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Why Uber Technologies (UBER) Dipped More Than Broader Market Today
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In the latest close session, Uber Technologies (UBER - Free Report) was down 1.85% at $70.48. The stock fell short of the S&P 500, which registered a loss of 0.11% for the day. Meanwhile, the Dow lost 0.56%, and the Nasdaq, a tech-heavy index, added 0.35%.
The ride-hailing company's shares have seen a decrease of 1.59% over the last month, not keeping up with the Computer and Technology sector's gain of 0.88% and the S&P 500's gain of 0.51%.
The investment community will be closely monitoring the performance of Uber Technologies in its forthcoming earnings report. On that day, Uber Technologies is projected to report earnings of $0.71 per share, which would represent a year-over-year decline of 14.46%. Our most recent consensus estimate is calling for quarterly revenue of $13.27 billion, up 15.02% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.36 per share and a revenue of $57.96 billion, representing changes of -36.6% and +11.42%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Uber Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.4% higher within the past month. Uber Technologies currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Uber Technologies is presently being traded at a Forward P/E ratio of 21.4. This denotes a premium relative to the industry average Forward P/E of 14.56.
Meanwhile, UBER's PEG ratio is currently 6.54. 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. As of the close of trade yesterday, the Internet - Services industry held an average PEG ratio of 1.99.
The Internet - Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 171, placing it within the bottom 30% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow UBER in the coming trading sessions, be sure to utilize Zacks.com.
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Why Uber Technologies (UBER) Dipped More Than Broader Market Today
In the latest close session, Uber Technologies (UBER - Free Report) was down 1.85% at $70.48. The stock fell short of the S&P 500, which registered a loss of 0.11% for the day. Meanwhile, the Dow lost 0.56%, and the Nasdaq, a tech-heavy index, added 0.35%.
The ride-hailing company's shares have seen a decrease of 1.59% over the last month, not keeping up with the Computer and Technology sector's gain of 0.88% and the S&P 500's gain of 0.51%.
The investment community will be closely monitoring the performance of Uber Technologies in its forthcoming earnings report. On that day, Uber Technologies is projected to report earnings of $0.71 per share, which would represent a year-over-year decline of 14.46%. Our most recent consensus estimate is calling for quarterly revenue of $13.27 billion, up 15.02% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.36 per share and a revenue of $57.96 billion, representing changes of -36.6% and +11.42%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Uber Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.4% higher within the past month. Uber Technologies currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Uber Technologies is presently being traded at a Forward P/E ratio of 21.4. This denotes a premium relative to the industry average Forward P/E of 14.56.
Meanwhile, UBER's PEG ratio is currently 6.54. 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. As of the close of trade yesterday, the Internet - Services industry held an average PEG ratio of 1.99.
The Internet - Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 171, placing it within the bottom 30% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow UBER in the coming trading sessions, be sure to utilize Zacks.com.