBER): Can It Make A Huge Gain?

In the last trading session, 15.01 million Uber Technologies Inc. (NYSE:UBER) shares changed hands as the company’s beta touched 1.23. With the company’s per share price at $46.51 changed hands at -$1.01 or -2.13% during last session, the market valuation stood at $96.64B. UBER’s last price was a discount, traded about -6.41% off its 52-week high of $49.49. The share price had its 52-week low at $22.94, which suggests the last value was 50.68% up since then. When we look at Uber Technologies Inc.’s average trading volume, we note the 10-day average is 15.64 million shares, with the 3-month average coming to 20.81 million.

Analysts gave the Uber Technologies Inc. (UBER) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.80. If we narrow down to specifics, the data shows that 0 out of 47 analysts rate the stock as a Sell, with a further 5 assigning it an Overweight rating. Of the remaining, 3 recommended UBER as a Hold, 39 felt it is a Buy and 0 rated the stock as Underweight. Uber Technologies Inc.’s EPS for the current quarter is expected to be $0.12.

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Uber Technologies Inc. (NYSE:UBER) trade information

Instantly UBER was in red as seen at the end of in last trading. With action -4.97%, the performance over the past five days has been red. The drop to weekly highs of 49.19 on Monday, 09/18/23 subtracted -2.13% to the stock’s daily price. The company’s shares are showing year-to-date upside of 88.07%, with the 5-day performance at -4.97% in the red. However, in the 30-day time frame, Uber Technologies Inc. (NYSE:UBER) is 5.78% up. Looking at the short shares, we see there were 48.21 million shares sold at short interest cover period of 2.21 days.

The consensus price target for the stock as assigned by Wall Street analysts is $58.38, meaning bulls need an upside of 20.33% from its current market value. According to analyst projections, UBER’s forecast low is $45.00 with $75.00 as the target high. To hit the forecast high, the stock’s price needs a -61.26% plunge from its current level, while the stock would need to tank 3.25% for it to hit the projected low.

Uber Technologies Inc. (UBER) estimates and forecasts

Data shows that the Uber Technologies Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 46.35% over the past 6 months, a 108.82% in annual growth rate that is considerably higher than the industry average of 20.40%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Uber Technologies Inc. will rise 119.70%, while the growth in revenue is estimated to hit -44.80% for the next quarter. Year-over-year growth is forecast to reach 17.80% up from the last financial year.

Consensus estimates given by 34 financial analysts project the company’s revenue in the current quarter to hit an average of $9.54 billion. 34 analysts are of the opinion that Uber Technologies Inc.’s revenue for the quarter ending Dec 2023 will be $10.02 billion. The company’s revenue for the corresponding quarters a year ago was $8.12 billion and $8.61 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 17.50%. The estimates for the next quarter sales put growth at 16.40%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -10.40%. The 2023 estimates are for Uber Technologies Inc. earnings to increase by 107.50%, but the outlook for the next 5-year period is at 23.17% per year.

UBER Dividends

Uber Technologies Inc. is expected to release its next quarterly earnings report between October 30 and November 03.

Uber Technologies Inc. (NYSE:UBER)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.17% of Uber Technologies Inc. shares while 77.04% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 77.18%. There are 77.04% institutions holding the Uber Technologies Inc. stock share, with Morgan Stanley the top institutional holder. As of Jun 29, 2023, the company held 7.59% of the shares, roughly 155.05 million UBER shares worth $6.69 billion.

FMR, LLC holds the second largest percentage of outstanding shares, with 7.05% or 144.14 million shares worth $6.22 billion as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. With 59.98 million shares estimated at $2.59 billion under it, the former controlled 2.93% of total outstanding shares. On the other hand, Vanguard Extended Market Index Fund held about 1.38% of the shares, roughly 28.13 million shares worth around $1.21 billion.

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