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Uber Technologies (UBER) Stock Sinks As Market Gains: Here's Why
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The latest trading session saw Uber Technologies (UBER - Free Report) ending at $63.14, denoting a -0.22% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 0.04%. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq lost 0.03%.
Shares of the ride-hailing company witnessed a gain of 12.2% over the previous month, beating the performance of the Computer and Technology sector with its gain of 4.9% and the S&P 500's gain of 5.28%.
The investment community will be closely monitoring the performance of Uber Technologies in its forthcoming earnings report. On that day, Uber Technologies is projected to report earnings of $0.15 per share, which would represent a year-over-year decline of 48.28%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.76 billion, up 13.38% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.37 per share and revenue of $37.1 billion. These totals would mark changes of +107.96% and +16.4%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Uber Technologies. 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.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.36% higher within the past month. Uber Technologies currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Uber Technologies is holding a Forward P/E ratio of 170.72. This signifies a premium in comparison to the average Forward P/E of 27.93 for its industry.
The Internet - Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 36, this industry ranks in the top 15% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Uber Technologies (UBER) Stock Sinks As Market Gains: Here's Why
The latest trading session saw Uber Technologies (UBER - Free Report) ending at $63.14, denoting a -0.22% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 0.04%. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq lost 0.03%.
Shares of the ride-hailing company witnessed a gain of 12.2% over the previous month, beating the performance of the Computer and Technology sector with its gain of 4.9% and the S&P 500's gain of 5.28%.
The investment community will be closely monitoring the performance of Uber Technologies in its forthcoming earnings report. On that day, Uber Technologies is projected to report earnings of $0.15 per share, which would represent a year-over-year decline of 48.28%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.76 billion, up 13.38% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.37 per share and revenue of $37.1 billion. These totals would mark changes of +107.96% and +16.4%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Uber Technologies. 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.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.36% higher within the past month. Uber Technologies currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Uber Technologies is holding a Forward P/E ratio of 170.72. This signifies a premium in comparison to the average Forward P/E of 27.93 for its industry.
The Internet - Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 36, this industry ranks in the top 15% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.