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Uber Technologies (UBER) Falls More Steeply Than Broader Market: What Investors Need to Know
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In the latest trading session, Uber Technologies (UBER - Free Report) closed at $71.43, marking a -1.66% move from the previous day. This change lagged the S&P 500's daily loss of 0.45%. Elsewhere, the Dow lost 0.63%, while the tech-heavy Nasdaq lost 0.78%.
The ride-hailing company's stock has dropped by 3.15% in the past month, falling short of the Computer and Technology sector's loss of 1.27% and the S&P 500's loss of 1.99%.
Market participants will be closely following the financial results of Uber Technologies in its upcoming release. The company's earnings per share (EPS) are projected to be $1.09, reflecting a 64.95% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $14.74 billion, showing a 9.44% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.45 per share and revenue of $57.95 billion, indicating changes of -34.91% and +11.4%, respectively, compared to the previous 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. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
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.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.12% increase. Uber Technologies is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Uber Technologies has a Forward P/E ratio of 21.04 right now. This represents a premium compared to its industry average Forward P/E of 15.86.
It is also worth noting that UBER currently has a PEG ratio of 5.75. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Internet - Services industry had an average PEG ratio of 1.56.
The Internet - Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 166, placing it within the bottom 33% of over 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
View the Zacks #1 Rank List
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Uber Technologies (UBER) Falls More Steeply Than Broader Market: What Investors Need to Know
In the latest trading session, Uber Technologies (UBER - Free Report) closed at $71.43, marking a -1.66% move from the previous day. This change lagged the S&P 500's daily loss of 0.45%. Elsewhere, the Dow lost 0.63%, while the tech-heavy Nasdaq lost 0.78%.
The ride-hailing company's stock has dropped by 3.15% in the past month, falling short of the Computer and Technology sector's loss of 1.27% and the S&P 500's loss of 1.99%.
Market participants will be closely following the financial results of Uber Technologies in its upcoming release. The company's earnings per share (EPS) are projected to be $1.09, reflecting a 64.95% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $14.74 billion, showing a 9.44% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.45 per share and revenue of $57.95 billion, indicating changes of -34.91% and +11.4%, respectively, compared to the previous 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. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
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.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.12% increase. Uber Technologies is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Uber Technologies has a Forward P/E ratio of 21.04 right now. This represents a premium compared to its industry average Forward P/E of 15.86.
It is also worth noting that UBER currently has a PEG ratio of 5.75. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Internet - Services industry had an average PEG ratio of 1.56.
The Internet - Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 166, placing it within the bottom 33% of over 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 follow all of these stock-moving metrics, and many more, on Zacks.com.