Uber Technologies, Inc. (NYSE:UBER – Get Rating) – William Blair lifted their Q2 2023 earnings estimates for Uber Technologies in a research report issued to clients and investors on Tuesday, August 2nd. William Blair analyst R. Schackart now expects that the ride-sharing company will earn $0.03 per share for the quarter, up from their previous forecast of $0.02. The consensus estimate for Uber Technologies’ current full-year earnings is ($3.57) per share. William Blair also issued estimates for Uber Technologies’ Q3 2023 earnings at $0.07 EPS and FY2023 earnings at $0.22 EPS.
UBER has been the subject of several other research reports. Mizuho decreased their target price on shares of Uber Technologies from $58.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday. The Goldman Sachs Group decreased their target price on shares of Uber Technologies from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, June 9th. Citigroup decreased their target price on shares of Uber Technologies from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, July 14th. MKM Partners decreased their target price on shares of Uber Technologies from $41.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, July 27th. Finally, Wedbush reiterated an “outperform” rating and issued a $38.00 price objective on shares of Uber Technologies in a report on Wednesday, June 29th. One investment analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.63.
Uber Technologies Price Performance
Uber Technologies (NYSE:UBER – Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The ride-sharing company reported ($1.33) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($1.08). Uber Technologies had a negative return on equity of 62.32% and a negative net margin of 39.39%. The business had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.37 billion. During the same quarter last year, the company earned $0.58 EPS. Uber Technologies’s revenue was up 105.6% compared to the same quarter last year.
Institutional Investors Weigh In On Uber Technologies
Hedge funds and other institutional investors have recently made changes to their positions in the company. Yousif Capital Management LLC acquired a new stake in Uber Technologies in the fourth quarter valued at approximately $987,000. D.A. Davidson & CO. raised its holdings in Uber Technologies by 5.4% during the fourth quarter. D.A. Davidson & CO. now owns 17,258 shares of the ride-sharing company’s stock valued at $724,000 after buying an additional 887 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Uber Technologies by 8.0% in the fourth quarter. Quadrant Capital Group LLC now owns 4,656 shares of the ride-sharing company’s stock worth $195,000 after buying an additional 346 shares during the last quarter. FDx Advisors Inc. increased its holdings in shares of Uber Technologies by 29.7% during the 4th quarter. FDx Advisors Inc. now owns 14,697 shares of the ride-sharing company’s stock valued at $616,000 after acquiring an additional 3,365 shares during the last quarter. Finally, Dixon Hughes Goodman Wealth Advisors LLC bought a new position in shares of Uber Technologies in the 4th quarter valued at approximately $27,000. 72.58% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Uber Technologies
In other news, insider Tony West sold 87,841 shares of the stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $31.26, for a total value of $2,745,909.66. Following the completion of the sale, the insider now directly owns 141,944 shares of the company’s stock, valued at $4,437,169.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.06% 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 the Asia Pacific. It connects consumers with independent providers of ride services for ridesharing services; and connects riders and other consumers with restaurants, grocers, and other stores with delivery service providers for meal preparation, grocery, and other delivery services.
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