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Uber Technologies (UBER) Rises But Trails Market: What Investors Should Know
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In the latest trading session, Uber Technologies (UBER - Free Report) closed at $67.73, marking a +0.62% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 1.08%. At the same time, the Dow added 0.32%, and the tech-heavy Nasdaq gained 1.58%.
The ride-hailing company's shares have seen a decrease of 4.13% over the last month, surpassing the Computer and Technology sector's loss of 4.77% and falling behind the S&P 500's gain of 0.43%.
Investors will be eagerly watching for the performance of Uber Technologies in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 6, 2024. It is anticipated that the company will report an EPS of $0.31, marking a 72.22% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $10.56 billion, indicating a 14.4% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.85 per share and a revenue of $43.32 billion, signifying shifts of -2.3% and +16.2%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Uber Technologies. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.42% increase. Uber Technologies is currently a Zacks Rank #3 (Hold).
Investors should also note Uber Technologies's current valuation metrics, including its Forward P/E ratio of 79.59. This indicates a premium in contrast to its industry's Forward P/E of 23.35.
We can additionally observe that UBER currently boasts a PEG ratio of 1.47. 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. The average PEG ratio for the Internet - Services industry stood at 2.12 at the close of the market yesterday.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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Uber Technologies (UBER) Rises But Trails Market: What Investors Should Know
In the latest trading session, Uber Technologies (UBER - Free Report) closed at $67.73, marking a +0.62% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 1.08%. At the same time, the Dow added 0.32%, and the tech-heavy Nasdaq gained 1.58%.
The ride-hailing company's shares have seen a decrease of 4.13% over the last month, surpassing the Computer and Technology sector's loss of 4.77% and falling behind the S&P 500's gain of 0.43%.
Investors will be eagerly watching for the performance of Uber Technologies in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 6, 2024. It is anticipated that the company will report an EPS of $0.31, marking a 72.22% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $10.56 billion, indicating a 14.4% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.85 per share and a revenue of $43.32 billion, signifying shifts of -2.3% and +16.2%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Uber Technologies. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.42% increase. Uber Technologies is currently a Zacks Rank #3 (Hold).
Investors should also note Uber Technologies's current valuation metrics, including its Forward P/E ratio of 79.59. This indicates a premium in contrast to its industry's Forward P/E of 23.35.
We can additionally observe that UBER currently boasts a PEG ratio of 1.47. 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. The average PEG ratio for the Internet - Services industry stood at 2.12 at the close of the market yesterday.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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 follow all of these stock-moving metrics, and many more, on Zacks.com.