Gordon Haskett Upgrades Uber Technologies to “Buy”: Analysts Expect Price Surge
Fintel reports that on October 31, 2024, Gordon Haskett upgraded their outlook for Uber Technologies (XTRA:UT8) from Hold to Buy.
Analyst Price Forecast Indicates Potential Growth
As of October 22, 2024, the average one-year price target for Uber Technologies stands at 83,31 €/share. Predictions vary from a low of 61,25 € to a high of 109,99 €. This average target reflects an anticipated increase of 13.39% compared to its recent closing price of 73,47 € per share.
Check out our list of companies expected to see the largest price target growth.
Projected Revenue and Earnings
The annual revenue for Uber Technologies is projected at 44,644MM, marking an increase of 6.41%. Additionally, the projected annual non-GAAP EPS is 0.65.
Current Fund Sentiment
Uber Technologies currently has 2,948 funds or institutions reporting ownership. This reflects an increase of 68 owners, or 2.36%, in the past quarter. The average portfolio weight dedicated to UT8 across all funds is 0.65%, up by 7.71%. Over the last three months, total institutional shares owned grew by 8.77% to 2,026,306K shares.
The Public Investment Fund holds 72,841K shares, representing 3.47% ownership of the company, remaining unchanged in the last quarter.
JPMorgan Chase holds 71,838K shares, or 3.42% ownership, and showed an increase from 70,286K shares, an uptick of 2.16%. However, the firm reduced its portfolio allocation in UT8 by 6.30% over the past quarter.
Vanguard Total Stock Market Index Fund Investor Shares (VTSMX) has 62,727K shares, which accounts for 2.99% ownership. Their previous report indicated ownership of 62,010K shares, indicating a growth of 1.14%, though the fund decreased its stake in UT8 by 7.14% recently.
Vanguard 500 Index Fund Investor Shares (VFINX) now holds 53,629K shares (2.55% ownership), an increase from 51,859K shares, reflecting a growth of 3.30%. Nonetheless, their allocation in UT8 also decreased by 7.59% in the last quarter.
Capital Research Global Investors shows significant growth, with 53,030K shares representing 2.52% ownership. Their prior report indicated holdings of 39,948K shares, leading to a notable jump of 24.67%. The firm’s allocation in UT8 rose by 21.53% over the last quarter.
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This story originally appeared on Fintel.
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