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Uber Technologies (UBER) Gains As Market Dips: What You Should Know
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In the latest trading session, Uber Technologies (UBER - Free Report) closed at $42.91, marking a +1.9% move from the previous day. This move outpaced the S&P 500's daily loss of 0.29%. Elsewhere, the Dow lost 0.55%, while the tech-heavy Nasdaq added 1.24%.
Prior to today's trading, shares of the ride-hailing company had gained 4.6% over the past month. This has outpaced the Computer and Technology sector's gain of 1.61% and the S&P 500's gain of 3.1% in that time.
Uber Technologies will be looking to display strength as it nears its next earnings release. On that day, Uber Technologies is projected to report earnings of -$0.02 per share, which would represent year-over-year growth of 98.5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.36 billion, up 15.99% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.05 per share and revenue of $37.69 billion. These totals would mark changes of +101.08% and +18.25%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Uber Technologies. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. The Zacks Consensus EPS estimate has moved 19.05% higher within the past month. Uber Technologies is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Uber Technologies's current valuation metrics, including its Forward P/E ratio of 842.2. Its industry sports an average Forward P/E of 31, so we one might conclude that Uber Technologies is trading at a premium comparatively.
We can also see that UBER currently has a PEG ratio of 18.91. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Internet - Services industry currently had an average PEG ratio of 1.55 as of yesterday's close.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 79, putting it in the top 32% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Uber Technologies (UBER) Gains As Market Dips: What You Should Know
In the latest trading session, Uber Technologies (UBER - Free Report) closed at $42.91, marking a +1.9% move from the previous day. This move outpaced the S&P 500's daily loss of 0.29%. Elsewhere, the Dow lost 0.55%, while the tech-heavy Nasdaq added 1.24%.
Prior to today's trading, shares of the ride-hailing company had gained 4.6% over the past month. This has outpaced the Computer and Technology sector's gain of 1.61% and the S&P 500's gain of 3.1% in that time.
Uber Technologies will be looking to display strength as it nears its next earnings release. On that day, Uber Technologies is projected to report earnings of -$0.02 per share, which would represent year-over-year growth of 98.5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.36 billion, up 15.99% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.05 per share and revenue of $37.69 billion. These totals would mark changes of +101.08% and +18.25%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Uber Technologies. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. The Zacks Consensus EPS estimate has moved 19.05% higher within the past month. Uber Technologies is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Uber Technologies's current valuation metrics, including its Forward P/E ratio of 842.2. Its industry sports an average Forward P/E of 31, so we one might conclude that Uber Technologies is trading at a premium comparatively.
We can also see that UBER currently has a PEG ratio of 18.91. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Internet - Services industry currently had an average PEG ratio of 1.55 as of yesterday's close.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 79, putting it in the top 32% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.