Investing

MoffettNathanson Initiates Coverage of Uber Technologies With Outperform

Fintel Staff

Published: January 31, 2023 3:17 am

Last Updated: January 31, 2023 12:19 pm

On January 30, 2023, MoffettNathanson initiated coverage of Uber Technologies with a Outperform recommendation.

Analyst Price Forecast Suggests 58.07% Upside

As of January 31, 2023, the average one-year price target for Uber Technologies is $46.84. The forecasts range from a low of $26.26 to a high of $78.75. The average price target represents an increase of 58.07% from its latest reported closing price of $29.63.

The projected annual revenue for Uber Technologies is $37,554MM, an increase of 29.28%. The projected annual EPS is $-0.23.

What are large shareholders doing?

Public Investment Fund holds 72,840,541 shares representing 3.65% ownership of the company. No change in the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 53,139,731 shares representing 2.66% ownership of the company. In it’s prior filing, the firm reported owning 52,037,916 shares, representing an increase of 2.07%. The firm increased its portfolio allocation in UBER by 37.87% over the last quarter.

Jennison Associates holds 47,898,025 shares representing 2.40% ownership of the company. In it’s prior filing, the firm reported owning 44,220,226 shares, representing an increase of 7.68%. The firm increased its portfolio allocation in UBER by 39.78% over the last quarter.

Jpmorgan Chase & holds 43,131,544 shares representing 2.16% ownership of the company. In it’s prior filing, the firm reported owning 33,043,996 shares, representing an increase of 23.39%. The firm increased its portfolio allocation in UBER by 74.28% over the last quarter.

Capital World Investors holds 36,551,554 shares representing 1.83% ownership of the company. In it’s prior filing, the firm reported owning 28,088,676 shares, representing an increase of 23.15%. The firm increased its portfolio allocation in UBER by 78.12% over the last quarter.

Fund Sentiment

There are 1766 funds or institutions reporting positions in Uber Technologies. This is an increase of 68 owner(s) or 4.00%.

Average portfolio weight of all funds dedicated to US:UBER is 0.7904%, an increase of 16.8935%. Total shares owned by institutions increased in the last three months by 8.28% to 1,665,222K shares.

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.

This article originally appeared on Fintel