Uber Technologies (UBER) closed the most recent trading day at $85.65, moving +1.77% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.21% for the day. On the other hand, the Dow registered a gain of 1.35%, and the technology-centric Nasdaq decreased by 0.26%.
Prior to today's trading, shares of the ride-hailing company had lost 10.06% lagged the Computer and Technology sector's gain of 2.05% and the S&P 500's gain of 0.89%.
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 $0.82, signifying a 74.45% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $14.29 billion, indicating a 19.49% growth compared to the corresponding quarter of the prior year.
UBER's full-year Zacks Consensus Estimates are calling for earnings of $5.35 per share and revenue of $51.92 billion. These results would represent year-over-year changes of +17.32% and +18.05%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Uber Technologies. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.65% increase. At present, Uber Technologies boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Uber Technologies is holding a Forward P/E ratio of 15.74. This indicates a discount in contrast to its industry's Forward P/E of 19.81.
The Internet - Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 85, finds itself in the top 35% echelons 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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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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