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Uber Technologies (UBER) Stock Sinks As Market Gains: Here's Why
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Uber Technologies (UBER - Free Report) ended the recent trading session at $85.62, demonstrating a -1.11% change from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.38%. At the same time, the Dow added 0.24%, and the tech-heavy Nasdaq gained 0.24%.
Heading into today, shares of the ride-hailing company had lost 4.24% over the past month, lagging the Computer and Technology sector's gain of 11.61% and the S&P 500's gain of 6.6%.
The investment community will be closely monitoring the performance of Uber Technologies in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.6, reflecting a 27.66% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $12.45 billion, indicating a 16.32% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.87 per share and a revenue of $50.69 billion, signifying shifts of -37.06% and +15.25%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Uber Technologies. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. The Zacks Consensus EPS estimate has moved 1.3% higher within the past month. At present, Uber Technologies boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Uber Technologies is holding a Forward P/E ratio of 30.15. For comparison, its industry has an average Forward P/E of 18.8, which means Uber Technologies is trading at a premium to the group.
Investors should also note that UBER has a PEG ratio of 1.11 right now. 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 was holding an average PEG ratio of 1.38 at yesterday's closing price.
The Internet - Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 140, placing it within the bottom 44% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Uber Technologies (UBER) Stock Sinks As Market Gains: Here's Why
Uber Technologies (UBER - Free Report) ended the recent trading session at $85.62, demonstrating a -1.11% change from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.38%. At the same time, the Dow added 0.24%, and the tech-heavy Nasdaq gained 0.24%.
Heading into today, shares of the ride-hailing company had lost 4.24% over the past month, lagging the Computer and Technology sector's gain of 11.61% and the S&P 500's gain of 6.6%.
The investment community will be closely monitoring the performance of Uber Technologies in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.6, reflecting a 27.66% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $12.45 billion, indicating a 16.32% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.87 per share and a revenue of $50.69 billion, signifying shifts of -37.06% and +15.25%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Uber Technologies. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. The Zacks Consensus EPS estimate has moved 1.3% higher within the past month. At present, Uber Technologies boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Uber Technologies is holding a Forward P/E ratio of 30.15. For comparison, its industry has an average Forward P/E of 18.8, which means Uber Technologies is trading at a premium to the group.
Investors should also note that UBER has a PEG ratio of 1.11 right now. 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 was holding an average PEG ratio of 1.38 at yesterday's closing price.
The Internet - Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 140, placing it within the bottom 44% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.