Uber Technologies (UBER) Dips More Than Broader Markets: What You Should Know
Uber Technologies (UBER) closed at $35.56 in the latest trading session, marking a -1.93% move from the prior day. This change lagged the S&P 500's 0.63% loss on the day. Elsewhere, the Dow lost 0.55%, while the tech-heavy Nasdaq lost 0.1%.
Prior to today's trading, shares of the ride-hailing company had lost 4.45% over the past month. This has lagged the Computer and Technology sector's gain of 8.45% and the S&P 500's gain of 5.91% in that time.
Wall Street will be looking for positivity from UBER as it approaches its next earnings report date. This is expected to be November 5, 2020. On that day, UBER is projected to report earnings of -$0.59 per share, which would represent year-over-year growth of 13.24%. Meanwhile, our latest consensus estimate is calling for revenue of $3.14 billion, down 17.66% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$3.82 per share and revenue of $12.79 billion. These totals would mark changes of +43.91% and -9.58%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for UBER. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 has moved 0.04% lower. UBER is currently a Zacks Rank #3 (Hold).
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 195, putting it in the bottom 23% 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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