Uber Technologies (NYSE:UBER) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

Uber Technologies (NYSE:UBER) had its price target boosted by equities researchers at Cantor Fitzgerald from $75.00 to $80.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the ride-sharing company’s stock. Cantor Fitzgerald’s target price points to a potential upside of 19.90% from the company’s previous close. Cantor Fitzgerald also issued estimates for Uber Technologies’ FY2024 earnings at $1.87 EPS and FY2025 earnings at $2.32 EPS.

Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group increased their price target on Uber Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. UBS Group lifted their price target on Uber Technologies from $102.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price objective on shares of Uber Technologies in a report on Monday. The Goldman Sachs Group reaffirmed a “buy” rating and set a $96.00 target price on shares of Uber Technologies in a research note on Thursday, January 2nd. Finally, Truist Financial dropped their price target on shares of Uber Technologies from $99.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.08.

Uber Technologies Stock Down 2.0 %

Shares of UBER opened at $66.72 on Tuesday. The stock has a 50 day moving average price of $65.83 and a 200 day moving average price of $70.19. Uber Technologies has a one year low of $54.84 and a one year high of $87.00. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a market capitalization of $140.50 billion, a price-to-earnings ratio of 33.20, a PEG ratio of 0.77 and a beta of 1.36.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.79. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The company had revenue of $11.19 billion during the quarter, compared to analysts’ expectations of $10.99 billion. During the same quarter in the prior year, the company earned $0.10 EPS. Uber Technologies’s revenue was up 20.4% compared to the same quarter last year. Equities research analysts forecast that Uber Technologies will post 1.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the sale, the insider now owns 107,289 shares of the company’s stock, valued at approximately $7,821,368.10. This trade represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.84% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Avion Wealth lifted its position in Uber Technologies by 96.0% in the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock valued at $26,000 after acquiring an additional 218 shares during the last quarter. GHP Investment Advisors Inc. increased its position in shares of Uber Technologies by 85.1% during the fourth quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 223 shares in the last quarter. Kieckhefer Group LLC purchased a new stake in shares of Uber Technologies in the 4th quarter valued at about $33,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Uber Technologies in the 4th quarter valued at about $35,000. Finally, Financial Management Professionals Inc. boosted its position in shares of Uber Technologies by 104.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 494 shares of the ride-sharing company’s stock valued at $37,000 after purchasing an additional 252 shares during the period. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Company Profile

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.