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Uber Technologies (UBER) Stock Falls Amid Market Uptick: What Investors Need to Know
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In the latest trading session, Uber Technologies (UBER - Free Report) closed at $64.32, marking a -0.36% move from the previous day. This change lagged the S&P 500's 0.29% gain on the day. On the other hand, the Dow registered a loss of 0.25%, and the technology-centric Nasdaq increased by 0.43%.
The the stock of ride-hailing company has risen by 4.6% in the past month, leading the Computer and Technology sector's gain of 3.67% and the S&P 500's gain of 2.08%.
The investment community will be closely monitoring the performance of Uber Technologies in its forthcoming earnings report. The company is scheduled to release its earnings on February 7, 2024. The company's earnings per share (EPS) are projected to be $0.15, reflecting a 48.28% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $9.77 billion, showing a 13.46% escalation compared to the year-ago quarter.
It is also important to note the recent changes 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.23% decrease. As of now, Uber Technologies holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Uber Technologies is holding a Forward P/E ratio of 60.14. This represents a premium compared to its industry's average Forward P/E of 25.98.
The Internet - Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 103, finds itself in the top 41% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Uber Technologies (UBER) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest trading session, Uber Technologies (UBER - Free Report) closed at $64.32, marking a -0.36% move from the previous day. This change lagged the S&P 500's 0.29% gain on the day. On the other hand, the Dow registered a loss of 0.25%, and the technology-centric Nasdaq increased by 0.43%.
The the stock of ride-hailing company has risen by 4.6% in the past month, leading the Computer and Technology sector's gain of 3.67% and the S&P 500's gain of 2.08%.
The investment community will be closely monitoring the performance of Uber Technologies in its forthcoming earnings report. The company is scheduled to release its earnings on February 7, 2024. The company's earnings per share (EPS) are projected to be $0.15, reflecting a 48.28% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $9.77 billion, showing a 13.46% escalation compared to the year-ago quarter.
It is also important to note the recent changes 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.23% decrease. As of now, Uber Technologies holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Uber Technologies is holding a Forward P/E ratio of 60.14. This represents a premium compared to its industry's average Forward P/E of 25.98.
The Internet - Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 103, finds itself in the top 41% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.