Market Analysts see Uber Technologies Inc. [UBER] gaining to $38. Time to buy?

Uber Technologies Inc. [NYSE: UBER] gained 1.04% or 0.3 points to close at $29.15 with a heavy trading volume of 35817516 shares. The company report on November 9, 2022 that Uber and Grocery Outlet Expand On-Demand Grocery Delivery Nationally.

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National expansion includes 386 Grocery Outlet locations across seven states.

Today Uber Technologies, Inc. (NYSE: UBER) and Grocery Outlet Holding Corp (NASDAQ GS: GO) announced the expansion of their partnership, extending on-demand and scheduled grocery delivery across the country.

It opened the trading session at $28.95, the shares rose to $30.435 and dropped to $28.70, the range by which the price of stock traded the whole day. The daily chart for UBER points out that the company has recorded 19.52% gains over the past six months. However, it is still -46.48% lower than its most recent low trading price.

If we look at the average trading volume of 26.18M shares, UBER reached to a volume of 35817516 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $46.13 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 1.75, with the Price to Sales ratio for UBER stock in the period of the last 12 months amounting to 1.98. The Price to Book ratio for the last quarter was 9.22. Price to Free Cash Flow for UBER in the course of the last twelve months was 113.71 with Quick ratio for the last quarter at 1.00.

Trading performance analysis for UBER stock

Uber Technologies Inc. [UBER] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.68. With this latest performance, UBER shares gained by 16.60% in over the last four-week period, additionally plugging by 19.52% over the last 6 months – not to mention a drop of -32.65% 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 55.27, with the RSI for the last a single of trading hit 58.35, and the three-weeks RSI is set at 53.54 for Uber Technologies Inc. [UBER]. The present Moving Average for the last 50 days of trading for this stock 28.54, while it was recorded at 27.94 for the last single week of trading, and 28.77 for the last 200 days.

Uber Technologies Inc. [UBER]: A deeper dive into fundamental analysis

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.

Uber Technologies Inc. [UBER]: An earnings per share (EPS) analysis

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 23.17%.

An analysis of insider ownership at Uber Technologies Inc. [UBER]

There are presently around $42,123 million, or 73.60% 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 0.10% of the total institutional ownership; FMR LLC, holding 107,683,296 shares of the stock with an approximate value of $3.14 billion in UBER stocks shares; and VANGUARD GROUP INC, currently with $3.04 billion in UBER stock with ownership of nearly 16.288% 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 540 institutional holders increased their position in Uber Technologies Inc. [NYSE:UBER] by around 207,728,657 shares. Additionally, 530 investors decreased positions by around 180,910,350 shares, while 158 investors held positions by with 1,056,393,201 shares. The mentioned changes placed institutional holdings at 1,445,032,208 shares, according to the latest SEC report filing. UBER stock had 132 new institutional investments in for a total of 21,897,567 shares, while 163 institutional investors sold positions of 33,928,312 shares during the same period.


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