Uber (UBER) Stock Forecast & Price Target

Uber Technologies is viewed favorably because its platform has scale, diversification, and growing engagement, with operations in over 70 countries, more than 200 million monthly users, and cross-platform customers who spend 3x more and are ~35% better retained. Its autonomous vehicle strategy is gaining traction through partnerships like Wayve, with AV mobility trips up 10x y/y, live in eight cities, and strong early demand in London from 140k users, while management expects to commit more than $10B over the next few years to expand that capability. On the core business side, estimated 3Q bookings of $59.9B to $60B and EBITDA of $2.89B to $2.93B, plus Uber One reaching over 70% of Delivery Gross Bookings, support a view that healthy growth, efficiency, and platform leverage can drive durable compounding.

Uber Technologies is facing a negative setup because its core mobility and delivery businesses remain exposed to persistent regulatory and labor-classification risk, which could constrain driver supply and lift operating costs. The company also faces intense competition, execution risk in international expansion and grocery/retail delivery, and possible AV disintermediation as Tesla’s 2Q robotaxi miles fell to about 700k from roughly 1mm in 1Q26. Although severance and restructuring may help costs, they can weigh on near-term GAAP earnings, while the planned reduction in personnel costs of about $990mm, or roughly 6% of 2026E GAAP operating expenses, underscores that profitability still depends on aggressive cost discipline.