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

Zacks Equity Research

Uber Technologies (UBER) closed at $31.65 in the latest trading session, marking a +1.12% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.62%. At the same time, the Dow added 0.61%, and the tech-heavy Nasdaq gained 1.05%.

Prior to today's trading, shares of the ride-hailing company had lost 5.47% over the past month. This has lagged the Computer and Technology sector's gain of 3.77% and the S&P 500's gain of 3.85% in that time.

Wall Street will be looking for positivity from UBER as it approaches its next earnings report date.

Any recent changes to analyst estimates for UBER should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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, 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. Within the past 30 days, our consensus EPS projection has moved 1.65% 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 group has a Zacks Industry Rank of 153, putting it in the bottom 41% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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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