Cantor Fitzgerald Has Negative View of UBER FY2024 Earnings

Uber Technologies, Inc. (NYSE:UBER) – Investment analysts at Cantor Fitzgerald reduced their FY2024 EPS estimates for shares of Uber Technologies in a research report issued to clients and investors on Tuesday, January 7th. Cantor Fitzgerald analyst D. Mathivanan now anticipates that the ride-sharing company will post earnings of $1.88 per share for the year, down from their prior forecast of $1.95. Cantor Fitzgerald currently has a “Overweight” rating and a $90.00 target price on the stock. The consensus estimate for Uber Technologies’ current full-year earnings is $1.89 per share.

UBER has been the topic of several other research reports. Bank of America upped their price objective on shares of Uber Technologies from $88.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Evercore ISI upped their price target on shares of Uber Technologies from $90.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Raymond James assumed coverage on shares of Uber Technologies in a research note on Tuesday, September 24th. They set a “strong-buy” rating and a $90.00 price objective for the company. Tigress Financial boosted their price objective on shares of Uber Technologies from $96.00 to $103.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, KeyCorp reduced their target price on Uber Technologies from $90.00 to $85.00 and set an “overweight” 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 given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $91.53.

Uber Technologies Trading Down 1.8 %

Shares of NYSE:UBER opened at $64.96 on Thursday. The business’s 50-day moving average is $67.06 and its 200 day moving average is $70.56. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. Uber Technologies has a 1 year low of $54.84 and a 1 year high of $87.00. The firm has a market capitalization of $136.79 billion, a P/E ratio of 32.32, a P/E/G ratio of 0.75 and a beta of 1.36.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Uber Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 42,500,359 shares of the ride-sharing company’s stock valued at $3,184,013,000 after purchasing an additional 893,652 shares in the last quarter. Edgewood Management LLC grew its holdings in Uber Technologies by 10.5% in the 3rd quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after buying an additional 2,627,768 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Uber Technologies by 1.6% in the 2nd quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock worth $1,107,529,000 after acquiring an additional 237,976 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Uber Technologies by 18.3% during the 3rd quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock worth $998,767,000 after acquiring an additional 2,056,273 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Uber Technologies by 14.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,498,209 shares of the ride-sharing company’s stock valued at $939,365,000 after acquiring an additional 1,601,747 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 27,780 shares of Uber Technologies stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $72.90, for a total value of $2,025,162.00. Following the sale, the insider now directly owns 107,289 shares of the company’s stock, valued at $7,821,368.10. The trade was a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.84% of the stock is currently owned by company insiders.

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.