Uber Technologies, Inc. (NYSE: UBER) experienced a notable increase in its stock price, rising by 2.7% on Thursday. The stock reached a high of $76.10 before closing at $74.76. During mid-day trading, approximately 22,327,129 shares exchanged hands, marking a 1% increase from the average daily volume of 22,070,326 shares. The stock had previously closed at $72.83.
Analyst Ratings and Predictions
Recent evaluations from various research analysts have provided mixed signals regarding Uber’s stock. Arete Research set a price target of $125.00 and rated the stock as a “buy” in a report released on December 3, 2024. In contrast, Wall Street Zen downgraded Uber from a “buy” to a “hold” rating on January 17, 2024.
Other analysts have also weighed in, with UBS Group setting a price target of $111.00 on February 2, 2024, while Guggenheim adjusted their price objective from $135.00 to $125.00 the following week, maintaining a “buy” rating. Furthermore, BNP Paribas Exane initiated coverage with an “outperform” rating and a target of $108.00.
Currently, one analyst has assigned a “Strong Buy” rating, thirty-three analysts have rated the stock as a “Buy,” six as a “Hold,” and one as a “Sell.” According to data from MarketBeat.com, the consensus rating for Uber is “Moderate Buy,” with an average price target of $104.53.
Financial Performance and Insider Transactions
Uber Technologies reported its quarterly earnings on February 4, 2024, revealing a $0.71 earnings per share (EPS), which fell short of analysts’ expectations of $0.79 EPS by $0.08. The company generated $14.37 billion in revenue during the quarter, slightly exceeding forecasts of $14.32 billion. Notably, Uber’s revenue grew 20.1% compared to the same quarter last year, although the EPS figure was lower than the $3.21 posted in the same period last year.
Uber has set its guidance for the first quarter of 2026 at an EPS range of $0.650 to $0.720. Analysts predict that the company will achieve an EPS of 2.54 for the current year.
In terms of insider trading, Tony West, an executive at Uber, sold 3,125 shares on January 20, 2024, at an average price of $83.50 per share, totaling approximately $260,937.50. Following this transaction, West retained 176,584 shares valued at about $14.74 million. In contrast, Balaji (A) Krishnamurthy, the Chief Financial Officer, purchased 22,453 shares on February 24, 2024, at an average price of $71.25, amounting to $1.60 million. This acquisition increased his holdings to 28,742 shares worth approximately $2.05 million.
Institutional Investor Activity
Recent activity among institutional investors indicates a growing interest in Uber Technologies. Several firms have established new positions in the company, including Measured Wealth Private Client Group LLC, which acquired shares valued at around $25,000 during the third quarter. Other notable purchases include Westend Capital Management LLC and Kilter Group LLC, each investing approximately $27,000 and $26,000, respectively.
Currently, institutional investors hold 80.24% of Uber’s stock, reflecting a significant confidence in the company’s future prospects.
Uber Technologies, founded in 2009 and headquartered in San Francisco, has established itself as a leader in the ride-hailing market. The company has expanded its services to include delivery through Uber Eats and freight logistics via Uber Freight. Following its initial public offering in 2019, Uber continues to develop its app-based platform, positioning itself as a versatile solution in the transportation and delivery sectors.
As the market continues to respond to recent developments, investors will be keen to monitor Uber’s performance and the implications of analyst ratings on stock value.
