Uber Technologies, Inc. (NYSE:UBER) Forecasted to Earn Q2 2024 Earnings of $0.31 Per Share

Uber Technologies, Inc. (NYSE:UBER - Free Report) - Equities researchers at Seaport Res Ptn raised their Q2 2024 earnings estimates for shares of Uber Technologies in a research report issued on Wednesday, May 8th. Seaport Res Ptn analyst A. Kessler now expects that the ride-sharing company will post earnings per share of $0.31 for the quarter, up from their previous estimate of $0.30. The consensus estimate for Uber Technologies' current full-year earnings is $1.23 per share. Seaport Res Ptn also issued estimates for Uber Technologies' Q4 2024 earnings at $0.41 EPS and FY2025 earnings at $2.08 EPS.

Uber Technologies (NYSE:UBER - Get Free Report) last released its earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.53). Uber Technologies had a net margin of 5.06% and a return on equity of 18.95%. The business had revenue of $10.13 billion for the quarter, compared to analysts' expectations of $10.09 billion. During the same quarter in the previous year, the business posted ($0.08) earnings per share. Uber Technologies's revenue for the quarter was up 14.8% on a year-over-year basis.

Several other equities analysts have also recently issued reports on UBER. Mizuho upped their target price on shares of Uber Technologies from $77.00 to $83.00 and gave the company a "buy" rating in a research note on Thursday, February 8th. JPMorgan Chase & Co. raised their target price on shares of Uber Technologies from $84.00 to $95.00 and gave the company an "overweight" rating in a report on Thursday, February 15th. BMO Capital Markets raised their price objective on Uber Technologies from $82.00 to $92.00 and gave the company an "outperform" rating in a research note on Thursday, February 15th. Moffett Nathanson reaffirmed a "buy" rating and set a $92.00 price target on shares of Uber Technologies in a research note on Thursday, April 11th. Finally, Truist Financial increased their target price on Uber Technologies from $90.00 to $94.00 and gave the stock a "buy" rating in a research note on Wednesday, March 27th. Two analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $83.75.

Uber Technologies Stock Down 1.4 %

Shares of NYSE:UBER traded down $0.96 on Friday, hitting $66.97. 18,915,052 shares of the company traded hands, compared to its average volume of 18,645,498. The company has a market cap of $139.39 billion, a PE ratio of 77.87, a PEG ratio of 1.13 and a beta of 1.39. The stock has a 50 day simple moving average of $74.29 and a 200-day simple moving average of $66.01. Uber Technologies has a 52 week low of $37.07 and a 52 week high of $82.14. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.79.

Insider Buying and Selling at Uber Technologies

In related news, insider Tony West sold 18,750 shares of the business's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $70.08, for a total transaction of $1,314,000.00. Following the completion of the transaction, the insider now directly owns 185,566 shares in the company, valued at $13,004,465.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Jill Hazelbaker sold 20,000 shares of the firm's stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $77.83, for a total transaction of $1,556,600.00. Following the sale, the insider now owns 107,290 shares in the company, valued at $8,350,380.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Tony West sold 18,750 shares of the company's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $70.08, for a total transaction of $1,314,000.00. Following the completion of the transaction, the insider now owns 185,566 shares of the company's stock, valued at approximately $13,004,465.28. The disclosure for this sale can be found here. Company insiders own 3.80% of the company's stock.

Hedge Funds Weigh In On Uber Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. OFI Invest Asset Management acquired a new position in shares of Uber Technologies during the 3rd quarter worth approximately $26,000. Ritter Daniher Financial Advisory LLC DE raised its position in Uber Technologies by 2,545.5% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 582 shares of the ride-sharing company's stock worth $27,000 after acquiring an additional 560 shares during the period. Financial Management Professionals Inc. lifted its holdings in Uber Technologies by 111.6% during the first quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company's stock valued at $29,000 after purchasing an additional 202 shares in the last quarter. JFS Wealth Advisors LLC grew its position in shares of Uber Technologies by 319.4% in the third quarter. JFS Wealth Advisors LLC now owns 650 shares of the ride-sharing company's stock valued at $30,000 after purchasing an additional 495 shares during the period. Finally, CVA Family Office LLC purchased a new stake in shares of Uber Technologies during the fourth quarter worth about $30,000. Hedge funds and other institutional investors 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.