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Here's Why Uber Technologies (UBER) Fell More Than Broader Market
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The latest trading session saw Uber Technologies (UBER - Free Report) ending at $44.61, denoting a -0.73% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily loss of 0.13%. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq lost 0.12%.
The ride-hailing company's stock has dropped by 2.09% in the past month, exceeding the Computer and Technology sector's loss of 5.08% and the S&P 500's loss of 5.53%.
The upcoming earnings release of Uber Technologies will be of great interest to investors. It is anticipated that the company will report an EPS of $0.13, marking a 121.31% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $9.47 billion, reflecting a 13.52% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.42 per share and a revenue of $37.43 billion, representing changes of +109.03% and +17.41%, respectively, from the prior year.
Any recent changes to analyst estimates for Uber Technologies should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.34% rise in the Zacks Consensus EPS estimate. Uber Technologies is currently a Zacks Rank #1 (Strong Buy).
Investors should also note Uber Technologies's current valuation metrics, including its Forward P/E ratio of 108.1. This expresses a premium compared to the average Forward P/E of 27.14 of its industry.
The Internet - Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 64, finds itself in the top 26% 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.
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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Here's Why Uber Technologies (UBER) Fell More Than Broader Market
The latest trading session saw Uber Technologies (UBER - Free Report) ending at $44.61, denoting a -0.73% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily loss of 0.13%. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq lost 0.12%.
The ride-hailing company's stock has dropped by 2.09% in the past month, exceeding the Computer and Technology sector's loss of 5.08% and the S&P 500's loss of 5.53%.
The upcoming earnings release of Uber Technologies will be of great interest to investors. It is anticipated that the company will report an EPS of $0.13, marking a 121.31% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $9.47 billion, reflecting a 13.52% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.42 per share and a revenue of $37.43 billion, representing changes of +109.03% and +17.41%, respectively, from the prior year.
Any recent changes to analyst estimates for Uber Technologies should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.34% rise in the Zacks Consensus EPS estimate. Uber Technologies is currently a Zacks Rank #1 (Strong Buy).
Investors should also note Uber Technologies's current valuation metrics, including its Forward P/E ratio of 108.1. This expresses a premium compared to the average Forward P/E of 27.14 of its industry.
The Internet - Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 64, finds itself in the top 26% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.