In a notable development, Uber Technologies (UBER) experienced a surge of more than 4.10% in the trading session on July 18. Starting at $47.38, the stock dipped briefly before reaching a high of $47.70, ultimately closing at $47.41. The intraday trading volume reached 708.761k, indicating a strong market interest.
Week Performance and Market Capitalization
Analyzing the monthly time frame, UBER stock has seen a steady rise of over 10%. Furthermore, over the course of a year, its prices have soared by an impressive 113.85%. The current annual price of Uber Tech stock stands at $49.69, which is approximately 9.04% higher than the present trading prices.
Over the past 52 weeks, UBER stock witnessed a low trading price of $22.14 and a high of $49.69. As for market capitalization, Uber Technologies Inc. holds a value of $95.95 billion, with an average trading volume of 22.634 million shares.
According to STA Research, 1.931 billion UBER shares are freely floating, while the remaining 92.849 million shares are closely held by either the company’s financial backers or its board of directors.
Mixed Financial Performance in 2022
In the financial year 2022, Uber Technologies Inc.’s revenue to profit conversion revealed that gross profit accounted for 29% of total revenue, while Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) and Earnings before interest and taxes (EBIT) amounted to 0% and -3% of gross profit, respectively. The net income showed a negative value of -29%.
Potential Upside and Analyst Expectations
Upon assessing the technical aspects of UBER stock. It becomes evident that a 10% further increase in prices is possible if the momentum is sustained, potentially driving the prices to $52.
Additionally, if Uber Technologies Inc. surpasses the analysts’ estimated revenue for Q2 2023, the stock may experience a significant surge following the earnings release. The stock has a strong support level at $37, with immediate support at $40.
Impressive Q1 2023 Performance
During Q1 2023, Uber Technologies Inc. impressed investors and shareholders by reporting a revenue that exceeded estimated figures by 1.38%. The estimated revenue for the quarter was $8.70 billion, while the company reported $8.82 billion.
Moreover, the company’s Earnings Per Share (EPS) surpassed expectations by rising over 7.25%. The estimated EPS for Q1 2023 was -$0.09. Moving forward, the estimated revenue for Q2 and Q3 2023 stands at $9.34 billion and $9.51 billion, respectively.
UBER Stock Analysis and Forecast
Based on the analysis of 34 analysts, the average target price for Uber Technologies Inc. over the next 12 months is projected to be $49.69. The stock has garnered an average analyst rating of “Strong Buy”. STA Research analysis of Uber Technologies Inc. indicates a bearish outlook, considering 2 positive signals and 6 negative signals. The closing stock price on the last trading day was $47.41. Over the past week, the stock price has increased by +6.88%, while the gains over the past month and year amount to +8.94% and +109.96%, respectively.
