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Uber Technologies (UBER) Outpaces Stock Market Gains: What You Should Know

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Uber Technologies (UBER - Free Report) closed at $35.01 in the latest trading session, marking a +0.49% move from the prior day. This move outpaced the S&P 500's daily gain of 0.19%. Meanwhile, the Dow gained 0.31%, and the Nasdaq, a tech-heavy index, added 0.08%.

Prior to today's trading, shares of the ride-hailing company had gained 17.11% over the past month. This has outpaced the Computer and Technology sector's gain of 6.59% and the S&P 500's gain of 3.72% in that time.

Investors will be hoping for strength from UBER as it approaches its next earnings release, which is expected to be February 6, 2020.

Any recent changes to analyst estimates for UBER should also be noted by investors. 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 company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. UBER is currently sporting a Zacks Rank of #3 (Hold).

The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 181, which puts it in the bottom 30% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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