Uber Technologies (UBER) closed the latest trading day at $73.10, indicating a +1.13% change from the previous session's end. The stock's change was more than the S&P 500's daily gain of 0.79%. Meanwhile, the Dow experienced a rise of 0.78%, and the technology-dominated Nasdaq saw an increase of 0.64%.

The ride-hailing company's stock has climbed by 1.02% in the past month, exceeding the Computer and Technology sector's loss of 4.81% and the S&P 500's loss of 3.56%.

The investment community will be paying close attention to the earnings performance of Uber Technologies in its upcoming release. In that report, analysts expect Uber Technologies to post earnings of $0.50 per share. This would mark year-over-year growth of 256.25%. Alongside, our most recent consensus estimate is anticipating revenue of $11.6 billion, indicating a 14.49% upward movement from the same quarter last year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $2.53 per share and revenue of $50.55 billion, which would represent changes of -44.52% and +14.95%, respectively, from the prior year.

Investors should also pay attention to any latest changes in analyst estimates for Uber Technologies. 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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.2% downward. Uber Technologies currently has a Zacks Rank of #3 (Hold).

Digging into valuation, Uber Technologies currently has a Forward P/E ratio of 28.56. This signifies a premium in comparison to the average Forward P/E of 18.13 for its industry.

We can additionally observe that UBER currently boasts a PEG ratio of 0.79. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Internet - Services industry held an average PEG ratio of 1.18.

The Internet - Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 142, this industry ranks in the bottom 43% of all industries, numbering over 250.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.

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

This article originally published on Zacks Investment Research (zacks.com).

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