Uber Technologies (UBER) Stock Slides as Market Rises: Facts to Know Before You Trade

Uber Technologies (UBER) closed at $72.16 in the latest trading session, marking a -4.42% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.79%. Elsewhere, the Dow gained 0.26%, while the tech-heavy Nasdaq added 1.52%. Heading into today, shares of the ride-hailing company had gained 2.35% over the past month, outpacing the Computer and Technology sector's loss of 4.61% and the S&P 500's loss of 1.82%.Investors will be eagerly watching for the performance of Uber Technologies in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.84, reflecting a 33.33% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $14.16 billion, reflecting a 11.91% rise from the equivalent quarter last year. For the full year, the Zacks Consensus Estimates are projecting earnings of $2.95 per share and revenue of $57.72 billion, which would represent changes of -44.34% and +10.96%, respectively, from the prior year. Any recent changes to analyst estimates for Uber Technologies should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook. Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.03% upward. 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 25.61. Its industry sports an average Forward P/E of 14.82, so one might conclude that Uber Technologies is trading at a premium comparatively. We can also see that UBER currently has a PEG ratio of 6.42. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Internet - Services industry stood at 1.58 at the close of the market yesterday. The Internet - Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 160, placing it within the bottom 35% of over 250 industries. The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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. Radical New Technology Could Hand Investors Huge GainsQuantum Computing is the next technological revolution, and it could be even more advanced than AI.While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.See Top Quantum Stocks Now >>This article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks