TLDR
- Uber (UBER) stock fell about 1% on Friday to around $70.
- Guggenheim reiterated a Buy rating and $125 price target, about 77% upside.
- Analyst Taylor Manley cited growth, low valuation and a stronger autonomous vehicle roadmap.
- The stock is down 25% versus a 16% gain for the S&P 500, tied largely to robotaxi concerns.
- Wall Street holds a Strong Buy consensus with an average price target of $102.80.
Uber (UBER) stock fell about 1% on Friday to around $70. The drop came on the same day Guggenheim reiterated its Buy rating.
Analyst Taylor Manley kept his price target at $125. That implies about 77% upside from current levels.
The stock is down more than 14% so far this year. It sits closer to its 52-week low of $65.41 than its one-year high of $100.35.
Why Guggenheim Stays Bullish
Manley called Uber a “compelling investment opportunity.” He pointed to strong fundamentals, a historically low valuation and a stronger autonomous vehicle roadmap.
He noted that few internet companies of Uber’s size grow revenue near 20% and profit near 40%. Yet Uber trades at a discount to the market.
The stock has dropped 25%, while the S&P 500 has gained 16%. Manley said Uber has “meaningfully underperformed the market.”
That gap exists even though 2027 Gross Bookings forecasts are 9% higher than a year ago. Guggenheim’s own numbers imply upside to the sell-side consensus.
Manley also said Uber looks better placed heading into 2027 than it did in 2026. It’s a small vote of confidence for a stock that hasn’t had many lately.
The Robotaxi Race
Manley says Uber’s valuation depends mostly on how investors view its place in autonomous vehicles. He expects AV deployments on the platform to more than double by the fourth quarter of 2027.
He describes a “three-horse race” between Waymo, Zoox and Tesla. That makes for a tough field for Uber.
The three leaders have widened their lead in 2026. Part of that is because other rivals rolled out more slowly than expected.
Still, Manley sees a possible boost to sentiment. It would come if one of Uber’s other AV partners proves to be a “formidable competitor.”
Other firms have also stood by the stock. Rosenblatt, Citizens and BTIG each kept a positive rating with a $100 target.
Wells Fargo raised its target to $92, and Bernstein reiterated Outperform with a $95 target. Bernstein also pointed to AV deployments in 15 cities by the end of 2026.
Uber agreed to buy ezCater in an all-cash deal valued at $2.3 billion. BTIG said Uber also plans to buy the rest of Delivery Hero, with total spending near $13 billion.
Wall Street holds a Strong Buy consensus on Uber, with 27 Buys and three Holds over the past three months. The average price target is $102.80, about 46% above the current price.
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