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Uber Technologies (UBER) Stock Slides as Market Rises: Facts to Know Before You Trade
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Uber Technologies (UBER - Free Report) closed the most recent trading day at $72.42, moving -2.7% from the previous trading session. This change lagged the S&P 500's daily gain of 0.72%. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq added 1.12%.
The ride-hailing company's stock has climbed by 5.26% in the past month, exceeding the Computer and Technology sector's loss of 6.12% and the S&P 500's loss of 0.9%.
The investment community will be paying close attention to the earnings performance of Uber Technologies in its upcoming release. The company's earnings per share (EPS) are projected to be $0.83, reflecting a 31.75% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $14.19 billion, showing a 12.18% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.95 per share and revenue of $57.86 billion, which would represent changes of -44.34% and +11.23%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Uber Technologies. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.08% higher. Currently, Uber Technologies is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, Uber Technologies currently has a Forward P/E ratio of 25.23. This represents a premium compared to its industry average Forward P/E of 15.37.
One should further note that UBER currently holds a PEG ratio of 6.32. 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 the market closed yesterday, the Internet - Services industry was having an average PEG ratio of 1.6.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 107, putting it in the top 44% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.
View the Zacks #1 Rank List
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Uber Technologies (UBER) Stock Slides as Market Rises: Facts to Know Before You Trade
Uber Technologies (UBER - Free Report) closed the most recent trading day at $72.42, moving -2.7% from the previous trading session. This change lagged the S&P 500's daily gain of 0.72%. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq added 1.12%.
The ride-hailing company's stock has climbed by 5.26% in the past month, exceeding the Computer and Technology sector's loss of 6.12% and the S&P 500's loss of 0.9%.
The investment community will be paying close attention to the earnings performance of Uber Technologies in its upcoming release. The company's earnings per share (EPS) are projected to be $0.83, reflecting a 31.75% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $14.19 billion, showing a 12.18% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.95 per share and revenue of $57.86 billion, which would represent changes of -44.34% and +11.23%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Uber Technologies. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.08% higher. Currently, Uber Technologies is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, Uber Technologies currently has a Forward P/E ratio of 25.23. This represents a premium compared to its industry average Forward P/E of 15.37.
One should further note that UBER currently holds a PEG ratio of 6.32. 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 the market closed yesterday, the Internet - Services industry was having an average PEG ratio of 1.6.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 107, putting it in the top 44% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.