Uber Inc. (UBER) PT Raised to $110 at Goldman Sachs

Goldman Sachs analyst Eric Sheridan raised the price target on Uber Inc. (NYSE: UBER) to $110.00 (from $96.00) while maintaining a Conviction Buy rating.

The analyst comments "In its Q1’25 earnings report, UBER highlighted a number of themes including: 1) solid topline trends across Q1’25 and the forward Q2 commentary with sustained trips growth in Mobility & widening merchant relationships and increasing frequency supporting Delivery growth; 2) continued track record of compounding Adj EBITDA with consistent execution on incremental margins; 3) Five new/expanded autonomous vehicle (AV) partnerships announced in the past week and consistent framing that UBER is positioning itself as a network operator in a hybrid/AV world similar to the view we presented in our January AV/GB growth deep-dive; & 4) Around $1.8bn in repurchases in the quarter with a reaffirmed commitment to balance capital returns with key growth investments and margin improvement. Over the short term, our recent investor conversations would indicate that the debates will remain centered on the macroeconomic demand landscape, how platform pricing performs if such volatility ensues, & the broader AV secular theme (which investors continue to express long term concern about). We reiterate our Buy rating (on CL) on UBER shares and increase our 12-month price target from $96 to $110 as we adjust our forward operating estimates for this earnings report and mgmt. forward commentary."

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