Uber Technologies (NYSE:UBER) could present an appealing opportunity for investors, given the notable uptick in the company’s earnings estimates. As the stock has been on the rise recently, this upward trajectory may persist, fueled by ongoing improvements in its earnings outlook.
The positive trend in estimate revisions for this ride-hailing giant reflects a growing optimism among analysts regarding its earnings potential, which could translate into upward movement in its stock price. Research has consistently shown a strong correlation between trends in earnings estimate revisions and short-term stock price performance.
Consensus earnings estimates for both the next quarter and the full year have seen significant upward revisions for Uber, reflecting a high level of consensus among analysts in raising their forecasts.
Revisions for Current Quarter Estimates
The current quarter earnings estimate of $0.19 per share signifies a substantial increase of +337.5% compared to the figure reported a year ago.
Over the last 30 days, the Consensus Estimate for Uber has risen by 23.48%, with eight estimates moving higher and one moving lower.
Revisions for Current Year Estimates
For the full year, Uber is anticipated to earn $1.17 per share, indicating a year-over-year change of +34.48%.
There has been a positive trend in estimate revisions for the current year as well, with eight estimates moving up and three moving down over the past month. This has resulted in a 7.17% increase in the consensus estimate.
In Conclusion
While robust estimate revisions have attracted considerable investment and propelled Uber’s stock 9.4% higher over the past four weeks, there may still be room for further upside potential. Thus, investors may find it prudent to consider adding Uber to their portfolios at this juncture.
Featured Image: Unsplash @ Tingey Injury Law Firm
Author Stephanie Bédard-Châteauneuf 
