This story originally appeared on Zacks
Uber Technologies (UBER) closed at $42.87 in the latest trading session, marking a -0.39% move from the prior day. This change was narrower than the S&P 500’s 1.42% loss on the day. At the same time, the Dow lost 0.49%, and the tech-heavy Nasdaq lost 0.47%.
Coming into today, shares of the ride-hailing company had gained 13.77% in the past month. In that same time, the Computer and Technology sector lost 4.18%, while the S&P 500 gained 0.39%.
Investors will be hoping for strength from Uber Technologies as it approaches its next earnings release, which is expected to be February 9, 2022. The company is expected to report EPS of -$0.33, up 38.89% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.35 billion, up 69.09% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Uber Technologies. Recent revisions tend to reflect the latest near-term business trends. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Uber Technologies is currently sporting a Zacks Rank of #3 (Hold).
The Internet – Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 212, putting it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow UBER in the coming trading sessions, be sure to utilize Zacks.com.
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