Uber Technologies, Inc. (NYSE:UBER) is trading lower on Thursday as risk appetite cools across equities and traders lean away from higher-beta consumer names. The Nasdaq is down 0.11% while the S&P 500 has shed 0.26%.
Earnings Snapshot
This week, the company reported first-quarter revenue of $13.20 billion, up 14% year over year, but slightly below analyst estimates of $13.29 billion. Adjusted earnings came in at 72 cents per share, ahead of the 70-cent consensus estimate.
For the second quarter, Uber expects gross bookings between $56.25 billion and $57.75 billion, representing constant-currency growth of 18% to 22%. The company forecast adjusted earnings of 78 cents to 82 cents per share, compared with analyst estimates of 79 cents.
Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price forecast of $105.60. Recent analyst moves include:
- Truist Securities: Buy (Raises forecast to $112.00) (May 7)
- Wells Fargo: Overweight (Raises forecast to $102.00) (May 7)
- Piper Sandler: Overweight (Raises forecast to $105.00) (May 7)
Ulta Beauty Joins Uber Eats Marketplace
Separately, on Wednesday, Uber and Ulta Beauty, Inc. (NASDAQ:ULTA) announced that more than 1,500 Ulta Beauty stores are now available on the Uber Eats marketplace, expanding same-day beauty and wellness delivery across the U.S. ahead of Mother’s Day.
Customers can shop thousands of products from more than 600 brands, including makeup, skincare, haircare and fragrance, through the Uber Eats app for on-demand or scheduled delivery.
The partnership marks another step in Uber Eats’ expansion beyond food delivery into retail categories such as beauty, electronics and home improvement.
Technical Analysis
Uber is trading above its short-term trend gauges—about 3.5% above the 20-day SMA ($74.94) and 4.5% above the 50-day SMA ($74.18)—which suggests the recent bounce is still intact. But it’s still 8.8% below the 200-day SMA ($84.96), keeping the longer-term trend pressure in place.
The bigger-picture setup remains mixed: the 20-day SMA is above the 50-day SMA (a near-term bullish tilt), but the death cross from January (50-day below the 200-day) is a reminder that rallies can still run into overhead supply. That lines up with the stock sitting essentially on top of its 100-day SMA ($76.95), a level that often acts like a “line in the sand” during choppy consolidations.
For momentum, MACD is the cleaner read right now: it’s above its signal line and the histogram is positive, pointing to improving momentum versus the prior downswing. In plain English, when MACD is above its signal line, it suggests downside pressure is easing even if the longer-term trend hasn’t fully flipped.
- Key Resistance: $78.50
- Key Support: $68.50
How Uber Ranks On Value, Growth And Momentum
Below is the Benzinga Edge scorecard for Uber Technologies, highlighting its strengths and weaknesses compared to the broader market:
- Value: Neutral (Score: 50.68) — The stock is fairly valued relative to peers.
- Growth: Strong (Score: 87.92) — Indicates robust growth potential.
- Momentum: Weak (Score: 18.93) — Stock is underperforming the broader market.
The Verdict: Uber Technologies’ Benzinga Edge signal reveals a growth-heavy profile, but weak momentum suggests challenges in the current market environment. Investors may want to monitor the stock closely as it navigates these dynamics.
UBER Top ETF Holdings And Passive Flow Risk
- Tremblant Global ETF (NYSE:TOGA): 4.84% Weight
- Dana Unconstrained Equity ETF (NYSE:DUNK): 4.60% Weight
- Pacer U.S. Cash Cows Growth ETF (NYSE:BUL): 4.92% Weight
Significance: Because UBER carries significant weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.
UBER Stock Price Activity: Uber Technologies shares were down 3.51% at $76.39 at the time of publication on Thursday, according to Benzinga Pro data.
Photo via Shutterstock
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