Will Q1 Earnings Drive Uber Stock Out Of Its Current Stagnant Trend?

Zinger Key Points
  • Uber Technologies is set to report Q1 earnings on Wednesday.
  • The stock is stuck in a stagnant trend currently, though analysts see about 30% upside.

Wall Street expects Uber Technologies Inc UBER to report 23 cents in EPS and $10.1 billion in revenues when its first-quarter earnings are released Wednesday before market hours.

The stock is up 84.16% over the past year, 16.14% YTD.

Let’s look at what the charts indicate for the ride-hailing company, and how the stock currently maps against Wall Street estimates.

The current trend for Uber stock is relatively stagnant. Further, the stock is experiencing selling pressure, indicating a risk of future bearish movement.

Chart: Benzinga Pro

However, there are conflicting signals from different moving averages. The eight-day simple moving average (SMA) is at $68.95, suggesting a bullish trend, while the 20-day SMA is at $70.79, also indicating bullishness.

However, the 50-day SMA is at $75.09, above the current stock price of $71.75, which is a bearish signal. The 200-day SMA is at $59.24, creating a bullish signal.

Chart: Benzinga Pro

Additionally, the Moving Average Convergence Divergence (MACD) indicator is -1.49, suggesting bearishness, while the Relative Strength Index (RSI) is 50.21 in the Neutral territory, indicating that the stock is neither overbought nor oversold.

The Bollinger Bands have Uber stock treading from the lower band to the upper band, suggesting bullishness.

Overall, the technical indicators for the stock are mixed, with some suggesting bullishness and others indicating bearishness. Investors should carefully consider these factors before making any trading decisions.

Also Read: Uber And Lyft Drivers’ Future Hangs In Balance As Massachusetts Supreme Court Deliberates

Uber Analysts See About 30% Upside

Ratings & Consensus Estimates: The consensus analyst rating on Uber stock stands at a Buy currently with a price target of $77.94. The most recent analyst ratings for Uber stock were released by Oppenheimer, Tigress Financial, and MoffettNathanson, April 11 onwards.

The average price target from these three analysts is $92.67, implying a 29.31% upside potential for the stock.

UBER Price Action: At last check, the company was trading Tuesday at $71.44, down 0.09%.

Read Next: Uber’s Low Growth-Adjusted Multiple Creates An Attractive Entry Point: Morgan Stanley

Image: Pixabay

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