Uber Technologies Inc (NYSE: UBER) stock surged more than 4.10% in the July 18 trading session. It opened trading at $47.38, dipped to $47.38, hit a high of $47.70, and closed trading at $47.39 with an intraday trading volume of 708.761k.
In the monthly time frame, UBER stock surged more than 10%, and its prices rose over 113.85% yearly. The annual price of Uber Tech stock is $51.69, which is around 9.04% higher than the current trading prices.
In the 52 week time frame, UBER stock’s lowest trading price was $22.14, and its highest was $47.75. The market capitalization of Uber Technologies Inc is $95.95 billion, and its average trading volume is 22.634 million.
According to TradingView, 1.931 billion UBER shares are free-floating, and the remaining 92.849 million shares are closely held either by financial backers of the company or by the board of directors of the company.
In the financial year 2022, revenue to profit conversion of Uber Technologies Inc constituted 29% of gross profit, 0% of Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA), -3% of Earnings before interest and taxes (EBIT), and -29% of net income.
After analyzing the technical aspects of UBER stock, it is evident that if prices maintain momentum, then 10% more upside is possible, which will take the prices to $52.
If the company beats the analysts’ estimated revenue for Q2 2023, then UBER stock might reflect a sharp hike after the earnings are released. The strong support of UBER stock is $37, and the immediate support is $40.
Uber Technologies Inc (NYSE: UBER) Earnings & Revenue
In Q1 2023, Uber Technologies Inc impressed its investors and shareholders by reporting 1.38% more revenue than the estimated figures. The company’s estimated revenue was $8.70 Billion but it reported $8.82 Billion.
Uber Technologies Inc’s Earnings Per Share (EPS) rose over 7.25% higher than the estimated amount. As per analysts, the estimated EPS of the company was -$0.09. The estimated revenue for Q2 and Q3 2023 is $9.34 billion and $9.51 billion, respectively.
From Q1 2023’s reported revenue, gross profit of the company was $2.72 billion, with $85.00 million operating income, -$138.00 million of pre-tax income, and -$157 million net income. At press time, market capitalization of Uber Technology was below $100 billion. However, on April 12, 2021, the market cap of the company was above $111 billion.
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/07/19/uber-stock-added-4-10-intraday-buyers-enjoying-the-surge/