For Uber Technologies Inc. [UBER], Analyst sees a rise to $38. What next?

Uber Technologies Inc. [NYSE: UBER] traded at a low on 10/14/22, posting a -1.16 loss after which it closed the day’ session at $24.71. The company report on October 16, 2022 that Uber Eats and Leafly partner to bring cannabis delivery to Torontonians.


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Starting tomorrow, Monday, October 17, Torontonians can order safe, legal cannabis and get it delivered straight to their homes thanks to a partnership between Uber Eats (NYSE: UBER), a global leader in ecommerce and delivery technology, and Leafly (NASDAQ: LFLY), a leading online cannabis marketplace and information resource. Torontonians 19+ can place orders from local licensed cannabis retailers in the Uber Eats app, and have it delivered to their door by the retailer’s CannSell certified staff. This is the first time cannabis delivery will be available on a major third-party delivery platform in the world.

The first cannabis delivery partnership on a major third-party delivery platform in the world.

The results of the trading session contributed to over 22510114 shares changing hands. Over the past one week, the price volatility of Uber Technologies Inc. stands at 7.53% while the volatility over the past one month is 5.21%.

The market cap for UBER stock reached $49.50 billion, with 1.98 billion shares outstanding and 1.97 billion shares in the current float. Compared to the average trading volume of 28.49M shares, UBER reached a trading volume of 22510114 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Uber Technologies Inc. [UBER]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for UBER shares is $46.55 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on UBER stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Raymond James have made an estimate for Uber Technologies Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on August 03, 2022. While these analysts kept the previous recommendation, KeyBanc Capital Markets raised their target price to Sector Weight. The new note on the price target was released on July 13, 2022, representing the official price target for Uber Technologies Inc. stock. Previously, the target price had yet another raise to $38, while Wedbush analysts kept a Outperform rating on UBER stock. On May 24, 2022, analysts decreased their price target for UBER shares from 45 to 35.

The Average True Range (ATR) for Uber Technologies Inc. is set at 1.70, with the Price to Sales ratio for UBER stock in the period of the last 12 months amounting to 1.94. The Price to Book ratio for the last quarter was 7.29. Price to Free Cash Flow for UBER in the course of the last twelve months was 73.66 with Quick ratio for the last quarter at 1.00.

How has UBER stock performed recently?

Uber Technologies Inc. [UBER] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.97. With this latest performance, UBER shares dropped by -25.42% in over the last four-week period, additionally sinking by -24.39% over the last 6 months – not to mention a drop of -47.74% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for UBER stock in for the last two-week period is set at 37.07, with the RSI for the last a single of trading hit 33.79, and the three-weeks RSI is set at 40.16 for Uber Technologies Inc. [UBER]. The present Moving Average for the last 50 days of trading for this stock 29.47, while it was recorded at 25.58 for the last single week of trading, and 29.99 for the last 200 days.

Uber Technologies Inc. [UBER]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Uber Technologies Inc. [UBER] shares currently have an operating margin of -21.74 and a Gross Margin at +31.92. Uber Technologies Inc.’s Net Margin is presently recorded at -2.84.

Return on Equity for this stock declined to -3.71, with Return on Assets sitting at -1.38.

Uber Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.

Earnings analysis for Uber Technologies Inc. [UBER]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for UBER. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Uber Technologies Inc. go to 22.75%.

Insider trade positions for Uber Technologies Inc. [UBER]

There are presently around $35,600 million, or 74.30% of UBER stock, in the hands of institutional investors. The top three institutional holders of UBER stocks are: MORGAN STANLEY with ownership of 165,362,397, which is approximately 29.898% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 104,388,489 shares of the stock with an approximate value of $2.58 billion in UBER stocks shares; and FMR LLC, currently with $1.96 billion in UBER stock with ownership of nearly -1.856% of the company’s market capitalization.

Positions in Uber Technologies Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 571 institutional holders increased their position in Uber Technologies Inc. [NYSE:UBER] by around 192,380,640 shares. Additionally, 538 investors decreased positions by around 166,128,569 shares, while 152 investors held positions by with 1,082,208,533 shares. The mentioned changes placed institutional holdings at 1,440,717,742 shares, according to the latest SEC report filing. UBER stock had 104 new institutional investments in for a total of 16,448,472 shares, while 212 institutional investors sold positions of 35,228,316 shares during the same period.

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