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Uber Technologies (UBER) Gains As Market Dips: What You Should Know
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Uber Technologies (UBER - Free Report) closed the most recent trading day at $31.48, moving +0.13% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.21%. Elsewhere, the Dow lost 0.42%, while the tech-heavy Nasdaq lost 0.64%.
Prior to today's trading, shares of the ride-hailing company had lost 3.94% over the past month. This has lagged the Computer and Technology sector's gain of 10.18% and the S&P 500's gain of 7.71% in that time.
Uber Technologies will be looking to display strength as it nears its next earnings release, which is expected to be May 2, 2023. In that report, analysts expect Uber Technologies to post earnings of -$0.11 per share. This would mark year-over-year growth of 96.38%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.68 billion, up 26.71% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.13 per share and revenue of $36.91 billion, which would represent changes of +97.2% and +15.79%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Uber Technologies. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. Within the past 30 days, our consensus EPS projection remained stagnant. Uber Technologies 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 72, which puts it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow UBER in the coming trading sessions, be sure to utilize Zacks.com.
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Uber Technologies (UBER) Gains As Market Dips: What You Should Know
Uber Technologies (UBER - Free Report) closed the most recent trading day at $31.48, moving +0.13% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.21%. Elsewhere, the Dow lost 0.42%, while the tech-heavy Nasdaq lost 0.64%.
Prior to today's trading, shares of the ride-hailing company had lost 3.94% over the past month. This has lagged the Computer and Technology sector's gain of 10.18% and the S&P 500's gain of 7.71% in that time.
Uber Technologies will be looking to display strength as it nears its next earnings release, which is expected to be May 2, 2023. In that report, analysts expect Uber Technologies to post earnings of -$0.11 per share. This would mark year-over-year growth of 96.38%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.68 billion, up 26.71% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.13 per share and revenue of $36.91 billion, which would represent changes of +97.2% and +15.79%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Uber Technologies. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. Within the past 30 days, our consensus EPS projection remained stagnant. Uber Technologies 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 72, which puts it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow UBER in the coming trading sessions, be sure to utilize Zacks.com.