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Here's Why Uber Technologies (UBER) is a Strong Momentum Stock

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

Is This 1 Momentum Stock a Screaming Buy Right Now?

For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

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Uber Technologies (UBER)

Uber Technologies, based in San Francisco, CA, was incorporated in Delaware in July 2010. The company went public in May 2019. Its IPO price was $45. Uber closed its IPO on May 14. During the process, the company issued and sold 180 million shares of its common stock.

UBER boasts a Momentum Style Score of A and VGM Score of B, and holds a Zacks Rank #1 (Strong Buy) rating. Shares of Uber Technologies has seen some interesting price action recently; the stock is down 6.5% over the past one week and up 1% over the past four weeks. And in the last one-year period, UBER has gained 59.6%. As for the stock's trading volume, 15,885,288 shares on average were traded over the last 20 days.

Momentum investors also pay close attention to a company's earnings. For UBER, 14 analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.35 to $0.42 per share for 2023. UBER boasts an average earnings surprise of 474.8%.

With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding UBER to their portfolios.

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

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Zacks Investment Research