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Uber Technologies Inc (UBER): Why Is Stock So Good?

In the last trading session, 19.48 million Uber Technologies Inc (NYSE:UBER) shares changed hands as the company’s beta touched 1.34. With the company’s per share price at $69.12 changed hands at -$1.79 or -2.52% during last session, the market valuation stood at $142.24B. UBER’s last price was a discount, traded about -5.69% off its 52-week high of $73.05. The share price had its 52-week low at $29.22, which suggests the last value was 57.73% up since then. When we look at Uber Technologies Inc’s average trading volume, we note the 10-day average is 22.8 million shares, with the 3-month average coming to 0.63.

Uber Technologies Inc (NYSE:UBER) trade information

Instantly UBER was in red as seen at the end of in last trading. With action 0.19%, the performance over the past five days has been green. The drop to weekly highs of 73.05 subtracted -2.52% to the stock’s daily price. The company’s shares are showing year-to-date upside of 12.26%, with the 5-day performance at 0.19% in the green. However, in the 30-day time frame, Uber Technologies Inc (NYSE:UBER) is 8.90% up. Looking at the short shares, we see there were 60.1 million shares sold at short interest cover period of 2.74 days.

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Uber Technologies Inc (UBER) estimates and forecasts

Data shows that the Uber Technologies Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 58.13% over the past 6 months, a 24.14% in annual growth rate that is considerably lower than the industry average of 25.10%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Uber Technologies Inc will rise 387.50%, while the growth in revenue is estimated to hit 61.10% for the next quarter. Year-over-year growth is forecast to reach 15.80% up from the last financial year.

Consensus estimates given by 35 financial analysts project the company’s revenue in the current quarter to hit an average of $10.07 billion. 33 analysts are of the opinion that Uber Technologies Inc’s revenue for the quarter ending Jun 2024 will be $10.61 billion. The company’s revenue for the corresponding quarters a year ago was $8.82 billion and $9.23 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 14.10%. The estimates for the next quarter sales put growth at 14.90%.

The 2024 estimates are for Uber Technologies Inc earnings to increase by 37.71%, 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 April 30 and May 06.

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