Uber Technologies, Inc. (NYSE:UBER – Get Rating) – William Blair lowered its first-quarter 2023 earnings forecast for Uber Technologies shares in a research note issued Wednesday, Jan. 4. William Blair analyst R. Schackart now expects the ridesharing company to post earnings per share of his ($0.57) for the quarter, down from his previous forecast ($0.50). The current consensus estimate for Uber Technologies annual earnings is ($5.12) per share. William Blair also reported Uber Technologies’ second quarter 2023 earnings at ($0.57) EPS, third quarter 2023 earnings at ($0.51) EPS, and fourth quarter 2023 earnings at ($0.36) EPS. 2023 earnings estimated at ($2.01) EPS.
Uber Technologies (NYSE:UBER – Get Rating) last reported quarterly results on Tuesday, November 1. The ride-sharing company reported a quarterly EPS of ($0.61) and missed analyst consensus estimates of ($0.17) ($0.44). The company’s earnings for the quarter were $8.34 billion, compared with analysts’ expectations of $8.08 billion. Uber Technologies had a net profit margin of 30.45% and a return on equity of 90.49%.
UBER has been the subject of many other reports. Truist Financial lowered its price target for Uber Technologies stock from $67.00 to $60.00 in a report on Monday, Oct. 24, giving the company a “buy” rating. Cowen said in his Monday Oct. 24 report that he lowered his price target on Uber Technologies stock from $76.00 to $70.00, setting the company’s valuation at “outperform.” Cowen lowered his price target on Uber Technologies stock from $76.00 to $70.00 and set the company’s valuation to “outperform,” in his Monday Oct. 24 report. Needham & Company LLC raised its price target on Uber Technologies stock from $52.00 to $54.00 and gave the stock a Buy rating in a report on Wednesday, November 2nd. Finally, Morgan Stanley lowered his price target on Uber Technologies stock from $70.00 to $54.00 in his Monday, Oct. 3 report, setting the company’s rating to “overweight.” One investment analyst rated the stock with a hold rating and 27 gave the stock a buy rating. Based on MarketBeat data, the stock currently has an average rating of “moderate buy” with an average target price of $48.64.
Uber Technologies stock performance
NYSE UBER opened Friday at $25.55. Uber Technologies has a 52-week low of $19.90 and a 52-week high of $44.17. The company has a debt to equity ratio of 1.33, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $50.96 billion, a P/E of -5.63 and a beta of 1.18. The company has a 50-day moving average of $27.18 and a 200-day moving average of $27.05.
Institutional investors weigh Uber’s tech
A number of hedge funds and other institutional investors have recently bought and sold shares of UBER. Vanguard Group Inc. increased his stake in Uber Technologies by 5.9% in the third quarter. Vanguard Group Inc. now owns 110,536,758 shares of the ride-sharing company worth $2,929,224,000 after he purchased an additional 6,148,269 shares during the previous quarter. Jennison Associates LLC increased his Uber Technologies stake by 8.3% in the third quarter. Jennison Associates LLC now owns 47,898,025 shares of the ride-sharing company worth $1,269,298,000 after he purchased an additional 3,677,799 shares during the last quarter. Altimeter Capital Management LP increased its stake in Uber Technologies by 167.5% in the first quarter. Altimeter Capital Management LP now owns 30,760,000 shares of the ridesharing company worth $1,193,422,000 after purchasing an additional 19,260,000 shares during the last quarter. Capital World Investors increased its stake in Uber Technologies by 18.5% in the first quarter. Capital World Investors owns 22,070,619 shares of the ride-sharing company valued at $787.48 million after purchasing an additional 3,443,554 shares during the previous quarter. Finally, Clearbridge Investments LLC increased its stake in Uber Technologies by 0.5% in the second quarter. Clearbridge Investments LLC owns 19,739,878 shares of the ride-sharing company valued at $43878,000 after purchasing an additional 95,513 shares in the previous quarter. Hedge funds and other institutional investors own 71.83% of the company’s shares.
In other Uber Technologies news, insider Jill Hazelbaker sold 50,000 shares of the company’s stock in a deal on Friday, November 11th. The shares were sold at an average price of $30.01, bringing the total to her $1,500,500.00. After the sale, the insider now owns 145,750 shares of stock in the company, worth her $4,373,957.50. The sale was disclosed in her SEC filings available on the SEC’s website. A corporate insider owns her 4.06% of the company’s shares.
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 Pacific. It connects consumers with independent providers of ride services for rideshare services. It also connects riders and other consumers with restaurants, grocery stores and other establishments and delivery services his providers of meal preparation, grocery and other delivery services.
This instant news alert was generated by Narrative Science Technology and MarketBeat financial data to provide our readers with the fastest and most accurate reporting. This article was reviewed by MarketBeat’s editorial team prior to publication. Send any questions or comments about this story to email@example.com.
Listen to this before you consider Uber Technologies.
MarketBeat tracks Wall Street’s most acclaimed and top performing research analysts and the stocks they recommend to clients every day. MarketBeat has identified five stocks top analysts are quietly whispering to clients to buy now before the broader market catches on…and Uber Technologies is not on the list. bottom.
Uber Technologies currently holds a “moderate buy” rating among analysts, but top-rated analysts believe these five stocks are better buys.
See 5 stocks here