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In the latest trading session, Uber Technologies (UBER) closed at $61.23, marking a +0.33% move from the previous day. This change outpaced the S&P 500's 2.95% loss on the day. Meanwhile, the Dow experienced a drop of 2.59%, and the technology-dominated Nasdaq saw a decrease of 3.56%.
Coming into today, shares of the ride-hailing company had lost 11.72% in the past month. In that same time, the Computer and Technology sector gained 7.08%, while the S&P 500 gained 3.15%.
The investment community will be closely monitoring the performance of Uber Technologies in its forthcoming earnings report. The company's upcoming EPS is projected at $0.55, signifying a 16.67% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $11.78 billion, indicating a 18.51% upward movement from the same quarter last year.
UBER's full-year Zacks Consensus Estimates are calling for earnings of $1.89 per share and revenue of $43.78 billion. These results would represent year-over-year changes of +117.24% and +17.43%, respectively.
It is also important to note the recent changes to analyst estimates for Uber Technologies. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.62% higher. Uber Technologies presently features a Zacks Rank of #2 (Buy).
Looking at its valuation, Uber Technologies is holding a Forward P/E ratio of 32.27. For comparison, its industry has an average Forward P/E of 24.58, which means Uber Technologies is trading at a premium to the group.
It is also worth noting that UBER currently has a PEG ratio of 0.76. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Internet - Services industry currently had an average PEG ratio of 2.24 as of yesterday's close.