Uber Technologies 4Q Delivery Gross Bookings Up 19%
Uber Technologies 4Q Delivery Gross Bookings Up 19%.
Uber Technologies 4Q Delivery Gross Bookings Up 19% Read Post »
Consumer Discretionary
Uber Technologies Q4 Sales $9.90B Beat $9.76B Estimate
Uber Technologies (NYSE:UBER) reported quarterly sales of $9.90 billion which beat the analyst consensus estimate of $9.76 billion by 1.45 percent. This is a 15.02 percent increase over sales of $8.61 billion the same period last year.
Uber Technologies Q4 Sales $9.90B Beat $9.76B Estimate Read Post »
Uber Technologies, Inc. (NYSE:UBER) Q4 2023 Earnings Conference
The following is a summary of the Uber Technologies, Inc. (UBER) Q4 2023 Earnings Call Transcript: Financial Performance: Uber had a solid Q4 with adjusted EBITDA of $1.3 billion, above expectations and a GAAP operating income of $652 million. The company noted 2023 as an inflection point, indicating Uber’s capacity to generate strong, profitable growth at large scale. Moving forward into 2024, Uber looks to maintain this growth momentum, with plans for solid execution. Uber Eats business growth quickened from 16% to 17%, while also considerably increasing its margins. Business Progress: Uber registered a 24% YoY increase in trip growth, marking its fourth consecutive quarter of outpacing gross bookings growth. New products tailored for enterprises, low-cost transportation options, and new two-wheeler and three-wheeler options have all seen strong adoption. Increase of 30% in the number of drivers on the platform and a 10% rise in driver engagement. Grocery delivery has
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Uber Technologies Operating on All Cylinders With Strong Growth, RBC Capital Says
Uber Technologies’ (UBER) Q4 results indicate that the ride-hailing firm is operating on all cylinders with strong growth and increasing profitability, RBC Capital Markets said in a note emailed Thursday. Uber surpassed expectations after it posted Q4 earnings of $0.66 per diluted share, up from $0.29 a year earlier and above the Capital IQ consensus of $0.17. RBC said Uber looks set up for new long-term targets and an inaugural capital return outlook during its investor day next week. The firm also sees “significant headroom” in advertising which reached a new high of $900 million in run rate with potential for “outsized” margin expansion moving forward. RBC Capital maintained its outperform rating on the company’s stock while raising its price target to $85 from $65. Uber shares were up 1.6% in recent Thursday trading.
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Uber Technologies Price Target Raised on Strong Gross Bookings Growth Confidence, UBS Says
Uber Technologies’ (UBER) price target has been raised to $94 from $87 due to confidence in the ride-hailing firm’s sustained growth of gross bookings, especially in mobility and delivery, UBS said in a note Thursday. “We increase our [gross bookings] estimate by 2% for 2024 & 2025, while also raising our Adj. EBITDA estimate by 7% and 8% for 2024 and 2025 respectively,” UBS said. Key factors include strong delivery growth, a more favorable than expected expansion in delivery margins for 2024, and consistent growth in mobility margins in 2024, the note said. “We expect Uber to update on capital return during the Feb. 14 Investor Update event, which could in our view clear the path for shares to rerate higher,” UBS said. UBS maintained a buy rating on the ride-hailing firm.
Ford Motor (NYSE:F) Stock Analyst Ratings
Ford Motor (NYSE:F) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/13/2024 26.83% Morgan Stanley $15 → $16 Maintains Overweight 02/08/2024 18.91% Barclays $14 → $15 Maintains Overweight 02/07/2024 26.83% Citigroup $15 → $16 Maintains Buy 02/07/2024 -4.88% RBC Capital → $12 Reiterates Sector Perform → Sector Perform 01/24/2024 -20.73% Redburn Atlantic → $10 Initiates Coverage On → Sell 01/17/2024 -4.88% UBS → $12 Downgrades Buy → Neutral 12/04/2023 -10.42% HSBC → $11.3 Initiates Coverage On → Hold 11/01/2023 10.98% Barclays → $14 Upgrades Equal-Weight → Overweight 10/31/2023 18.91% Morgan Stanley $16 → $15 Maintains Overweight 10/06/2023 26.83% Morgan Stanley $16 → $16 Reiterates Overweight → Overweight 09/13/2023 18.91% UBS → $15 Initiates Coverage On → Buy 08/30/2023 -4.88% RBC Capital → $12 Reiterates Sector Perform → Sector Perform 08/01/2023 26.83% Morgan Stanley $16 → $16 Reiterates Overweight → Overweight 08/01/2023 3.05%
Ford Motor (NYSE:F) Stock Analyst Ratings Read Post »
McDonald’s Expects to Open More Than 2,100 Restaurants Globally in 2024
McDonald’s Expects to Open More Than 2,100 Restaurants Globally in 2024.
