Uber's Q2 earnings call on Tuesday night will determine whether the demand side can "turn the corner"

Uber Technologies (UBER.US) is set to report second-quarter earnings after the bell on Tuesday, with Visible Alpha's consensus estimate showing revenue rising from $9.23 billion to $10.56 billion, and net income from $394 million to $652 million, and earnings per share from $0.19 to $0.31.

Key metric: total reservations

Analysts at UBS cited Sensor Tower data in a Monday note that Uber Eats's monthly active users (MAUs) converting to daily active users (DAUs) in the second quarter outpaced its namesake ride-hailing platform.

Analysts said they viewed the user data as a "proxy" for the company's total reservations for the quarter. UBS expects Uber Eats's total reservations to be higher than consensus, while Uber's "mobility" business ride-hailing reservations to be lower.

UBS raised its price target for Uber to $102 from $95, and its price targets for Uber's peer Lyft and DoorDash to $15 and $125 from $19 and $130, respectively.

Business focus: new features and partnerships

Uber announced a series of new features and partnerships in the quarter, including several announced at its annual Go-Get event in May, when the company announced plans to offer Uber One discount subscriptions to students and expanded its partnership with Costco.

The company also recently announced a feature to help users estimate average wait times and fares globally in thousands of cities.

Analysts have previously indicated that new features could be a potential source of revenue growth for the company. UBS analysts said Monday that Uber's new vertical business would be a key factor for investors to watch in terms of its contribution to the company's performance.

Uber shares were trading down 4.56% at $56.30 at the time of publication.