In the latest trading session, Uber Technologies (UBER - Free Report) closed at $28.87, marking a -0.69% move from the previous day. This move lagged the S&P 500's daily gain of 0.64%. Meanwhile, the Dow gained 0.57%, and the Nasdaq, a tech-heavy index, added 0.6%.
Coming into today, shares of the ride-hailing company had lost 14.5% in the past month. In that same time, the Computer and Technology sector lost 1.05%, while the S&P 500 lost 1.87%.
UBER will be looking to display strength as it nears its next earnings release, which is expected to be November 4, 2019.
Investors might also notice recent changes to analyst estimates for UBER. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 1.65% higher. UBER is holding a Zacks Rank of #3 (Hold) right now.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 161, putting it in the bottom 37% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.