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Uber Technologies (UBER) Outpaces Stock Market Gains: What You Should Know

Uber Technologies (UBER) closed at $30.36 in the latest trading session, marking a +1.13% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.25%. Meanwhile, the Dow gained 0.08%, and the Nasdaq, a tech-heavy index, added 7.26%.

Heading into today, shares of the ride-hailing company had gained 20.51% over the past month, outpacing the Computer and Technology sector's gain of 12.65% and the S&P 500's gain of 5.73% in that time.

Uber Technologies will be looking to display strength as it nears its next earnings release, which is expected to be February 8, 2023. In that report, analysts expect Uber Technologies to post earnings of -$0.20 per share. This would mark a year-over-year decline of 145.45%. Meanwhile, our latest consensus estimate is calling for revenue of $8.54 billion, up 47.72% from the prior-year quarter.

Any recent changes to analyst estimates for Uber Technologies should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.

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. Within the past 30 days, our consensus EPS projection has moved 33.39% lower. Uber Technologies is currently a Zacks Rank #3 (Hold).

The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.

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Uber Technologies, Inc. (UBER) : Free Stock Analysis Report

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Zacks Investment Research