Wedbush Maintains Uber Technologies (UBER) Outperform Recommendation

Fintel reports that on July 27, 2023, Wedbush maintained coverage of Uber Technologies (NYSE:UBER) with a Outperform recommendation.

Analyst Price Forecast Suggests 9.38% Upside

As of July 6, 2023, the average one-year price target for Uber Technologies is 51.75. The forecasts range from a low of 32.82 to a high of $78.75. The average price target represents an increase of 9.38% from its latest reported closing price of 47.31.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Uber Technologies is 37,554MM, an increase of 10.96%. The projected annual non-GAAP EPS is -0.23.

• For more in-depth coverage of Uber Technologies, view the free, crowd-sourced company research report on Finpedia.

What is the Fund Sentiment?

There are 1929 funds or institutions reporting positions in Uber Technologies. This is an increase of 144 owner(s) or 8.07% in the last quarter. Average portfolio weight of all funds dedicated to UBER is 0.77%, an increase of 10.59%. Total shares owned by institutions increased in the last three months by 3.29% to 1,743,229K shares. The put/call ratio of UBER is 0.85, 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:

• CLAWBACK POLICY (As amended and restated effective October 2, 2023)
• AMENDED AND RESTATED 2019 EXECUTIVE SEVERANCE PLAN (As amended and restated June 28, 2023)
• Uber Technologies, Inc. 1515 Third Street San Francisco, CA 94158 June 28, 2023 EMPLOYMENT AGREEMENT (As amended and restated June 28, 2023)
• Uber Announces Results for First Quarter 2023 Gross Bookings grew 19% year-over-year and 22% year-over-year on a constant currency basis Mobility and Delivery Adjusted EBITDA margins at all-time quarterly highs Operating cash flow of $606 million; Re
• Amendment No. 4 to Term Loan Agreement, dated March 14, 2023, by and among Uber Technologies, Inc. as borrower, Rasier, LLC as subsidiary guarantor, the lenders party thereto and Morgan Stanley Senior Funding Inc., as administrative agent for the lenders.

This story originally appeared on Fintel.

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