Uber Technologies (UBER) Stock Moves -0.24%: What You Should Know

The most recent trading session ended with Uber Technologies (UBER) standing at $66.15, reflecting a -0.24% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily loss of 1.11%. Elsewhere, the Dow lost 0.42%, while the tech-heavy Nasdaq lost 1.89%.The ride-hailing company's shares have seen an increase of 0.87% over the last month, not keeping up with the Computer and Technology sector's gain of 1.83% and outstripping the S&P 500's loss of 1.7%.The upcoming earnings release of Uber Technologies will be of great interest to investors. On that day, Uber Technologies is projected to report earnings of $0.55 per share, which would represent a year-over-year decline of 16.67%. Alongside, our most recent consensus estimate is anticipating revenue of $11.77 billion, indicating a 18.46% upward movement from the same quarter last year.It is also important to note the recent changes to analyst estimates for Uber Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 moved 0.15% lower. Right now, Uber Technologies possesses a Zacks Rank of #3 (Hold).Digging into valuation, Uber Technologies currently has a Forward P/E ratio of 26.22. This signifies a premium in comparison to the average Forward P/E of 23.71 for its industry.Also, we should mention that UBER has a PEG ratio of 0.62. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Internet - Services industry had an average PEG ratio of 1.65 as trading concluded yesterday.The Internet - Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 42, placing it within the top 17% of over 250 industries.The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks