Uber’s Fourth Quarter Outlook: Strong Trends Amid Mixed Signals

Uber Technologies Inc UBER is set to release its fourth-quarter earnings on Wednesday. Analysts predict earnings per share (EPS) of 49 cents, paired with revenues of $11.77 billion. The report will come before the market opens.

The stock has seen a 0.95% increase over the past year and is up 9.67% year-to-date.

Next, we take a closer look at current trends in Uber stock and its performance against analyst expectations.

Recent Trends in Uber Stock

Currently, Uber stock displays a strongly bullish trend. The share price is at $69.27, trading above its five-day, 20-day, and 50-day exponential moving averages (EMAs). This suggests positive buying interest, even though recent fluctuations exhibit some uncertainty.

Chart created using Benzinga Pro

The indicators reveal an overall bullish sentiment. The eight-day simple moving average (SMA) sits at $67.77, the 20-day SMA is at $67.14, and the 50-day SMA is at $66.04. All of these figures support the notion of short-term strength. However, the stock remains below its 200-day SMA of $69.74, which may present resistance moving forward.

Momentum indicators reflect a mix of sentiments. The Moving Average Convergence Divergence (MACD) stands at 0.70, suggesting lingering bullish momentum. Conversely, the Relative Strength Index (RSI) is at 61.41, indicating a neutral position and showing that the stock is not yet overbought.

For investors, a move above the 200-day SMA could indicate a significant bullish trend, while a decline below the 50-day SMA might signal potential weaknesses.

Analyst Ratings and Expectations

Current consensus ratings for Uber stock are positive, with an average rating of Buy and a price target of $91.81. Analysts from UBS, Cantor Fitzgerald, and Piper Sandler suggest a potential upside of 29.45% for Uber stock.

Current Stock Performance

At the time of publication on Tuesday, Uber stock was trading up 1.33% at $69.91.

Looking Ahead

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