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Uber Technologies (UBER) Outperforms Broader Market: What You Need to Know
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Uber Technologies (UBER - Free Report) closed the most recent trading day at $70.11, moving +1.62% from the previous trading session. This change outpaced the S&P 500's 1.07% gain on the day. On the other hand, the Dow registered a gain of 0.31%, and the technology-centric Nasdaq increased by 2.17%.
The the stock of ride-hailing company has fallen by 2.91% in the past month, lagging the Computer and Technology sector's loss of 0.16% and the S&P 500's gain of 2.92%.
Market participants will be closely following the financial results of Uber Technologies in its upcoming release. The company's earnings per share (EPS) are projected to be $0.39, reflecting a 290% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $11.01 billion, up 18.44% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.06 per share and revenue of $43.44 billion. These totals would mark changes of +21.84% and +16.53%, respectively, from last 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. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.53% higher within the past month. As of now, Uber Technologies holds a Zacks Rank of #3 (Hold).
Digging into valuation, Uber Technologies currently has a Forward P/E ratio of 65.25. This indicates a premium in contrast to its industry's Forward P/E of 30.5.
It's also important to note that UBER currently trades at a PEG ratio of 1.23. 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. By the end of yesterday's trading, the Internet - Services industry had an average PEG ratio of 2.17.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 91, putting it in the top 36% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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) Outperforms Broader Market: What You Need to Know
Uber Technologies (UBER - Free Report) closed the most recent trading day at $70.11, moving +1.62% from the previous trading session. This change outpaced the S&P 500's 1.07% gain on the day. On the other hand, the Dow registered a gain of 0.31%, and the technology-centric Nasdaq increased by 2.17%.
The the stock of ride-hailing company has fallen by 2.91% in the past month, lagging the Computer and Technology sector's loss of 0.16% and the S&P 500's gain of 2.92%.
Market participants will be closely following the financial results of Uber Technologies in its upcoming release. The company's earnings per share (EPS) are projected to be $0.39, reflecting a 290% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $11.01 billion, up 18.44% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.06 per share and revenue of $43.44 billion. These totals would mark changes of +21.84% and +16.53%, respectively, from last 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. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.53% higher within the past month. As of now, Uber Technologies holds a Zacks Rank of #3 (Hold).
Digging into valuation, Uber Technologies currently has a Forward P/E ratio of 65.25. This indicates a premium in contrast to its industry's Forward P/E of 30.5.
It's also important to note that UBER currently trades at a PEG ratio of 1.23. 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. By the end of yesterday's trading, the Internet - Services industry had an average PEG ratio of 2.17.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 91, putting it in the top 36% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.