In the latest trading session, Uber Technologies (UBER) closed at $25.97, marking a -1.03% move from the previous day. This move was narrower than the S&P 500’s daily loss of 1.11%. Meanwhile, the Dow lost 0.85%, and the Nasdaq, a tech-heavy index, added 0.1%.
Heading into today, shares of the ride-hailing company had lost 9.14% over the past month, lagging the Computer and Technology sector’s loss of 4.59% and the S&P 500’s loss of 2.19% in that time.
Investors will be hoping for strength from Uber Technologies as it approaches its next earnings release. In that report, analysts expect Uber Technologies to post earnings of -$0.19 per share. This would mark a year-over-year decline of 143.18%. 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 should also note any recent changes to analyst estimates for Uber Technologies. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Uber Technologies is currently sporting a Zacks Rank of #3 (Hold).
The Internet – Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 137, putting it in the bottom 46% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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