Uber Technologies (UBER) closed the most recent trading day at $28.33, moving +0.32% from the previous trading session. This change outpaced the S&P 500’s 0.05% loss on the day. At the same time, the Dow added 0.17%, and the tech-heavy Nasdaq lost 0.01%.
Prior to today’s trading, shares of the ride-hailing company had gained 7.83% over the past month. This has lagged the Computer and Technology sector’s gain of 21.05% and the S&P 500’s gain of 21.82% in that time.
Investors will be hoping for strength from UBER as it approaches its next earnings release, which is expected to be May 7, 2020. In that report, analysts expect UBER to post earnings of -$0.76 per share. This would mark year-over-year growth of 66.37%. Meanwhile, our latest consensus estimate is calling for revenue of $3.43 billion, up 10.69% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$2.52 per share and revenue of $14.69 billion, which would represent changes of +63% and +3.84%, respectively, from the prior year.
Any recent changes to analyst estimates for UBER should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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 13.86% lower. UBER currently has a Zacks Rank of #3 (Hold).
The Internet – Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 36, which puts it in the top 15% 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.