Why Should You Invest In Uber Technologies Inc (NYSE: UBER)?

In the last trading session, 28.45 million Uber Technologies Inc (NYSE:UBER) shares changed hands as the company’s beta touched 1.30. With the company’s per share price at $54.75 changed hands at $0.31 or 0.57% during last session, the market valuation stood at $112.67B. UBER’s last price was a premium, traded about 0.44% off its 52-week high of $54.51. The share price had its 52-week low at $23.90, which suggests the last value was 56.35% up since then. When we look at Uber Technologies Inc’s average trading volume, we note the 10-day average is 31.51 million shares, with the 3-month average coming to 18.93 million.

Analysts gave the Uber Technologies Inc (UBER) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.15. If we narrow down to specifics, the data shows that 0 out of 46 analysts rate the stock as a Sell, with a further 5 assigning it an Overweight rating. Of the remaining, 1 recommended UBER as a Hold, 40 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 $0.15.

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Uber Technologies Inc (NYSE:UBER) trade information

Instantly UBER was in green as seen at the end of in last trading. With action 4.80%, the performance over the past five days has been green. The jump to weekly highs of 55.35 on Monday, 11/20/23 added 0.57% to the stock’s daily price. The company’s shares are showing year-to-date upside of 121.39%, with the 5-day performance at 4.80% in the green. However, in the 30-day time frame, Uber Technologies Inc (NYSE:UBER) is 27.44% up. Looking at the short shares, we see there were 46.95 million shares sold at short interest cover period of 2.87 days.

The consensus price target for the stock as assigned by Wall Street analysts is $60.88, meaning bulls need an upside of 10.07% 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 -36.99% plunge from its current level, while the stock would need to tank 17.81% 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 39.78% over the past 6 months, a 107.96% in annual growth rate that is considerably higher than the industry average of 21.50%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Uber Technologies Inc will fall -48.30%, while the growth in revenue is estimated to hit 337.50% for the next quarter. Year-over-year growth is forecast to reach 16.40% up from the last financial year.

Consensus estimates given by 37 financial analysts project the company’s revenue in the current quarter to hit an average of $9.76 billion. 25 analysts are of the opinion that Uber Technologies Inc’s revenue for the quarter ending Mar 2024 will be $9.92 billion. The company’s revenue for the corresponding quarters a year ago was $8.61 billion and $8.82 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 13.40%. The estimates for the next quarter sales put growth at 12.40%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -14.17%. The 2023 estimates are for Uber Technologies Inc earnings to increase by 107.99%, 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 February 06 and February 12.

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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