Uber Technologies (UBER) ended the recent trading session at $93.10, demonstrating a +2.42% change from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.8%. On the other hand, the Dow registered a gain of 0.94%, and the technology-centric Nasdaq increased by 0.97%.
The ride-hailing company's shares have seen an increase of 2.99% over the last month, not keeping up with the Computer and Technology sector's gain of 8.5% and the S&P 500's gain of 5.12%.
Investors will be eagerly watching for the performance of Uber Technologies in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.61, showcasing a 29.79% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $12.45 billion, up 16.33% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.9 per share and a revenue of $50.69 billion, signifying shifts of -36.4% and +15.27%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Uber Technologies. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.19% upward. Uber Technologies is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Uber Technologies is presently trading at a Forward P/E ratio of 31.38. Its industry sports an average Forward P/E of 19.25, so one might conclude that Uber Technologies is trading at a premium comparatively.
Investors should also note that UBER has a PEG ratio of 1.15 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. UBER's industry had an average PEG ratio of 1.33 as of yesterday's close.
The Internet - Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 151, this industry ranks in the bottom 39% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in 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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