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

Zacks Equity Research
·2-min read

Uber Technologies (UBER) closed at $33.14 in the latest trading session, marking a -0.03% move from the prior day. This move lagged the S&P 500's daily gain of 1.05%. Elsewhere, the Dow gained 1.44%, while the tech-heavy Nasdaq added 0.66%.

Coming into today, shares of the ride-hailing company had gained 6.59% in the past month. In that same time, the Computer and Technology sector gained 6.34%, while the S&P 500 lost 1.56%.

Wall Street will be looking for positivity from UBER as it approaches its next earnings report date. This is expected to be August 6, 2020. In that report, analysts expect UBER to post earnings of -$0.76 per share. This would mark year-over-year growth of 83.9%. Our most recent consensus estimate is calling for quarterly revenue of $2.28 billion, down 27.87% from the year-ago period.

UBER's full-year Zacks Consensus Estimates are calling for earnings of -$3.50 per share and revenue of $13.26 billion. These results would represent year-over-year changes of +48.6% and -6.24%, respectively.

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It is also important to note the recent changes to analyst estimates for UBER. 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.

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. The Zacks Consensus EPS estimate has moved 0.1% lower within the past month. UBER is holding a Zacks Rank of #3 (Hold) 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 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.

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
 
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