Uber Technologies (UBER) closed the latest trading day at $77.92, indicating a +0.06% change from the previous session's end. This move outpaced the S&P 500's daily loss of 0.21%. Elsewhere, the Dow saw a downswing of 0.14%, while the tech-heavy Nasdaq depreciated by 0.05%.
Shares of the ride-hailing company have appreciated by 11.07% over the course of the past month, outperforming the Computer and Technology sector's gain of 9.62% and the S&P 500's gain of 5.94%.
Investors will be eagerly watching for the performance of Uber Technologies in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 31, 2024. The company's upcoming EPS is projected at $0.41, signifying a 310% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $11 billion, indicating a 18.38% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $1.08 per share and a revenue of $43.43 billion, demonstrating changes of +24.14% and +16.5%, respectively, from the preceding year.
Any recent changes to analyst estimates for Uber Technologies should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 2.44% rise in the Zacks Consensus EPS estimate. Uber Technologies presently features a Zacks Rank of #3 (Hold).
In the context of valuation, Uber Technologies is at present trading with a Forward P/E ratio of 71.89. This denotes a premium relative to the industry's average Forward P/E of 33.01.
We can additionally observe that UBER currently boasts a PEG ratio of 1.35. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Internet - Services industry had an average PEG ratio of 2.15 as trading concluded yesterday.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 89, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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