In the latest trading session, Uber Technologies (UBER) closed at $97.80, marking a -1.6% move from the previous day. This change lagged the S&P 500's daily loss of 0.55%. On the other hand, the Dow registered a loss of 0.19%, and the technology-centric Nasdaq decreased by 0.95%.
Prior to today's trading, shares of the ride-hailing company had gained 4.45% lagged the Computer and Technology sector's gain of 9.88% and outpaced the S&P 500's gain of 3.64%.
The investment community will be closely monitoring the performance of Uber Technologies in its forthcoming earnings report. The company's upcoming EPS is projected at $0.67, signifying a 44.17% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $13.25 billion, indicating a 18.47% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $2.91 per share and a revenue of $51.41 billion, demonstrating changes of -36.18% and +16.9%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Uber Technologies. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 past month, the Zacks Consensus EPS estimate has moved 0.04% higher. Uber Technologies presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Uber Technologies is currently trading at a Forward P/E ratio of 34.2. For comparison, its industry has an average Forward P/E of 25.36, which means Uber Technologies is trading at a premium to the group.
The Internet - Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 91, positioning it in the top 37% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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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Uber Technologies, Inc. (UBER): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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