Wedbush Predicts Uber Technologies’ Q3 Earnings (NYSE:UBER)

Uber Technologies, Inc. (NYSE:UBER) – Investment analysts at Wedbush upped their Q3 2024 earnings per share estimates for shares of Uber Technologies in a research report issued to clients and investors on Tuesday, October 29th. Wedbush analyst S. Devitt now expects that the ride-sharing company will post earnings of $0.34 per share for the quarter, up from their prior forecast of $0.32. The consensus estimate for Uber Technologies’ current full-year earnings is $1.10 per share. Wedbush also issued estimates for Uber Technologies’ FY2024 earnings at $0.90 EPS, Q1 2025 earnings at $0.33 EPS, Q2 2025 earnings at $0.57 EPS, Q3 2025 earnings at $0.59 EPS, Q4 2025 earnings at $0.63 EPS, FY2025 earnings at $2.12 EPS and FY2026 earnings at $3.01 EPS.

Other equities analysts have also recently issued reports about the stock. Benchmark started coverage on shares of Uber Technologies in a research note on Friday, October 25th. They set a “hold” rating for the company. Evercore ISI increased their target price on shares of Uber Technologies from $90.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday. DA Davidson restated a “buy” rating and set a $82.00 price target on shares of Uber Technologies in a research note on Thursday, October 17th. Daiwa Capital Markets downgraded Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 price objective for the company. in a research report on Thursday, October 17th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $97.00 price objective on shares of Uber Technologies in a research report on Friday, September 13th. Six equities research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Uber Technologies has a consensus rating of “Moderate Buy” and an average price target of $90.19.

Uber Technologies Stock Down 9.3 %

UBER stock opened at $72.04 on Thursday. The stock has a market capitalization of $151.35 billion, a price-to-earnings ratio of 79.16, a price-to-earnings-growth ratio of 1.33 and a beta of 1.33. The company has a 50-day moving average of $75.38 and a two-hundred day moving average of $70.88. Uber Technologies has a 52-week low of $42.20 and a 52-week high of $87.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.21 and a quick ratio of 1.21.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.16. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The company had revenue of $10.70 billion during the quarter, compared to the consensus estimate of $10.57 billion. During the same quarter in the prior year, the company posted $0.18 EPS. The firm’s revenue was up 15.9% on a year-over-year basis.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 40,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the completion of the sale, the insider now directly owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in UBER. Norden Group LLC acquired a new stake in shares of Uber Technologies in the 1st quarter valued at approximately $1,651,000. Ashton Thomas Private Wealth LLC increased its stake in shares of Uber Technologies by 2.6% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 46,138 shares of the ride-sharing company’s stock worth $3,552,000 after purchasing an additional 1,171 shares during the last quarter. Consolidated Portfolio Review Corp bought a new stake in shares of Uber Technologies in the 1st quarter valued at about $2,883,000. Worth Financial Advisory Group LLC lifted its stake in Uber Technologies by 18.4% in the 1st quarter. Worth Financial Advisory Group LLC now owns 17,930 shares of the ride-sharing company’s stock valued at $1,380,000 after purchasing an additional 2,790 shares during the last quarter. Finally, Mission Wealth Management LP acquired a new position in Uber Technologies during the first quarter worth approximately $2,441,000. Institutional investors and hedge funds 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.