The future looks bright for Uber Technologies (NYSE:UBER) as the new average one-year price target soars to $86.97 per share, marking a significant 27.11% climb from the previous estimate of $68.42 back in January 16, 2024.
The price target, a collective analysis of numerous expert forecasts, now ranges from a low of $65.65 to an impressive high of $105.00 per share. This uptick represents an 11.45% increase from the most recent closing price of $78.03 per share.
Market Sentiment Overview
With a noticeable increase of 221 owners or 10.24% in the last quarter, a total of 2,379 funds or institutions are reporting positions in Uber Technologies. The average portfolio weight allocated to UBER by all funds sits at 0.76%, depicting a modest decrease of 8.08%. Moreover, institutional ownership has seen an 8.63% surge in the last three months, totaling 1,997,842K shares. 
The current put/call ratio for UBER stands at 0.87, signaling an optimistic market outlook.
Institutional Holdings Overview
Exciting news from institutions like Jpmorgan Chase, with 86,060K shares constituting 4.14% of ownership. The recent filing showed a decrease from 88,045K shares, reflecting a 2.31% reduction. However, the firm’s portfolio allocation for UBER grew by 13.96% in the previous quarter.
Other noteworthy shareholders include Public Investment Fund, holding 72,841K shares (3.51% ownership) with no changes in the last quarter, and VTSMX – Vanguard Total Stock Market Index Fund Investor Shares, owning 60,433K shares (2.91% ownership). The Vanguard Fund boosted its UBER holding by 0.76%, showcasing an 11.42% increase in portfolio allocation over the previous quarter.
The detailed picture includes Wellington Management Group Llp holding 46,526K shares (2.24% ownership) with an 18.27% decline from the prior filing. On the contrary, AGTHX – GROWTH FUND OF AMERICA, possessing 45,068K shares (2.17% ownership), witnessed a robust 16.24% increase in their UBER holding. This fund raised its portfolio allocation for UBER by an impressive 41.23% in the last quarter.
Insight into Uber Technologies
(Provided by the company itself.)
Since its inception in 2010, Uber’s innovative mission to revolutionize mobility stands out. Commencing with a simple quest to provide convenient ride-hailing services, Uber has now completed over 15 billion trips. With a focus on enhancing urban transportation for people, goods, and services, Uber continues to shape a world of endless possibilities.
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The opinions articulated herein belong to the author and do not necessarily align with those of Nasdaq, Inc.
