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Ridesharing stock Uber Technologies Inc. (UBER - Free Report) is expected to report earnings on Nov 7 (before market open). Let’s take a closer look at its fundamentals ahead of the earnings release
Earnings Whispers
Uber has an Earnings ESP of -53.13% and a Zacks Rank #1 (Strong Buy). According to our methodology, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 increases the chances of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Uber saw no earnings estimate revision for the to-be-reported quarter in the past 90 days. The Zacks Consensus Estimate for earnings is 13 cents (up 121.3% year over year) and for sales is $9.74 billion (up 13.47% year over year). The earnings track record of the company is decent. It delivered a four-quarter average earnings surprise of 474.82% with past three quarters seeing earnings surprises.
What Does Analysts Believe?
As Uber Technologiesprepares to report earnings this week, KeyBanc Capital Markets analyst Justin Patterson took an optimistic view on the stock, as quoted on MarketWatch. He upgraded Uber shares to overweight from sector-weight late Thursday, on expectations of continued improvement in the company’s financials and opportunities in advertising.
Patterson anticipates that Uber will see stable margin improvement into 2024, and he also thinks the stock’s valuation can surge higher, as Airbnb trades at a higher multiple of enterprise value to 2025 estimated adjusted EBITDA, despite slower growth for the alternative-accommodations platform.
Average Brokerage Recommendation Going Into Earnings
Uber Technologies currently has an average brokerage recommendation (ABR) of 1.22 on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell etc.) made by 34 brokerage firms.
ETFs to Watch
While investors will closely watch Uber in light of the to-be-reported earnings, ETFs that are heavy on Uber should also be watched. Uber-heavy ETFs will also be impacted with their earnings.
ETFs with Uber Technologies Exposure
iShares US Transportation ETF ((IYT - Free Report) ) – Uber has 13.30% exposure
First Trust US Equity Opportunities ETF ((FPX - Free Report) ) – Uber has 8.91% exposure
Franklin Disruptive Commerce ETF ((BUYZ - Free Report) ) – Uber has 5.75% exposure
Image: Bigstock
Uber Earnings Preview: ETFs in Focus
Ridesharing stock Uber Technologies Inc. (UBER - Free Report) is expected to report earnings on Nov 7 (before market open). Let’s take a closer look at its fundamentals ahead of the earnings release
Earnings Whispers
Uber has an Earnings ESP of -53.13% and a Zacks Rank #1 (Strong Buy). According to our methodology, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 increases the chances of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Uber saw no earnings estimate revision for the to-be-reported quarter in the past 90 days. The Zacks Consensus Estimate for earnings is 13 cents (up 121.3% year over year) and for sales is $9.74 billion (up 13.47% year over year). The earnings track record of the company is decent. It delivered a four-quarter average earnings surprise of 474.82% with past three quarters seeing earnings surprises.
What Does Analysts Believe?
As Uber Technologiesprepares to report earnings this week, KeyBanc Capital Markets analyst Justin Patterson took an optimistic view on the stock, as quoted on MarketWatch. He upgraded Uber shares to overweight from sector-weight late Thursday, on expectations of continued improvement in the company’s financials and opportunities in advertising.
Patterson anticipates that Uber will see stable margin improvement into 2024, and he also thinks the stock’s valuation can surge higher, as Airbnb trades at a higher multiple of enterprise value to 2025 estimated adjusted EBITDA, despite slower growth for the alternative-accommodations platform.
Average Brokerage Recommendation Going Into Earnings
Uber Technologies currently has an average brokerage recommendation (ABR) of 1.22 on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell etc.) made by 34 brokerage firms.
ETFs to Watch
While investors will closely watch Uber in light of the to-be-reported earnings, ETFs that are heavy on Uber should also be watched. Uber-heavy ETFs will also be impacted with their earnings.
ETFs with Uber Technologies Exposure
iShares US Transportation ETF ((IYT - Free Report) ) – Uber has 13.30% exposure
First Trust US Equity Opportunities ETF ((FPX - Free Report) ) – Uber has 8.91% exposure
Franklin Disruptive Commerce ETF ((BUYZ - Free Report) ) – Uber has 5.75% exposure
ProShares On-Demand ETF ((OND - Free Report) ) – Uber has 5.61% exposure
Clockwise Core Equity & Innovation ETF ((TIME - Free Report) ) – Uber has 5.57% exposure