Uber Technologies (UBER) closed the most recent trading day at $36.80, moving -1.6% from the previous trading session. This move lagged the S&P 500's daily loss of 0.9%. At the same time, the Dow lost 0.58%, and the tech-heavy Nasdaq lost 0.93%.
Prior to today's trading, shares of the ride-hailing company had gained 21.94% over the past month. This has outpaced the Computer and Technology sector's gain of 6.54% and the S&P 500's gain of 3.3% in that time.
Investors will be hoping for strength from UBER as it approaches its next earnings release, which is expected to be February 6, 2020.
Investors might also notice recent changes to analyst estimates for UBER. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.93% higher. UBER currently has a Zacks Rank of #3 (Hold).
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 113, putting it in the top 45% 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.