Uber Technologies (UBER) closed the most recent trading day at $39.75, moving +0.58% from the previous trading session. The stock outpaced the S&P 500’s daily loss of 0.91%.
Heading into today, shares of the ride-hailing company had lost 0.85% over the past month, lagging the Computer and Technology sector’s gain of 2.86% and the S&P 500’s gain of 0.01% in that time.
UBER will be looking to display strength as it nears its next earnings release. In that report, analysts expect UBER to post earnings of -$0.43 per share. This would mark year-over-year growth of 30.65%. Our most recent consensus estimate is calling for quarterly revenue of $4.4 billion, up 40.76% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.20 per share and revenue of $16.32 billion. These totals would mark changes of +94.82% and +35.08%, respectively, from last year.
Any recent changes to analyst estimates for UBER should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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. 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. The Zacks Consensus EPS estimate has moved 27.83% higher within the past month. UBER currently has a Zacks Rank of #3 (Hold).
The Internet – Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 156, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.