Uber Technologies (UBER) Gains As Market Dips: What You Should Know
Uber Technologies (UBER) closed the most recent trading day at $33.09, moving +0.12% from the previous trading session. This change outpaced the S&P 500's 1.04% loss on the day. Meanwhile, the Dow lost 0.38%, and the Nasdaq, a tech-heavy index, lost 5.88%.
Heading into today, shares of the ride-hailing company had gained 29.35% over the past month, outpacing the Computer and Technology sector's gain of 18.95% and the S&P 500's gain of 8.97% 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 -$0.21 per share. This would mark a year-over-year decline of 147.73%. Our most recent consensus estimate is calling for quarterly revenue of $8.5 billion, up 47.08% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Uber Technologies. These revisions help to show the ever-changing nature of near-term business trends. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 87.43% lower. 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 156, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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