Is Uber Technologies (UBER) Stock Outpacing Its Computer and Technology Peers This Year?
Investors focused on the Computer and Technology space have likely heard of Uber Technologies (UBER), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Uber Technologies is one of 630 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. UBER is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for UBER's full-year earnings has moved 17.10% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, UBER has moved about 38.03% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 10.27%. As we can see, Uber Technologies is performing better than its sector in the calendar year.
To break things down more, UBER belongs to the Internet - Services industry, a group that includes 50 individual companies and currently sits at #108 in the Zacks Industry Rank. On average, stocks in this group have gained 12.85% this year, meaning that UBER is performing better in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to UBER as it looks to continue its solid performance.
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