Key Stats for Uber Stock
- Price change for Uber stock in the last 6 months: -15%
- $UBER Stock Price as of Jul. 22: $70
- 52-Week High: $102
- $UBER Stock Price Target: $104
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What Happened?
Uber (UBER) stock is in focus today after the company confirmed it cut 10% of jobs within its customer service, or “community operations,” team. Uber said the move is meant to simplify its structure, cut down on siloed teams, and lean more heavily into AI tools.
Megha Yethatika, Uber’s VP of global community operations, told staff in a memo that the organization had become “too complex and siloed” and that AI can’t scale on top of “fragmented processes.”
Workers who had been remote were also told to move to a hub office, in line with Uber’s ongoing return-to-office push.
This is the company’s second round of job cuts in under two months, following a 23% reduction to its people division in June after a new division president took over.
Uber isn’t alone here. Companies like Block and Oracle have also pointed to AI as a reason for recent layoffs. Even so, Uber says it’s still hiring for more than 500 open roles, including engineers to support its growing robotaxi partnerships.
This news also comes shortly after Uber closed its roughly $13.7 billion acquisition of Delivery Hero, a deal that adds 24 new delivery markets to Uber’s footprint.
That acquisition equals about 9% of Uber’s total market cap, showing just how sizable the move was for the company.
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What the Market Is Telling Us About Uber Stock
Wall Street’s reaction to Uber stock has been mixed but mostly positive.
Benchmark kept its Hold rating on Uber stock following the Delivery Hero deal, saying it wants to see how integration plays out region by region before getting more bullish.
Other firms are more optimistic.
- Citizens rates Uber stock Market Outperform with a $100 price target.
- Guggenheim has a Buy rating and $125 target, pointing to Uber’s autonomous vehicle plans, which are expected to expand to 18 cities by year-end.
- TD Cowen also rates Uber stock a Buy with a $118 target, citing strength in delivery, and expects Q2 gross bookings near $57.1 billion, up over 22% year-over-year.
- Jefferies rounds things out with a Buy rating and $110 target, watching whether Mobility bookings growth can hold up through the rest of the year.
With most price targets sitting well above the current share price, analysts appear to see real upside for Uber stock, even as the company works through internal restructuring and digests a major acquisition.
The layoffs themselves look less like a warning sign and more like Uber trying to run leaner while it invests in bigger bets like AI and autonomous vehicles.
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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 stocks mentioned. Thank you for reading, and happy investing!
