In the latest trading session, Uber Technologies (UBER) closed at $79.14, marking a -2.2% move from the previous day. This move lagged the S&P 500's daily loss of 1.16%. Elsewhere, the Dow saw a downswing of 0.47%, while the tech-heavy Nasdaq depreciated by 1.81%.
The ride-hailing company's shares have seen a decrease of 10.94% over the last month, not keeping up with the Computer and Technology sector's gain of 1% and the S&P 500's gain of 1.03%.
Market participants will be closely following the financial results of Uber Technologies in its upcoming release. The company's upcoming EPS is projected at $0.82, signifying a 74.45% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.29 billion, up 19.49% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $5.35 per share and a revenue of $51.92 billion, demonstrating changes of +17.32% and +18.05%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in 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.
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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 2.65% higher. Uber Technologies is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Uber Technologies is presently being traded at a Forward P/E ratio of 15.13. This signifies a discount in comparison to the average Forward P/E of 19.59 for its industry.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 84, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank is ordered 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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Uber Technologies, Inc. (UBER): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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