Uber Technologies (UBER) Stock Dips While Market Gains: Key Facts

The latest trading session saw Uber Technologies (UBER) ending at $68.98, denoting a -0.32% adjustment from its last day's close. This change lagged the S&P 500's daily gain of 0.87%. Meanwhile, the Dow experienced a rise of 0.67%, and the technology-dominated Nasdaq saw an increase of 1.11%.

The the stock of ride-hailing company has fallen by 13.75% in the past month, lagging the Computer and Technology sector's loss of 5.98% and the S&P 500's loss of 3.97%.

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 May 8, 2024. In that report, analysts expect Uber Technologies to post earnings of $0.21 per share. This would mark year-over-year growth of 362.5%. Simultaneously, our latest consensus estimate expects the revenue to be $10.07 billion, showing a 14.14% escalation compared to the year-ago quarter.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.22 per share and revenue of $43.28 billion, indicating changes of +40.23% and +16.09%, respectively, compared to the previous year.

Investors should also take note of any recent adjustments to analyst estimates for Uber Technologies. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 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 0.63% higher within the past month. At present, Uber Technologies boasts a Zacks Rank of #1 (Strong Buy).

Digging into valuation, Uber Technologies currently has a Forward P/E ratio of 56.69. This signifies a premium in comparison to the average Forward P/E of 23.79 for its industry.

One should further note that UBER currently holds a PEG ratio of 1.1. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Internet - Services stocks are, on average, holding a PEG ratio of 2.05 based on yesterday's closing prices.

The Internet - Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 45, placing it within the top 18% of over 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.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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