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Uber Technologies (UBER) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Uber Technologies (UBER - Free Report) closed at $31.50, marking a -1.69% move from the previous day. This change lagged the S&P 500's daily loss of 0.6%. Elsewhere, the Dow lost 0.33%, while the tech-heavy Nasdaq lost 2.87%.
Prior to today's trading, shares of the ride-hailing company had gained 1.65% over the past month. This has lagged the Computer and Technology sector's gain of 3.62% and the S&P 500's gain of 6.22% in that time.
Investors will be hoping for strength from Uber Technologies as it approaches its next earnings release, which is expected to be May 2, 2023. On that day, Uber Technologies is projected to report earnings of -$0.10 per share, which would represent year-over-year growth of 96.71%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.7 billion, up 26.9% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.12 per share and revenue of $36.9 billion, which would represent changes of +97.42% and +15.75%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Uber Technologies. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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, the Zacks Consensus EPS estimate has moved 10.63% higher. Uber Technologies is currently a Zacks Rank #3 (Hold).
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 104, which puts it in the top 42% 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.
To follow UBER in the coming trading sessions, be sure to utilize Zacks.com.
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Uber Technologies (UBER) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Uber Technologies (UBER - Free Report) closed at $31.50, marking a -1.69% move from the previous day. This change lagged the S&P 500's daily loss of 0.6%. Elsewhere, the Dow lost 0.33%, while the tech-heavy Nasdaq lost 2.87%.
Prior to today's trading, shares of the ride-hailing company had gained 1.65% over the past month. This has lagged the Computer and Technology sector's gain of 3.62% and the S&P 500's gain of 6.22% in that time.
Investors will be hoping for strength from Uber Technologies as it approaches its next earnings release, which is expected to be May 2, 2023. On that day, Uber Technologies is projected to report earnings of -$0.10 per share, which would represent year-over-year growth of 96.71%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.7 billion, up 26.9% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.12 per share and revenue of $36.9 billion, which would represent changes of +97.42% and +15.75%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Uber Technologies. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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, the Zacks Consensus EPS estimate has moved 10.63% higher. Uber Technologies is currently a Zacks Rank #3 (Hold).
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 104, which puts it in the top 42% 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.
To follow UBER in the coming trading sessions, be sure to utilize Zacks.com.