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Uber Technologies (UBER) Dips More Than Broader Markets: What You Should Know
Uber Technologies (UBER - Free Report) closed at $29.20 in the latest trading session, marking a -0.82% move from the prior day. This move lagged the S&P 500's daily loss of 0.2%. Meanwhile, the Dow lost 1.14%, and the Nasdaq, a tech-heavy index, added 1.39%.
Heading into today, shares of the ride-hailing company had gained 18% over the past month, outpacing the Computer and Technology sector's gain of 3.75% and the S&P 500's gain of 4.01% in that time.
Wall Street will be looking for positivity from Uber Technologies as it approaches its next earnings report date. The company is expected to report EPS of -$0.20, down 145.45% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.47 billion, up 46.52% from the year-ago period.
Any recent changes to analyst estimates for Uber Technologies should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 36.35% lower. Uber Technologies currently has a Zacks Rank of #4 (Sell).
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.