Fintel reports that on August 2, 2023, Morgan Stanley reiterated coverage of Uber Technologies (NYSE:UBER) with a Overweight recommendation.
Analyst Price Forecast Suggests 14.97% Upside
As of August 2, 2023, the average one-year price target for Uber Technologies is 53.99. The forecasts range from a low of 32.82 to a high of $78.75. The average price target represents an increase of 14.97% from its latest reported closing price of 46.96.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Uber Technologies is 37,554MM, an increase of 7.29%. The projected annual non-GAAP EPS is -0.23.
What is the Fund Sentiment?
There are 1946 funds or institutions reporting positions in Uber Technologies. This is an increase of 155 owner(s) or 8.65% in the last quarter. Average portfolio weight of all funds dedicated to UBER is 0.76%, an increase of 6.64%. Total shares owned by institutions increased in the last three months by 3.01% to 1,739,399K shares. 
The put/call ratio of UBER is 0.83, indicating a bullish outlook.
What are Other Shareholders Doing?
Jpmorgan Chase holds 83,318K shares representing 4.12% ownership of the company. In it's prior filing, the firm reported owning 51,796K shares, representing an increase of 37.83%. The firm increased its portfolio allocation in UBER by 90.54% over the last quarter.
Public Investment Fund holds 72,841K shares representing 3.60% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 59,123K shares representing 2.92% ownership of the company. In it's prior filing, the firm reported owning 57,615K shares, representing an increase of 2.55%. The firm increased its portfolio allocation in UBER by 21.46% over the last quarter.
Jennison Associates holds 46,082K shares representing 2.28% ownership of the company. In it's prior filing, the firm reported owning 47,001K shares, representing a decrease of 1.99%. The firm increased its portfolio allocation in UBER by 13.75% over the last quarter.
Capital World Investors holds 44,191K shares representing 2.18% ownership of the company. In it's prior filing, the firm reported owning 40,945K shares, representing an increase of 7.35%. The firm increased its portfolio allocation in UBER by 34.15% over the last quarter.
Uber Technologies Background Information
(This description is provided by the company.)
Uber's mission is to create opportunity through movement. The company started in 2010 to solve a simple problem: how do you get access to a ride at the touch of a button? More than 15 billion trips later, Uber is building products to get people closer to where they want to be. By changing how people, food, and things move through cities, Uber is a platform that opens up the world to new possibilities.
Additional reading:
- Second Amendment to the Google Maps Master Agreement - Platform Rides and Deliveries Solution Service Schedule, dated June 15, 2023, among Google LLC and the Registrant.
- Supplemental Indenture, dated September 6, 2019, among the Registrant, Rasier, LLC and U.S. Bank National Association, as trustee, relating to the Registrant’s 8.00% Senior Notes due 2026.
- Supplemental Indenture, dated June 2, 2023, among the Registrant, Uber International Holding Corporation and U.S. Bank Trust Company, National Association (as successor to U.S. Bank National Association), as trustee, relating to the Registrant’s 7.50% Senior Notes due 2025.
- Supplemental Indenture, dated June 2, 2023, among the Registrant, Uber International Holding Corporation and U.S. Bank Trust Company, National Association (as successor to U.S. Bank National Association), as trustee, relating to the Registrant’s 8.00% Senior Notes due 2026.
- Supplemental Indenture, dated June 2, 2023, among the Registrant, Uber International Holding Corporation and U.S. Bank Trust Company, National Association (as successor to U.S. Bank National Association), as trustee, relating to the Registrant’s 7.50% Senior Notes due 2027.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
