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Uber Technologies (UBER) Stock Declines While Market Improves: Some Information for Investors
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Uber Technologies (UBER - Free Report) closed at $63.76 in the latest trading session, marking a -0.99% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.08% for the day. Elsewhere, the Dow saw a downswing of 0.12%, while the tech-heavy Nasdaq appreciated by 0.07%.
Prior to today's trading, shares of the ride-hailing company had lost 11.39% over the past month. This has lagged the Computer and Technology sector's loss of 4.62% and the S&P 500's loss of 0.21% in that time.
The investment community will be closely monitoring the performance of Uber Technologies in its forthcoming earnings report. The company is scheduled to release its earnings on August 6, 2024. The company is predicted to post an EPS of $0.31, indicating a 72.22% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $10.56 billion, reflecting a 14.4% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.85 per share and a revenue of $43.32 billion, indicating changes of -2.3% and +16.2%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Uber Technologies. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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 0.08% higher. Uber Technologies is currently a Zacks Rank #3 (Hold).
With respect to valuation, Uber Technologies is currently being traded at a Forward P/E ratio of 76.08. This valuation marks a premium compared to its industry's average Forward P/E of 21.92.
We can additionally observe that UBER currently boasts a PEG ratio of 1.41. 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 Internet - Services industry currently had an average PEG ratio of 2.16 as of yesterday's close.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 101, which puts it in the top 41% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Uber Technologies (UBER) Stock Declines While Market Improves: Some Information for Investors
Uber Technologies (UBER - Free Report) closed at $63.76 in the latest trading session, marking a -0.99% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.08% for the day. Elsewhere, the Dow saw a downswing of 0.12%, while the tech-heavy Nasdaq appreciated by 0.07%.
Prior to today's trading, shares of the ride-hailing company had lost 11.39% over the past month. This has lagged the Computer and Technology sector's loss of 4.62% and the S&P 500's loss of 0.21% in that time.
The investment community will be closely monitoring the performance of Uber Technologies in its forthcoming earnings report. The company is scheduled to release its earnings on August 6, 2024. The company is predicted to post an EPS of $0.31, indicating a 72.22% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $10.56 billion, reflecting a 14.4% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.85 per share and a revenue of $43.32 billion, indicating changes of -2.3% and +16.2%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Uber Technologies. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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 0.08% higher. Uber Technologies is currently a Zacks Rank #3 (Hold).
With respect to valuation, Uber Technologies is currently being traded at a Forward P/E ratio of 76.08. This valuation marks a premium compared to its industry's average Forward P/E of 21.92.
We can additionally observe that UBER currently boasts a PEG ratio of 1.41. 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 Internet - Services industry currently had an average PEG ratio of 2.16 as of yesterday's close.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 101, which puts it in the top 41% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.