Why Uber Technologies Inc (NYSE: UBER) Is A Stock Not To Be Discarded In 2024

In today’s recent session, 4.12 million shares of the Uber Technologies Inc (NYSE:UBER) have been traded, and its beta is 1.36. Most recently the company’s share price was $76.51, and it changed around -$0.48 or -0.62% from the last close, which brings the market valuation of the company to $158.88B. UBER at last check was trading at a discount to its 52-week high of $82.14, offering almost -7.36% off that amount. The share price’s 52-week low was $29.22, which indicates that the recent value has risen by an impressive 61.81% since then. We note from Uber Technologies Inc’s average daily trading volume that its 10-day average is 14.23 million shares, with the 3-month average coming to 20.32 million.

Uber Technologies Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.29. If we narrow it down even further, the data shows that 0 out of 48 analysts rate the stock as a Sell; another 10 rate it as Overweight. Among the rest, 3 recommended UBER as a Hold, whereas 35 deemed it a Buy, and 0 rated it as Underweight. Uber Technologies Inc is expected to report earnings per share of $0.24 for the current quarter.

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Uber Technologies Inc (NYSE:UBER) trade information

Instantly UBER has been showing red trend so far today with a performance of -0.62% on intraday trading today. The performance over the last five days has remained in the red territory. The company’s shares are currently up 24.27% year-to-date, but still down -4.63% over the last five days. On the other hand, Uber Technologies Inc (NYSE:UBER) is -3.76% down in the 30-day period. We can see from the shorts that 57.82 million shares have been sold at a short interest cover period of 3.28 day(s).

The consensus price target as assigned by Wall Street analysts is $63.81, which translates to bulls needing to decrease their stock price by -19.9% from its current value. Analyst projections state that UBER is forecast to be at a low of $35 and a high of $94.

Uber Technologies Inc (UBER) estimates and forecasts

Uber Technologies Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 65.83 percent over the past six months and at a 36.78% annual growth rate that is well above the industry average of 19.90%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 400.00% in revenue this quarter, and will report an increase of 66.70% in the next quarter. The year-over-year growth rate is expected to be 16.10%, up from the previous year.

Consensus estimates provided by 38 financial analysts predict the company will bring in an average of $10.08 billion in revenue for the current quarter. 36 analysts expect Uber Technologies Inc to make $10.62 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $8.82 billion and $9.23 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 14.20%. Forecasts for the next quarter put sales growth at 15.10%.

Uber Technologies Inc earnings are expected to increase by 43.17% in 2024, but the outlook is positive 47.00% per year for the next five years.

UBER Dividends

Uber Technologies Inc’s next quarterly earnings report is expected to be released around April 30 and May 06.

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

Upon looking at major shareholders, it appears that insiders hold 0.17% of Uber Technologies Inc shares, and 83.66% of them are in the hands of institutional investors. The stock currently has a share float of 83.80%. Uber Technologies Inc stock is held by 2,005 institutions, with Morgan Stanley being the largest institutional investor. By Jun 29, 2023, it held 7.59% of the shares, which is about 155.05 million shares worth $6.69 billion.

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

Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 59.98 million shares worth $2.59 billion, making up 2.93% of all outstanding shares. On the other hand, Vanguard Extended Market Index Fund held roughly 28.13 million shares worth around $1.21 billion, which represents about 1.38% of the total shares outstanding.