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Uber Technologies (UBER) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Uber Technologies (UBER - Free Report) closed at $27.50, marking a -1.15% move from the previous day. This move lagged the S&P 500's daily gain of 2.46%. Elsewhere, the Dow gained 2.59%, while the tech-heavy Nasdaq lost 0.2%.
Heading into today, shares of the ride-hailing company had gained 5.3% over the past month, outpacing the Computer and Technology sector's loss of 1.56% and the S&P 500's gain of 4.56% in that time.
Investors will be hoping for strength from Uber Technologies as it approaches its next earnings release, which is expected to be November 1, 2022. On that day, Uber Technologies is projected to report earnings of -$0.17 per share, which would represent year-over-year growth of 26.09%. Our most recent consensus estimate is calling for quarterly revenue of $8.08 billion, up 66.77% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$4.64 per share and revenue of $31.67 billion, which would represent changes of -1684.62% and +81.42%, respectively, from the prior year.
Any recent changes to analyst estimates for Uber Technologies should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 0.02% lower within the past month. Uber Technologies is currently sporting a Zacks Rank of #3 (Hold).
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 73, which puts it in the top 29% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Uber Technologies (UBER) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Uber Technologies (UBER - Free Report) closed at $27.50, marking a -1.15% move from the previous day. This move lagged the S&P 500's daily gain of 2.46%. Elsewhere, the Dow gained 2.59%, while the tech-heavy Nasdaq lost 0.2%.
Heading into today, shares of the ride-hailing company had gained 5.3% over the past month, outpacing the Computer and Technology sector's loss of 1.56% and the S&P 500's gain of 4.56% in that time.
Investors will be hoping for strength from Uber Technologies as it approaches its next earnings release, which is expected to be November 1, 2022. On that day, Uber Technologies is projected to report earnings of -$0.17 per share, which would represent year-over-year growth of 26.09%. Our most recent consensus estimate is calling for quarterly revenue of $8.08 billion, up 66.77% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$4.64 per share and revenue of $31.67 billion, which would represent changes of -1684.62% and +81.42%, respectively, from the prior year.
Any recent changes to analyst estimates for Uber Technologies should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 0.02% lower within the past month. Uber Technologies is currently sporting a Zacks Rank of #3 (Hold).
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 73, which puts it in the top 29% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.