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Uber Technologies (UBER) Dips More Than Broader Markets: What You Should Know

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In the latest trading session, Uber Technologies (UBER) closed at $37.86, marking a -1.43% move from the previous day. This change lagged the S&P 500's 0.97% loss on the day. Meanwhile, the Dow lost 0.96%, and the Nasdaq, a tech-heavy index, added 0.23%.

Heading into today, shares of the ride-hailing company had lost 8.48% over the past month, lagging the Computer and Technology sector's loss of 4.93% and the S&P 500's loss of 0.78% in that time.

Wall Street will be looking for positivity from Uber Technologies as it approaches its next earnings report date. This is expected to be February 9, 2022. On that day, Uber Technologies is projected to report earnings of -$0.33 per share, which would represent year-over-year growth of 38.89%. Meanwhile, our latest consensus estimate is calling for revenue of $5.35 billion, up 69.09% from the prior-year quarter.

Investors should also note any recent changes to analyst estimates for Uber Technologies. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Uber Technologies is currently sporting a Zacks Rank of #3 (Hold).

The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 170, putting it in the bottom 34% 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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