McDonald’s Expects to Open More Than 2,100 Restaurants Globally in 2024 Read Post »
Barclays lowers McDonald’s (NYSE:MCD) price target from $343 to $340
Barclays analyst Jeffrey Bernstein maintains McDonald’s (NYSE:MCD) with a Overweight and lowers the price target from $343 to $340.
Barclays lowers McDonald’s (NYSE:MCD) price target from $343 to $340 Read Post »
McDonald’s Soft Start, ‘Cautious Tone’ Weighing on Shares, RBC Says
McDonald’s (MCD) Q4 results indicated a soft start to the year, with a somewhat “cautious tone” seen weighing on its shares, RBC Capital Markets said in a Monday note. “Near-term, we see continued focus on domestic trends as the likely driver of MCD share performance, particularly in a more value-conscious operating environment,” said RBC analysts Christopher Carril and Khadijah Gibson. “Longer-term, we continue to see MCD as well-positioned across areas of increasing focus, including loyalty, menu and digital.” Looking ahead to 2024, the analysts said they adjusted estimates modestly lower, with EPS to $12.44 from $12.66, but adding that there could be potential earnings upside from easing margin pressures. RBC cut its price target to $335 from $340 while retaining its outperform rating.
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Lowe’s (NYSE: LOW) Could Get New Lift Ahead of Expected Rate Cuts ,says JPMorgan analysts
Lowe’s (NYSE: LOW) benefited significantly from the slashing of interest rates and subsequent boom in home buying early in the pandemic, and stands to see some tailwinds again if the Federal Reserve cuts currently high rates this year, JPMorgan analysts say in a research note. They upgrade the stock’s rating to overweight, saying that the market is pricing in 150 basis points in rate cuts by this time next year, suggesting mortgage rates fall to about 5.5% by January. The last time mortgage rates were at 5.5%, single family existing-home sales trended at about 4.3 million homes, which would represent a 20% growth rate from recent levels, the analysts say.
Trade Desk Likely to See ‘Revenue Re-acceleration’ in 2024, RBC Says
Trade Desk (TTD) is likely to see “revenue re-acceleration” this year as “solid” Q4 results set up the company for 2024, RBC Capital Markets said in a Saturday note. “The broader macro environment remains uneven, but we continue to pick up signs of improvement to start the year with Q1 likely being stronger than Q4 when adjusting for seasonality,” RBC said. The investment firm estimates Q4 revenue to be close to the 2.2% average beat in the past four quarters but noted that it expects the company to issue a “prudently conservative” Q1 outlook. RBC said current investor concerns revolve around the potential impacts of Google cookie deprecation and Amazon’s (AMZN) Advertising Video On Demand inventory. These concerns have been “overblown” but will still be “challenging” to dismiss near term, RBC added. Trade Desk is set to release its Q4 results on Feb. 15. RBC maintained its outperform rating on
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Target’s Top-Line Trends Seen Pressured in Fiscal Q4, UBS Says
Target’s (TGT) top-line trends likely continued to be pressured in fiscal Q4, though the retailer has a “compelling” setup into 2024, UBS Securities said in a note Monday. The brokerage projects Target’s fiscal Q4 earnings at $2.42 per diluted share on revenue of $31.61 billion. The market consensus is for $2.40 and $31.81 billion, respectively, according to UBS. The firm sees the retailer’s fiscal Q4 comparable sales falling 5.5%, compared with the market consensus for a 4.5% drop. “Our baseline thesis on Target is that it will get back to growing both its sales and profits this year, which will propel its stock higher,” UBS analysts Michael Lasser, Zeyn Burak and Mark Carden said in the note. “Its upcoming print should provide evidence that it has the tools to make this happen in the coming quarter.” UBS has a buy rating on the Target stock, with a $174 price target.
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