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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Uber Technologies: Q4 earnings preview

Uber Technologies expected to post a loss per share in Q4 2021, although the groups mobility operations move closer to pre-Covid-19 pandemic levels.

When is Uber Technologies earnings date?

Uber Technologies, the American mobility service provider with operations in over 900 metropolitan areas worldwide, is scheduled to release its fourth quarter (Q4) earnings for 2021 on Monday 9 February 2022.

Uber Q4 earnings preview, what does ‘The Street’ expect?

The Uber Technologies business has had a particularly tough time since the onset of the Covid-19 pandemic. Food delivery initiatives have scaled through acquisition and circumstance to support the business, although the hail taxi side mobility service (its core operation) has suffered.

The group is starting to see demand pick up as the economy unlocks. December 2021 was noted as a particularly strong month by group chief executive officer (CEO) Dara Khosrowshahi, although the group continues to operate below pre-Covid-19 pandemic levels.

Maintaining driver capacity through incentivization has added to the groups cost base. This is furthered by UK and USA minimum wage and benefit requirements for contractors.

In terms of guidance Uber has suggested the following in terms of its upcoming Q4 2021 results:

A consensus of estimates from Refinitiv arrives at the following expectations for the Q4 2021 Uber results:

How to trade the Uber results

A Refinitiv poll of 44 analysts maintain a long-term average rating of buy for Uber (as of 1 February 2022), with 19 of these analysts recommending a strong buy, 18 recommending a buy, six hold, one sell and zero with a strong sell recommendation on the stock.

92% of IG clients with open positions on Uber (as of 1 February 2022) expect the share price to rise in the near term, while 8% of IG clients with open positions on the company expect the price to fall.

Uber results: technical analysis

The share price of Uber after correcting along with the tech sector this year, looks to have found near-term support around the 35.05 level.

The price now looks to have formed a bullish price reversal off this level and from oversold territory. 40.20 becomes the initial resistance target from the move. A break above this level (confirmed with a close) suggests 42.25 to be a further resistance target. Traders who are long might consider sing a close below the 35.05 support level as a stop loss indication for the trade.

Summary

  • Uber reports Q4 2021 results on 9 February 2022
  • The group has a broad range for Adjusted EBITDA of $25 million to $75 million over the reporting period
  • The groups cost base has increased over the year due to regulatory hurdles and increased driver incentives
  • A loss per share of $0.33 is expected for the quarter
  • The average broker rating for the stock is ‘buy’
  • The majority of IG Clients with open positions on Uber expect the price to rise
  • In the short term we have seen a rebound for the stock from oversold territory

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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