Uber Technologies (UBER) closed at $24.64 in the latest trading session, marking no change from the prior day. This change lagged the S&P 500’s daily gain of 0.59%. Elsewhere, the Dow gained 0.53%, while the tech-heavy Nasdaq added 0.45%.
Coming into today, shares of the ride-hailing company had lost 14.42% in the past month. In that same time, the Computer and Technology sector lost 6.38%, while the S&P 500 lost 4.33%.
Wall Street will be looking for positivity from Uber Technologies as it approaches its next earnings report date. The company is expected to report EPS of -$0.19, down 143.18% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $8.46 billion, up 46.49% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$5.12 per share and revenue of $31.73 billion, which would represent changes of -1869.23% and +81.81%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Uber Technologies. Recent revisions tend to reflect the latest near-term business trends. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 remained stagnant. Uber Technologies 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 156, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow UBER in the coming trading sessions, be sure to utilize Zacks.com.
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