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Uber Technologies (UBER) Outpaces Stock Market Gains: What You Should Know

Zacks Equity Research

Uber Technologies (UBER) closed at $33.24 in the latest trading session, marking a +0.56% move from the prior day. This move outpaced the S&P 500's daily gain of 0.19%. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq gained 0.81%.

Prior to today's trading, shares of the ride-hailing company had gained 4.32% over the past month. This has outpaced the Computer and Technology sector's gain of 0.15% and the S&P 500's gain of 0.56% in that time.

Investors will be hoping for strength from UBER as it approaches its next earnings release, which is expected to be November 4, 2019.

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.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.

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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. UBER is holding a Zacks Rank of #1 (Strong Buy) right now.

The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 150, putting it in the bottom 42% 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.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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