Uber Technologies (UBER) Gains As Market Dips: What You Should Know

In the latest trading session, Uber Technologies (UBER) closed at $27.87, marking a +1.24% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.8%. At the same time, the Dow lost 0.3%, and the tech-heavy Nasdaq lost 0.03%.

Prior to today's trading, shares of the ride-hailing company had lost 9.65% over the past month. This has lagged the Computer and Technology sector's loss of 6.95% and the S&P 500's loss of 5.13% 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 November 1, 2022. The company is expected to report EPS of -$0.17, up 26.09% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.02 billion, up 65.46% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$4.64 per share and revenue of $31.33 billion, which would represent changes of -1684.62% and +79.5%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for Uber Technologies. 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.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.02% lower within the past month. Uber Technologies currently has 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 50, which puts it in the top 20% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.

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