Here's Why Uber Technologies (UBER) is a Strong Momentum Stock
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
Uber Technologies (UBER)
Uber Technologies, based in San Francisco, CA, was incorporated in Delaware in July 2010. The company went public in May 2019. Its IPO price was $45. Uber closed its IPO on May 14. During the process, the company issued and sold 180 million shares of its common stock.
UBER is a Zacks Rank #2 (Buy) stock, with a Momentum Style Score of B and VGM Score of B. Shares are down 0.7% over the past one week and up 0.5% over the past four weeks. UBER has gained 153% in the last one-year period as well. Looking at trading volume, an average of 14,826,285 shares exchanged hands over the last 20 trading days.
Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. 11 analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.15 to $1.19 per share. UBER boasts an average earnings surprise of 559.2%.
UBER should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.
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Uber Technologies, Inc. (UBER) : Free Stock Analysis Report
