In the latest trading session, Uber Technologies (UBER) closed at $31.85, marking a -0.47% move from the previous day. This change lagged the S&P 500's daily loss of 0.2%. At the same time, the Dow lost 0.08%, and the tech-heavy Nasdaq lost 0.3%.
Coming into today, shares of the ride-hailing company had lost 6.68% in the past month. In that same time, the Computer and Technology sector gained 0.91%, while the S&P 500 lost 0.25%.
Wall Street will be looking for positivity from UBER as it approaches its next earnings report date. This is expected to be November 4, 2019.
Investors should also note any recent changes to analyst estimates for UBER. These recent revisions tend to reflect the evolving nature of short-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. UBER is holding a Zacks Rank of #2 (Buy) right now.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 155, which puts it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Uber Technologies, Inc. (UBER) : Free Stock Analysis Report
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