Uber Reports Earnings Today. Here’s What to Expect. $UBER

Uber Technologies is set to report third-quarter earnings after the market closes on Monday.

The global ride-hailing firm has seen rough times since going public in May. The stock (ticker: UBER) has fallen about 30% from its $45 IPO price. Its North America-focused rival Lyft hasn’t fared any better. Lyft stock (LYFT) is down more than 40% from its $72 IPO price.

Lyft perked up last week when it reported its third-quarter earnings, which beat analyst expectations and signaled a faster-than-expected path to positive adjusted earnings before interest, taxes, depreciation, and amortization.

For Uber, Wall Street expects sales of $3.6 billion, and a net loss of 82 cents a share, according to FactSet. About two-thirds of the 38 analysts listed by FactSet have a Buy or equivalent rating. Wall Street’s average price target is $48.88.

RBC Capital Markets’ Mark S.F. Mahaney and Joseph Spak wrote in a note on Friday that Wall Street’s estimates for the third quarter are reasonable, with an equal chance the company’s actual report beats or misses estimates.

They expect bookings of $16.7 billion on revenue of $3.7 billion. Still, they see the company reporting a greater-than-expected net loss at 89 cents a share. They noted that Lyft cited less competitive discounting in the U.S., which would likely benefit Uber’s results.

Wedbush analyst Ygal Arounian wrote this quarter will be crucial given waning optimism in the future of both ride-sharing firms.

“Uber will be reporting results a few days before the official lockup period begins on Wednesday, in which over $20 billion more of stock (763 million shares) hits the market and could cause an avalanche of selling as early investors and insiders hit the bid, which remains a major Street worry around near-term pressure,” he noted.

He hopes the company provides more details on its bottom line strategy in its conference call. He expects the company to beat expectations with revenue of $3.85 billion.

“A core tenet of our longer term positive thesis on the name is around Uber’s ability to morph its unrivaled ridesharing platform into a broader consumer engine with Uber Eats, Uber Freight, and autonomous initiatives to hit its full monetization potential at scale,” he added.