In the latest market close, Uber Technologies (UBER) reached $72.86, with a +0.15% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 0.55%. Elsewhere, the Dow saw an upswing of 1.01%, while the tech-heavy Nasdaq depreciated by 0.14%.
Shares of the ride-hailing company have depreciated by 4.29% over the course of the past month, outperforming the Computer and Technology sector's loss of 8.88% and the S&P 500's loss of 6.22%.
Analysts and investors alike will be keeping a close eye on the performance of Uber Technologies in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.51, indicating a 259.38% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $11.61 billion, reflecting a 14.58% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.54 per share and a revenue of $50.58 billion, indicating changes of -44.3% and +15.02%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Uber Technologies. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.12% higher. Uber Technologies currently has a Zacks Rank of #2 (Buy).
With respect to valuation, Uber Technologies is currently being traded at a Forward P/E ratio of 28.68. This indicates a premium in contrast to its industry's Forward P/E of 21.95.
It is also worth noting that UBER currently has a PEG ratio of 0.8. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Services industry currently had an average PEG ratio of 1.26 as of yesterday's close.
The Internet - Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 138, positioning it in the bottom 46% 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.
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Uber Technologies, Inc. (UBER): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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