In the latest trading session, Uber Technologies (UBER) closed at $81.90, down -1.56% from the previous day. The stock's performance lagged behind the S&P 500's daily gain of 0.47%. At the same time, the Dow gained 0.79% and the tech-heavy Nasdaq gained 0.28%.

Year-to-date, shares of the ride-hailing service provider had risen 14.32% over the past month. During the same period, the Computer and Technology sector gained 3.88%, while the S&P 500 gained 3.48%.

The investment community will be closely watching Uber Technologies' earnings performance in the upcoming release. The company is scheduled to report earnings on October 31, 2024. The company is expected to report earnings per share of $0.41, up 310% from the corresponding quarter last year. Meanwhile, the latest consensus estimate is calling for revenue of $11 billion, up 18.38% from the prior-year quarter.

UBER's full-year Zacks Consensus Estimates are calling for earnings of $1.08 per share and revenue of $43.43 billion. These results would represent year-over-year changes of +24.14% and +16.5%, respectively.

Investors should also note any recent changes to analyst estimates for Uber Technologies. Such recent changes usually signify the changing landscape of short-term business trends. Therefore, positive estimate revisions convey analysts' confidence in the company's business performance and earnings potential.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model takes these estimate changes into account and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive track record of exceeding expectations as verified by third-party audits, with stocks ranked #1 posting an average annual Deliver returns of +25%. since 1988. Over the past 30 days, the Zacks Consensus EPS estimate has moved 2.44% higher. Uber Technologies currently holds a Zacks Rank #2 (Buy).

Looking at valuation, Uber Technologies has a Forward P/E ratio of 76.82. This suggests a premium compared to the industry's Forward P/E ratio of 37.19.

Meanwhile, UBER's PEG ratio is currently 1.44. Similar to the widely accepted P/E ratio, the PEG ratio also takes into account the company's forecast earnings growth. As of yesterday's close, the Internet Services industry had an average PEG ratio of 2.28.

The story continues

The Internet services industry is part of the computer and technology sector. Currently, this industry has a Zacks Industry Rank of 79, putting it in the top 32% of over 250 industries.

The Zacks Industry Rank evaluates the strength of our individual industry groups by determining the average Zacks Rank of the individual stocks that make up the groups. Our research shows that the top rated 50% of industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all of these stock-influencing metrics and more during upcoming trading sessions.

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

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