Key Takeaways
- Goldman Sachs reiterated its Buy rating and $110 price target on Uber on Nov. 5, about 61% above today’s price, after a fifth straight quarter of at least 20% bookings growth.
- Uber stock is 32% below its Nov. 3, 2025, close amid robotaxi competition concerns. Its latest report showed slowing Mobility growth and fourth-quarter profit guidance below estimates.
- Goldman’s target is 28x forward earnings, against the 21x Uber has averaged over the past year, while 2027 earnings estimates have barely moved.
- A rebound from about 18x makes sense, but the Street’s $101 average target looks more realistic than Goldman’s $110.
Uber Technologies (UBER) just posted its fifth straight quarter of at least 20% bookings growth, and the stock still trades at about $68.21, 32% below its $99.72 close on Nov. 3, 2025.
That hasn’t shaken Goldman Sachs. On Nov. 5, analyst Eric Sheridan reiterated his Buy rating and $110 price target, about 61% above today’s price.
Two Hits on Uber, Then a Mixed Quarter
In February, Uber missed EPS estimates for the fourth quarter of 2025 and forecast first-quarter profit below estimates. The fiscal 2026 EPS consensus fell from $4.17 to $3.31.
Then came the robotaxi worries. Waymo’s Phoenix deal with Uber lapsed in May. In July, Uber confirmed that Waymo plans to launch its own app in Austin and Atlanta in January 2028, ending Uber’s exclusivity in both cities (Waymo’s current fleet stays on Uber until at least May 2028).
The third-quarter report added concerns about Mobility growth. Gross bookings rose 20% to $59.8 billion, but Mobility bookings growth slowed to 18%, from 22% in the second quarter. CEO Dara Khosrowshahi said on the call that Mobility “came in below our expectations as a result of driver supply not keeping pace with strong consumer demand in several international markets.” Uber also guided fourth-quarter non-GAAP EPS to $0.95 to $0.99, below analysts’ estimates. Investors shrugged it off: the stock rose 4.9% on Nov. 4, to $69.87.
Goldman Is Holding at $110
Goldman kept its call despite a third-quarter Mobility revenue miss. It pointed to management’s word that Mobility trends improved in October, and to Uber’s plan for about 700 fully driverless vehicles on its network by year-end and more than 2,000 in 2027.
Even Goldman’s conviction has limits. Its target was $126 a year ago and $115 in May. Most of the Street went the other way this week: Barclays cut its target to $100 from $106, and KeyBanc to $95 from $105.
TIKR Tracks 50 Analysts on Uber. How Many Say “Buy”?
See the full breakdown of Buy, Hold, and Sell ratings on Uber, along with Wall Street’s revenue and earnings estimates, all in one place. More than 500,000 investors use TIKR to research stocks like this one. See Uber’s Analyst Ratings
Does $110 Add Up for Uber Stock?
Analysts’ average price target has slid over the past year, to $101 on Nov. 2 from $109 a year earlier.
The earnings outlook hasn’t followed it down. Analysts expect normalized EPS to more than double, from $2.45 in fiscal 2025 to $5.51 in fiscal 2028, and the 2027 estimate has barely moved over the past three months, this report included.
The multiple is where the targets split. Uber traded at 17x forward earnings at the Nov. 2 close, and it’s about 18x at today’s price. Goldman’s $110 works out to 28x the next 12 months’ expected earnings, well above the 21x Uber has averaged over the past year and the 25x over three years.
Goldman’s best defense is time. A year from now, the next 12 months will run mostly through 2028, when analysts expect higher earnings, so today’s 28x overstates what $110 asks. Even on the $4.41 analysts expect for 2027, $110 is about 25x, right at the three-year average. The Street’s $101 is about 23x, between the one- and three-year averages.
Closer to $101 Than $110
If estimates hold, $110 would be about 21x the next 12 months’ earnings a year from now, in line with Uber’s one-year average and up from about 18x today. The catch is that most of that window is 2028, and the 2027 estimate has barely moved in three months. Robotaxis are the other risk: if Waymo’s split turns into a pattern, investors won’t pay up for Uber’s network.
At about 18x, Uber is priced for more trouble than this quarter showed, so a rebound makes sense. On the same math, the Street’s $101 works out to about 19x, close to today’s multiple. Goldman’s $110 also needs investors to pay more while robotaxi risk hangs over the stock, so $101 still looks like the more realistic landing over the next 12 months.
The fourth-quarter report, due in early 2027, will show whether October’s Mobility pickup held.
So what is Uber stock actually worth?
TIKR lets you forecast the future price of any stock in less than a minute. Just enter a few assumptions into TIKR’s valuation model and see what Uber could be worth. Start from Wall Street consensus estimates, or adjust the inputs to reflect your own view of the business. It’s free to use.
Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any of the stocks mentioned. Thank you for reading, and happy investing!
