In the latest trading session, Uber Technologies (UBER) closed at $33.65, marking a -1.49% move from the previous day. This change was narrower than the S&P 500's 3.53% loss on the day. Meanwhile, the Dow lost 3.44%, and the Nasdaq, a tech-heavy index, lost 3.73%.
Coming into today, shares of the ride-hailing company had lost 3.58% in the past month. In that same time, the Computer and Technology sector gained 4.77%, while the S&P 500 gained 2.89%.
UBER will be looking to display strength as it nears its next earnings release, which 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%. Our most recent consensus estimate is calling for quarterly revenue of $3.13 billion, down 17.96% from the year-ago period.
UBER's full-year Zacks Consensus Estimates are calling for earnings of -$3.82 per share and revenue of $12.74 billion. These results would represent year-over-year changes of +43.91% and -9.95%, respectively.
Any recent changes to analyst estimates for UBER should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.26% lower. 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 203, which puts it in the bottom 20% 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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