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

Uber Technologies, Inc. (NYSE:UBER) – Research analysts at Wedbush boosted their Q3 2024 EPS estimates for Uber Technologies in a research report issued on Tuesday, October 29th. Wedbush analyst S. Devitt now expects that the ride-sharing company will earn $0.34 per share for the quarter, up from their previous estimate 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.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. The firm had revenue of $11.19 billion during the quarter, compared to analysts’ expectations of $10.99 billion. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The business’s revenue was up 20.4% on a year-over-year basis. During the same period last year, the firm posted $0.10 EPS.

A number of other equities research analysts have also commented on UBER. JMP Securities increased their price objective on shares of Uber Technologies from $80.00 to $95.00 and gave the stock a “market outperform” rating in a report on Friday. Roth Mkm increased their price target on shares of Uber Technologies from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Raymond James started coverage on shares of Uber Technologies in a research report on Tuesday, September 24th. They issued a “strong-buy” rating and a $90.00 price objective for the company. Evercore ISI increased their price objective on Uber Technologies from $90.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Morgan Stanley boosted their target price on Uber Technologies from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Six equities research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Uber Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $90.22.

Uber Technologies Stock Performance

Shares of NYSE:UBER opened at $73.25 on Thursday. The business has a fifty day moving average of $75.36 and a 200-day moving average of $70.88. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.21 and a current ratio of 1.21. Uber Technologies has a twelve month low of $45.25 and a twelve month high of $87.00. The firm has a market cap of $153.89 billion, a PE ratio of 80.49, a price-to-earnings-growth ratio of 1.36 and a beta of 1.33.

Insider Buying and Selling

In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of Uber Technologies stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $72.00, for a total value of $2,880,000.00. Following the transaction, the insider now owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.84% of the stock is owned by company insiders.

Institutional Trading of Uber Technologies

A number of institutional investors have recently modified their holdings of UBER. CENTRAL TRUST Co lifted its position in Uber Technologies by 12.3% during the 3rd quarter. CENTRAL TRUST Co now owns 1,160 shares of the ride-sharing company’s stock worth $87,000 after buying an additional 127 shares in the last quarter. Procyon Advisors LLC increased its stake in shares of Uber Technologies by 2.1% during the 3rd quarter. Procyon Advisors LLC now owns 6,326 shares of the ride-sharing company’s stock worth $476,000 after purchasing an additional 131 shares during the last quarter. DT Investment Partners LLC raised its holdings in shares of Uber Technologies by 21.4% in the 3rd quarter. DT Investment Partners LLC now owns 821 shares of the ride-sharing company’s stock valued at $62,000 after purchasing an additional 145 shares during the period. Jmac Enterprises LLC lifted its stake in Uber Technologies by 2.1% in the 3rd quarter. Jmac Enterprises LLC now owns 7,340 shares of the ride-sharing company’s stock valued at $552,000 after purchasing an additional 150 shares during the last quarter. Finally, Wealthspire Advisors LLC grew its holdings in Uber Technologies by 0.6% during the second quarter. Wealthspire Advisors LLC now owns 24,893 shares of the ride-sharing company’s stock worth $1,809,000 after purchasing an additional 151 shares during the period. 80.24% of the stock is currently owned by institutional investors.

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.