In the latest close session, Uber Technologies (UBER) was up +1.41% at $82.86. This change outpaced the S&P 500's 0.19% gain on the day. Elsewhere, the Dow gained 0.66%, while the tech-heavy Nasdaq lost 0.03%.
Shares of the ride-hailing company witnessed a loss of 10.2% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 0.02%, and the S&P 500's gain of 0.54%.
The investment community will be closely monitoring the performance of Uber Technologies in its forthcoming earnings report. The company is forecasted to report an EPS of $0.83, showcasing a 74.14% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $14.29 billion, indicating a 19.49% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.36 per share and a revenue of $51.92 billion, representing changes of +17.54% and 0%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Uber Technologies. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.
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 past month, there's been a 0.63% rise in the Zacks Consensus EPS estimate. Right now, Uber Technologies possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Uber Technologies currently has a Forward P/E ratio of 22.68. This signifies a premium in comparison to the average Forward P/E of 17.15 for its industry.
The Internet - Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 71, finds itself in the top 29% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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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