Uber Technologies (UBER) Gains But Lags Market: What You Should Know
Uber Technologies (UBER) closed at $36.78 in the latest trading session, marking a +1.43% move from the prior day. This move lagged the S&P 500's daily gain of 1.74%. Elsewhere, the Dow gained 1.91%, while the tech-heavy Nasdaq added 1.88%.
Coming into today, shares of the ride-hailing company had gained 5.65% in the past month. In that same time, the Computer and Technology sector lost 1.67%, while the S&P 500 lost 1.86%.
Wall Street will be looking for positivity from UBER as it approaches its next earnings report date. In that report, analysts expect UBER to post earnings of -$0.59 per share. This would mark year-over-year growth of 13.24%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.14 billion, down 17.66% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$3.82 per share and revenue of $12.79 billion, which would represent changes of +43.91% and -9.58%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for UBER. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.76% 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 124, which puts it in the top 50% 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.
To follow UBER in the coming trading sessions, be sure to utilize Zacks.com.
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