Yahoo Finance Uber Technologies (UBER) Gains But Lags Market: What You Should Know
Uber Technologies (UBER) closed the most recent trading day at $30.53, moving +0.56% from the previous trading session. This change lagged the S&P 500's 1.19% gain on the day. Meanwhile, the Dow gained 0.76%, and the Nasdaq, a tech-heavy index, added 0.29%.
Prior to today's trading, shares of the ride-hailing company had gained 23.21% over the past month. This has outpaced the Computer and Technology sector's gain of 8.49% and the S&P 500's gain of 4.06% in that time.
Investors will be hoping for strength from Uber Technologies as it approaches its next earnings release, which is expected to be February 8, 2023. In that report, analysts expect Uber Technologies to post earnings of -$0.20 per share. This would mark a year-over-year decline of 145.45%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.47 billion, up 46.52% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Uber Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for 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.
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 36.35% lower. Uber Technologies is holding a Zacks Rank of #4 (Sell) right now.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 89, which puts it in the top 36% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Uber Technologies, Inc. (UBER) : Free Stock Analysis Report
