UBER
The vibes: still bullish, just less exuberant
Uber didn’t exactly get a standing ovation from the market on Thursday — shares slipped even as the company posted an upbeat first quarter. That’s the kind of reaction that says, “Nice job, now prove it again.”
Analysts mostly kept their positive ratings in place, but the price targets are starting to look a little more like a group chat debate than a consensus. Goldman Sachs kept a Buy, but cut its target to $115 from $125. JPMorgan stayed Overweight and nudged its target up to $110 from $105. Needham also held a Buy and left its target at $109.
Why investors should care
The real story here isn’t one analyst’s spreadsheet tweak. It’s that Uber is still checking a lot of boxes:
- Gross bookings and EBITDA came in above the high end of guidance
- Uber One topped 50 million members, up 50% year over year
- Members are stickier, spend more, and seem to love the subscription loop
- Mobility and delivery both showed enough strength to keep the growth narrative humming
The one buzzkill? Autonomous vehicles are still hanging over the stock like a sequel nobody asked for. But even with that overhang, the company’s core business is still showing up looking annoyingly resilient.
The bigger picture
Uber is in that awkward phase where the business is doing well, but the stock is already trying to price in perfection. That can make even a good quarter feel a little underwhelming. Still, when a company keeps growing this fast and keeps expanding its ecosystem, investors usually don’t mind a few analyst target tweaks along the way. Big picture: the Uber story is still alive and rolling — just with a slightly smaller victory lap.