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Here's Why Uber Technologies (UBER) Gained But Lagged the Market Today
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Uber Technologies (UBER - Free Report) closed the most recent trading day at $69.49, moving +1.28% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 1.75%. Elsewhere, the Dow gained 1.86%, while the tech-heavy Nasdaq added 2.54%.
Coming into today, shares of the ride-hailing company had lost 8.15% in the past month. In that same time, the Computer and Technology sector lost 3.11%, while the S&P 500 lost 1.63%.
Investors will be eagerly watching for the performance of Uber Technologies in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.84, marking a 33.33% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $14.16 billion, up 11.91% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $2.95 per share and a revenue of $57.72 billion, demonstrating changes of -44.34% and +10.97%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Uber Technologies. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
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, the Zacks Consensus EPS estimate has moved 0.03% lower. At present, Uber Technologies boasts a Zacks Rank of #3 (Hold).
With respect to valuation, Uber Technologies is currently being traded at a Forward P/E ratio of 23.28. This expresses a premium compared to the average Forward P/E of 15.6 of its industry.
It's also important to note that UBER currently trades at a PEG ratio of 5.83. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Services industry had an average PEG ratio of 1.7 as trading concluded yesterday.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 175, putting it in the bottom 29% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
View the Zacks #1 Rank List
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Here's Why Uber Technologies (UBER) Gained But Lagged the Market Today
Uber Technologies (UBER - Free Report) closed the most recent trading day at $69.49, moving +1.28% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 1.75%. Elsewhere, the Dow gained 1.86%, while the tech-heavy Nasdaq added 2.54%.
Coming into today, shares of the ride-hailing company had lost 8.15% in the past month. In that same time, the Computer and Technology sector lost 3.11%, while the S&P 500 lost 1.63%.
Investors will be eagerly watching for the performance of Uber Technologies in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.84, marking a 33.33% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $14.16 billion, up 11.91% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $2.95 per share and a revenue of $57.72 billion, demonstrating changes of -44.34% and +10.97%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Uber Technologies. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
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, the Zacks Consensus EPS estimate has moved 0.03% lower. At present, Uber Technologies boasts a Zacks Rank of #3 (Hold).
With respect to valuation, Uber Technologies is currently being traded at a Forward P/E ratio of 23.28. This expresses a premium compared to the average Forward P/E of 15.6 of its industry.
It's also important to note that UBER currently trades at a PEG ratio of 5.83. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Services industry had an average PEG ratio of 1.7 as trading concluded yesterday.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 175, putting it in the bottom 29% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.