William Blair Research Analysts Raise Earnings Estimates for Uber Technologies, Inc. (NYSE:UBER)

Posted by Defense World Staff on Aug 5th, 2023

Uber Technologies, Inc. (NYSE:UBER – Free Report) – Analysts at William Blair increased their Q3 2024 EPS estimates for shares of Uber Technologies in a report released on Wednesday, August 2nd. William Blair analyst R. Schackart now expects that the ride-sharing company will post earnings of $0.40 per share for the quarter, up from their prior estimate of $0.29. The consensus estimate for Uber Technologies’ current full-year earnings is $0.10 per share. William Blair also issued estimates for Uber Technologies’ Q4 2024 earnings at $0.43 EPS.

Other equities analysts have also recently issued research reports about the stock. Loop Capital lifted their price objective on shares of Uber Technologies from $42.00 to $48.00 in a research note on Friday, June 9th. Citigroup lifted their price objective on shares of Uber Technologies from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday. DA Davidson reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Uber Technologies in a research note on Monday, July 31st. Roth Mkm lifted their target price on shares of Uber Technologies from $46.00 to $59.00 and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Finally, Piper Jaffray Companies lifted their target price on shares of Uber Technologies from $41.00 to $43.00 in a research report on Wednesday, May 3rd. Thirty equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Uber Technologies has an average rating of “Buy” and an average target price of $55.03.

Uber Technologies Stock Performance

Shares of UBER opened at $45.19 on Friday. The firm’s 50 day moving average is $43.57 and its 200-day moving average is $36.91. The stock has a market capitalization of $91.46 billion, a P/E ratio of -205.41, a P/E/G ratio of 10.97 and a beta of 1.23. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.06 and a quick ratio of 1.06. Uber Technologies has a 12-month low of $22.94 and a 12-month high of $49.49.

Uber Technologies (NYSE:UBER – Get Free Report) last released its quarterly earnings results on Tuesday, August 1st. The ride-sharing company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.19. The company had revenue of $9.23 billion for the quarter, compared to the consensus estimate of $9.34 billion. Uber Technologies had a negative net margin of 1.07% and a negative return on equity of 4.82%. Uber Technologies’s revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.33) EPS.

Institutional Investors Weigh In On Uber Technologies

Several large investors have recently made changes to their positions in the company. Parallel Advisors LLC grew its holdings in shares of Uber Technologies by 2.4% in the 2nd quarter. Parallel Advisors LLC now owns 273,134 shares of the ride-sharing company’s stock worth $11,791,000 after purchasing an additional 6,321 shares during the last quarter. Sandy Spring Bank lifted its position in Uber Technologies by 52.3% during the 2nd quarter. Sandy Spring Bank now owns 2,489 shares of the ride-sharing company’s stock worth $107,000 after buying an additional 855 shares in the last quarter. Callan Capital LLC lifted its position in Uber Technologies by 13.4% during the 2nd quarter. Callan Capital LLC now owns 14,418 shares of the ride-sharing company’s stock worth $622,000 after buying an additional 1,699 shares in the last quarter. Markel Group Inc. acquired a new position in Uber Technologies during the 2nd quarter worth about $302,000. Finally, N.E.W. Advisory Services LLC acquired a new position in Uber Technologies during the 2nd quarter worth about $208,000. Institutional investors own 73.90% of the company’s stock.

Insider Activity at Uber Technologies

In other Uber Technologies news, CEO Dara Khosrowshahi sold 100,000 shares of the business’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $47.51, for a total value of $4,751,000.00. Following the sale, the chief executive officer now owns 1,316,243 shares of the company’s stock, valued at approximately $62,534,704.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Uber Technologies news, CEO Dara Khosrowshahi sold 100,000 shares of the business’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $47.51, for a total value of $4,751,000.00. Following the sale, the chief executive officer now owns 1,316,243 shares of the company’s stock, valued at approximately $62,534,704.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Tony West sold 12,501 shares of the business’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $37.85, for a total transaction of $473,162.85. Following the completion of the sale, the insider now directly owns 181,750 shares in the company, valued at approximately $6,879,237.50. The disclosure for this sale can be found here. Insiders sold a total of 238,143 shares of company stock worth $10,798,399 in the last ninety days. 3.84% of the stock is currently owned by insiders.

Uber Technologies Company Profile

(Get Free Report)

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.