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Uber Technologies (UBER) Gains As Market Dips: What You Should Know

Zacks Equity Research

In the latest trading session, Uber Technologies (UBER) closed at $37.66, marking a +0.51% move from the previous day. This move outpaced the S&P 500's daily loss of 0.46%. Meanwhile, the Dow gained 0.13%, and the Nasdaq, a tech-heavy index, lost 1.25%.

Coming into today, shares of the ride-hailing company had gained 24.57% in the past month. In that same time, the Computer and Technology sector gained 2.23%, while the S&P 500 gained 1%.

Wall Street will be looking for positivity from UBER as it approaches its next earnings report date. On that day, UBER is projected to report earnings of -$0.59 per share, which would represent year-over-year growth of 13.24%. Our most recent consensus estimate is calling for quarterly revenue 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.

Investors should also note any recent changes to analyst estimates for UBER. Recent revisions tend to reflect the latest near-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 0.8% higher. UBER currently has 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 178, putting it in the bottom 30% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.

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Zacks Investment Research