Uber Technologies (UBER) Outpaces Stock Market Gains: What You Should Know
Uber Technologies (UBER) closed the most recent trading day at $30.68, moving +0.82% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.45%. Meanwhile, the Dow gained 0.36%, and the Nasdaq, a tech-heavy index, added 0.52%.
Heading into today, shares of the ride-hailing company had lost 17.2% over the past month, lagging the Computer and Technology sector's gain of 5.91% and the S&P 500's gain of 2.08% in that time.
Investors will be hoping for strength from UBER as it approaches its next earnings release. On that day, UBER is projected to report earnings of -$0.76 per share, which would represent year-over-year growth of 83.9%. Meanwhile, our latest consensus estimate is calling for revenue of $2.30 billion, down 27.39% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$3.50 per share and revenue of $13.42 billion. These totals would mark changes of +48.6% and -5.15%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for UBER. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.08% higher. UBER is holding a Zacks Rank of #3 (Hold) right now.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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