Uber Technologies (UBER) Gains As Market Dips: What You Should Know

Uber Technologies (UBER) closed the latest trading day at $74.35, indicating a +1.82% change from the previous session's end. This change outpaced the S&P 500's 0.22% loss on the day. On the other hand, the Dow registered a loss of 0.03%, and the technology-centric Nasdaq decreased by 0.33%.Coming into today, shares of the ride-hailing company had lost 10.03% in the past month. In that same time, the Computer and Technology sector lost 12%, while the S&P 500 lost 7.48%.Investors will be eagerly watching for the performance of Uber Technologies in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.51, marking a 259.38% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $11.61 billion, reflecting a 14.58% rise from the equivalent quarter last year.UBER's full-year Zacks Consensus Estimates are calling for earnings of $2.54 per share and revenue of $50.58 billion. These results would represent year-over-year changes of -44.3% and +15.02%, respectively.It's also important for investors to be aware of any recent modifications 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.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.57% higher. Uber Technologies is holding a Zacks Rank of #3 (Hold) right now.Looking at valuation, Uber Technologies is presently trading at a Forward P/E ratio of 28.79. This denotes a premium relative to the industry's average Forward P/E of 21.73.Investors should also note that UBER has a PEG ratio of 0.8 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Internet - Services stocks are, on average, holding a PEG ratio of 1.3 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 150, placing it within the bottom 41% of over 250 industries.The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Uber Technologies, Inc. (UBER): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks