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

Zacks Equity Research
·2 min read

Uber Technologies (UBER) closed at $53.71 in the latest trading session, marking a -0.13% move from the prior day. This move lagged the S&P 500's daily gain of 0.08%. Elsewhere, the Dow gained 0.38%, while the tech-heavy Nasdaq lost 0.29%.

Prior to today's trading, shares of the ride-hailing company had gained 4.92% over the past month. This has lagged the Computer and Technology sector's gain of 7.44% and outpaced the S&P 500's gain of 3.8% in that time.

Wall Street will be looking for positivity from UBER as it approaches its next earnings report date. The company is expected to report EPS of -$0.53, up 17.19% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.71 billion, down 8.88% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$3.86 per share and revenue of $12.68 billion, which would represent changes of +43.32% and -10.36%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for UBER. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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, 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 0.05% higher. UBER is currently a Zacks Rank #3 (Hold).

The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 170, putting it in the bottom 34% 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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