Cantor Fitzgerald Forecasts Strong Price Appreciation for Uber Technologies (NYSE:UBER) Stock

Uber Technologies (NYSE:UBER) had its price target boosted by equities researchers at Cantor Fitzgerald from $75.00 to $80.00 in a research note issued to 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 current price. Cantor Fitzgerald also issued estimates for Uber Technologies’ FY2024 earnings at $1.87 EPS and FY2025 earnings at $2.32 EPS.

Other analysts have also issued research reports about the company. Truist Financial cut their price objective on Uber Technologies from $99.00 to $95.00 and set a “buy” rating for the company in a report on Friday, November 1st. Jefferies Financial Group upped their price target on shares of Uber Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Citizens Jmp downgraded shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Bank of America upped their target price 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. Finally, Loop Capital lifted their price target on shares of Uber Technologies from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Uber Technologies has an average rating of “Moderate Buy” and a consensus target price of $91.08.

Uber Technologies Stock Performance

Shares of UBER opened at $66.72 on Tuesday. Uber Technologies has a 12 month low of $54.84 and a 12 month high of $87.00. The business’s fifty day simple moving average is $65.83 and its two-hundred day simple moving average is $70.19. 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 company has a market cap of $140.50 billion, a price-to-earnings ratio of 33.20, a P/E/G ratio of 0.77 and a beta of 1.36.

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

Insider Buying and Selling

In related news, insider Jill Hazelbaker sold 27,780 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $72.90, for a total transaction 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. This trade represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of UBER. Hemington Wealth Management lifted its stake in shares of Uber Technologies by 14.8% in the 4th quarter. Hemington Wealth Management now owns 1,740 shares of the ride-sharing company’s stock valued at $104,000 after purchasing an additional 224 shares during the period. MFG Wealth Management Inc. purchased a new position in Uber Technologies in the fourth quarter valued at $1,997,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Uber Technologies in the fourth quarter worth about $114,000. Van ECK Associates Corp boosted its stake in shares of Uber Technologies by 228.0% during the 4th quarter. Van ECK Associates Corp now owns 14,910 shares of the ride-sharing company’s stock worth $899,000 after acquiring an additional 10,364 shares in the last quarter. Finally, Avion Wealth grew its position in shares of Uber Technologies by 96.0% during the 4th 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 period. 80.24% of the stock is owned by institutional investors and hedge funds.

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.