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Uber Technologies (UBER) Outpaces Stock Market Gains: What You Should Know September 17, 2024
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Uber Technologies (UBER - Free Report) closed the most recent trading day at $72.78, moving +1.76% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.03% for the day. At the same time, the Dow lost 0.04%, and the tech-heavy Nasdaq gained 0.2%.
Coming into today, shares of the ride-hailing company had lost 3.59% in the past month. In that same time, the Computer and Technology sector lost 1.2%, while the S&P 500 gained 1.54%.
Market participants will be closely following the financial results of Uber Technologies in its upcoming release. The company is forecasted to report an EPS of $0.39, showcasing a 290% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $11.01 billion, showing a 18.44% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.06 per share and revenue of $43.44 billion. These totals would mark changes of +21.84% and +16.53%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Uber Technologies. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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, the Zacks Consensus EPS estimate has shifted 1.53% upward. Currently, Uber Technologies is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Uber Technologies is currently trading at a Forward P/E ratio of 67.64. For comparison, its industry has an average Forward P/E of 30.5, which means Uber Technologies is trading at a premium to the group.
Meanwhile, UBER's PEG ratio is currently 1.27. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Internet - Services industry had an average PEG ratio of 2.16.
The Internet - Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 85, finds itself in the top 34% echelons 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Uber Technologies (UBER - Free Report) closed the most recent trading day at $72.78, moving +1.76% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.03% for the day. At the same time, the Dow lost 0.04%, and the tech-heavy Nasdaq gained 0.2%.
Coming into today, shares of the ride-hailing company had lost 3.59% in the past month. In that same time, the Computer and Technology sector lost 1.2%, while the S&P 500 gained 1.54%.
Market participants will be closely following the financial results of Uber Technologies in its upcoming release. The company is forecasted to report an EPS of $0.39, showcasing a 290% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $11.01 billion, showing a 18.44% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.06 per share and revenue of $43.44 billion. These totals would mark changes of +21.84% and +16.53%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Uber Technologies. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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, the Zacks Consensus EPS estimate has shifted 1.53% upward. Currently, Uber Technologies is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Uber Technologies is currently trading at a Forward P/E ratio of 67.64. For comparison, its industry has an average Forward P/E of 30.5, which means Uber Technologies is trading at a premium to the group.
Meanwhile, UBER's PEG ratio is currently 1.27. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Internet - Services industry had an average PEG ratio of 2.16.
The Internet - Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 85, finds itself in the top 34% echelons 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.