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Why Uber Technologies (UBER) Dipped More Than Broader Market Today
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The most recent trading session ended with Uber Technologies (UBER - Free Report) standing at $63.12, reflecting a -0.83% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily loss of 0.56%. At the same time, the Dow lost 0.25%, and the tech-heavy Nasdaq lost 0.59%.
Prior to today's trading, shares of the ride-hailing company had gained 2.46% over the past month. This has outpaced the Computer and Technology sector's gain of 1.27% and the S&P 500's gain of 1.2% in that time.
Investors will be eagerly watching for the performance of Uber Technologies in its upcoming earnings disclosure. The company is expected to report EPS of $0.15, down 48.28% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.77 billion, up 13.46% from the year-ago period.
Investors should also take note of any recent adjustments to analyst estimates for Uber Technologies. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 1.61% rise in the Zacks Consensus EPS estimate. As of now, Uber Technologies holds a Zacks Rank of #2 (Buy).
In terms of valuation, Uber Technologies is currently trading at a Forward P/E ratio of 58.15. This signifies a premium in comparison to the average Forward P/E of 23.76 for its industry.
The Internet - Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 65, finds itself in the top 26% echelons 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Why Uber Technologies (UBER) Dipped More Than Broader Market Today
The most recent trading session ended with Uber Technologies (UBER - Free Report) standing at $63.12, reflecting a -0.83% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily loss of 0.56%. At the same time, the Dow lost 0.25%, and the tech-heavy Nasdaq lost 0.59%.
Prior to today's trading, shares of the ride-hailing company had gained 2.46% over the past month. This has outpaced the Computer and Technology sector's gain of 1.27% and the S&P 500's gain of 1.2% in that time.
Investors will be eagerly watching for the performance of Uber Technologies in its upcoming earnings disclosure. The company is expected to report EPS of $0.15, down 48.28% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.77 billion, up 13.46% from the year-ago period.
Investors should also take note of any recent adjustments to analyst estimates for Uber Technologies. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 1.61% rise in the Zacks Consensus EPS estimate. As of now, Uber Technologies holds a Zacks Rank of #2 (Buy).
In terms of valuation, Uber Technologies is currently trading at a Forward P/E ratio of 58.15. This signifies a premium in comparison to the average Forward P/E of 23.76 for its industry.
The Internet - Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 65, finds itself in the top 26% echelons 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.