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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 at $29.68 in the latest trading session, marking a +0.3% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.38%. Meanwhile, the Dow lost 0.68%, and the Nasdaq, a tech-heavy index, lost 10.47%.
Prior to today's trading, shares of the ride-hailing company had lost 1.6% over the past month. This has was narrower than the Computer and Technology sector's loss of 1.96% and lagged the S&P 500's gain of 2.61% in that time.
Investors will be hoping for strength from Uber Technologies as it approaches its next earnings release, which is expected to be May 2, 2023. The company is expected to report EPS of -$0.10, up 96.71% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.7 billion, up 26.9% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.12 per share and revenue of $36.9 billion, which would represent changes of +97.42% and +15.75%, respectively, from the prior year.
Investors should also note any 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 10.63% higher. Uber Technologies is currently a Zacks Rank #3 (Hold).
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 153, which puts it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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 at $29.68 in the latest trading session, marking a +0.3% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.38%. Meanwhile, the Dow lost 0.68%, and the Nasdaq, a tech-heavy index, lost 10.47%.
Prior to today's trading, shares of the ride-hailing company had lost 1.6% over the past month. This has was narrower than the Computer and Technology sector's loss of 1.96% and lagged the S&P 500's gain of 2.61% in that time.
Investors will be hoping for strength from Uber Technologies as it approaches its next earnings release, which is expected to be May 2, 2023. The company is expected to report EPS of -$0.10, up 96.71% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.7 billion, up 26.9% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.12 per share and revenue of $36.9 billion, which would represent changes of +97.42% and +15.75%, respectively, from the prior year.
Investors should also note any 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 10.63% higher. Uber Technologies is currently a Zacks Rank #3 (Hold).
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 153, which puts it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.