Key Takeaways
- Uber stock has dropped 32% in a year while Q2 gross bookings grew 22%.
- Uber put ~$4B into Delivery Hero shares in Q2 after $3.5B of buybacks in H1, ahead of a $14.8B takeover expected to close in H2 2027.
- Wall Street carries 33 buy ratings, 9 outperforms, 8 holds and 1 sell, with a $101 mean target 48% above the $68 close.
- TIKR’s mid-case model targets $203 by December 2030, implying a 198% total return, or 29% annualized.
Uber stock is down 32% in a year while bookings grew 22%. Analyze UBER on TIKR for free →
Why Uber Stock Is Down 32% While Bookings Keep Growing 22%
Uber Technologies, Inc. (UBER) stock has dropped 32% over the past year to $68 as of September 28, down from $98 a year earlier, even though Q2 gross bookings grew 22% and non-GAAP EPS rose 35%.
The slide follows the capital going out the door. Uber deployed $4 billion into Delivery Hero shares in Q2 while buybacks totaled $3.5 billion for the half, then agreed in July to a $14.8 billion takeover of the German delivery group that will not close until the second half of 2027. It also committed over $10 billion to autonomous vehicles, announced alongside Q3 EPS guidance of $0.84 to $0.88 against a $0.89 consensus estimate.
September piled on. Uber peaked near $80 in late August and has since given back nearly all of its summer rally, with investors fearing Meta’s Muse AI agent could weaken loyalty to incumbents and pulling ride-hailing shares lower on September 22. The 10-year Treasury yield hovered near 4.94% after the Fed’s latest rate increase.
Management reads the gap differently. At Goldman Sachs’ Communacopia + Technology Conference on September 10, CEO Dara Khosrowshahi explained why Uber pursued Delivery Hero at these prices: “we think our stock is really cheap.” He bought 141,000 shares at $71 the same day, and CFO Balaji Krishnamurthy has said repurchases will rebuild over months, not quarters.
The 32% drop prices in capital risk and disruption fear while the earnings line keeps compounding.
How Wall Street Is Pricing Uber Stock After a 32% Slide
Uber stock carries 33 buy ratings, 9 outperforms, 8 holds and 1 sell, and the $101 mean price target sits 48% above the $68 close. Separately, 47 analysts publish a price target, down from 50 a year ago. The mean target stood at $108 when the stock closed at $98, so the Street cut its target 6% while the price fell 32%. The gap opened from the price side, widening from 10% a year ago.
TIKR Values Uber Stock at $203, Nearly Triple Today’s $68 Price
TIKR’s mid-case model values Uber at $203 by December 2030, implying a 198% total return from the current price of $68, or 29% annualized over 4.3 years.
A 29% annual pace sits well above what mature, cash-generating platforms usually compound at, so the model makes a bold claim about how far the market has undervalued Uber’s earnings.
The gap exists because the price has absorbed Delivery Hero, AV spending and AI-agent fears while bookings rose 22% and EPS rose 35%, and every repurchase dollar Uber rebuilds in the coming months narrows it.
TIKR’s model targets $203 for Uber. Run your own assumptions on TIKR for free →
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!
