Benchmark Begins Coverage of Uber Technologies with a Hold Rating
On October 25, 2024, Fintel reported that Benchmark has started monitoring Uber Technologies (XTRA:UT8) and has assigned a Hold rating to its shares.
Analysts Project a 15.62% Price Increase
The average price target for Uber Technologies, as of October 22, 2024, stands at 83.31 €/share. Projections vary, with a low estimate of 61.25 € and a high of 109.99 €. This target indicates a potential growth of 15.62% from the stock’s most recent closing price of 72.05 € per share.
Positive Revenue Forecasts
Uber Technologies expects an annual revenue of 44,644 million €, reflecting an increase of 11.45%. Moreover, the anticipated non-GAAP earnings per share (EPS) is 0.65.
Institutional Investment Trends
Currently, 2,942 funds or institutions have reported holdings in Uber Technologies, marking an increase of 72 holders, or 2.51%, in just the last quarter. The average portfolio weight of funds invested in UT8 is 0.65%, which has increased by 10.14%. Over the past three months, total institutional shares owned have risen by 2.25% to reach 2,014,372K shares.
The Public Investment Fund retains 72,841K shares, accounting for 3.47% ownership, with no changes reported in the last quarter.
JPMorgan Chase holds 71,838K shares, representing a 3.42% stake. This is an increase from 70,286K shares previously, marking a growth of 2.16%. However, the firm has reduced its overall allocation in UT8 by 6.30% compared to the last quarter.
The Vanguard Total Stock Market Index Fund Investor Shares has 62,727K shares, equating to 2.99% ownership, which is an increase from 62,010K shares reported earlier—up by 1.14%. Nonetheless, it has decreased its ownership allocation in UT8 by 7.14% in the past quarter.
Vanguard 500 Index Fund Investor Shares currently holds 53,629K shares, or 2.55% of the company. This is an increase from last quarter’s 51,859K shares, calculated at a 3.30% rise, despite a decrease in its holding percentage by 7.59% in the same timeframe.
Lastly, Capital Research Global Investors significantly raised its stake, now owning 53,030K shares (2.52%), up 24.67% from the prior 39,948K shares. They also increased their portfolio allocation in UT8 by 21.53% over the last quarter.
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This article originally appeared on Fintel.
The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
