Uber Technologies (UBER) is set to release its Q1 earnings on May 7. The analysts currently forecast earnings of $0.51 per share, against a loss of $0.32 reported in last year’s quarter. Meanwhile, revenue is expected to rise 14.8% year-over-year to $11.63 billion. Ahead of the earnings report, technical indicators suggest that Uber stock is a Buy, on a one-day timeframe, which implies upside potential.
Looking ahead, the company is using AI to optimize routes, pricing, and driver efficiency, which helps boost profitability. At the same time, Uber is expanding delivery services, such as Uber Eats and freight logistics, which continue to drive long-term revenue growth.
Analyzing UBER Stock’s Technical Indicators
According to TipRanks’ easy-to-understand technical analysis tool, Uber stock is currently on an upward trend. The stock’s 50-day Exponential Moving Average (EMA) is 74.33, while its price is $85.43, implying a bullish signal. Further, its shorter duration EMA (20 days) also signals a Buy.
Moreover, the Rate of Change (ROC) is a momentum-based technical indicator. It measures the percentage change in a stock’s price between the current price and the price from a specific number of periods ago. Typically, a ROC above zero confirms an uptrend. Uber stock currently has an ROC of 16.6, which signals a Buy.
Is UBER a Good Stock to Buy?
On TipRanks, UBER stock has a Strong Buy consensus rating based on 30 Buys and three Holds assigned in the last three months. The average Uber stock price target of $90.20 suggests an upside potential of 5.58% from its current price. Year-to-date, shares of the company have gained about 42%.
