Cantor Fitzgerald Brokers Reduce Earnings Estimates for UBER

Uber Technologies, Inc. (NYSE:UBER) – Equities researchers at Cantor Fitzgerald lowered their FY2024 earnings per share estimates for Uber Technologies in a research report issued on Tuesday, January 28th. Cantor Fitzgerald analyst D. Mathivanan now anticipates that the ride-sharing company will post earnings of $1.87 per share for the year, down from their prior estimate of $1.88. Cantor Fitzgerald has a “Overweight” rating and a $80.00 price objective on the stock. The consensus estimate for Uber Technologies’ current full-year earnings is $1.86 per share. Cantor Fitzgerald also issued estimates for Uber Technologies’ FY2025 earnings at $2.32 EPS.

Several other equities analysts have also recently weighed in on the company. BMO Capital Markets restated an “outperform” rating and set a $92.00 price objective on shares of Uber Technologies in a research note on Friday, October 11th. Royal Bank of Canada boosted their price target on shares of Uber Technologies from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Wolfe Research upped their price objective on shares of Uber Technologies from $90.00 to $92.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Evercore ISI lifted their target price on shares of Uber Technologies from $90.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Gordon Haskett raised Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a report on Thursday, October 31st. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Uber Technologies presently has an average rating of “Moderate Buy” and an average target price of $91.08.

Uber Technologies Stock Down 0.2 %

Uber Technologies stock opened at $66.59 on Wednesday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. The firm’s fifty day moving average price is $65.77 and its two-hundred day moving average price is $70.17. The firm has a market capitalization of $140.21 billion, a price-to-earnings ratio of 33.13, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36. Uber Technologies has a 1-year low of $54.84 and a 1-year high of $87.00.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, beating the consensus estimate of $0.41 by $0.79. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The firm had revenue of $11.19 billion during the quarter, compared to the consensus estimate of $10.99 billion. During the same quarter in the previous year, the company posted $0.10 earnings per share. The company’s quarterly revenue was up 20.4% on a year-over-year basis.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 27,780 shares of the stock in a transaction dated 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Uber Technologies

Several institutional investors have recently modified their holdings of the company. Strategic Financial Concepts LLC acquired a new stake in Uber Technologies in the fourth quarter worth about $4,136,000. Allworth Financial LP increased its holdings in shares of Uber Technologies by 8.9% in the fourth quarter. Allworth Financial LP now owns 20,381 shares of the ride-sharing company’s stock valued at $1,229,000 after buying an additional 1,663 shares in the last quarter. Principal Securities Inc. increased its stake in Uber Technologies by 39.0% in the 4th quarter. Principal Securities Inc. now owns 40,604 shares of the ride-sharing company’s stock worth $2,449,000 after purchasing an additional 11,400 shares in the last quarter. TigerOak Management L.L.C. acquired a new stake in Uber Technologies during the 4th quarter valued at $1,278,000. Finally, Covenant Asset Management LLC lifted its holdings in shares of Uber Technologies by 0.4% in the fourth quarter. Covenant Asset Management LLC now owns 53,868 shares of the ride-sharing company’s stock valued at $3,249,000 after purchasing an additional 217 shares in the last quarter. Institutional investors own 80.24% of the company’s stock.

About Uber Technologies

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.