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Uber Technologies (UBER) Gains But Lags Market: What You Should Know

Zacks Equity Research

Uber Technologies (UBER) closed the most recent trading day at $33.97, moving +0.12% from the previous trading session. This change lagged the S&P 500's 0.67% gain on the day. Meanwhile, the Dow gained 0.74%, and the Nasdaq, a tech-heavy index, added 0.81%.

Coming into today, shares of the ride-hailing company had gained 19.39% in the past month. In that same time, the Computer and Technology sector gained 6.02%, while the S&P 500 gained 3.55%.

Investors will be hoping for strength from UBER as it approaches its next earnings release.

Any recent changes to analyst estimates for UBER should also be noted by investors. 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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. UBER is currently a Zacks Rank #3 (Hold).

The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 172, which puts it in the bottom 33% 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.

To follow UBER in the coming trading sessions, be sure to utilize Zacks.com.


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