Here’s what Wall Street experts are saying about Uber ahead of earnings

Uber (UBER) is scheduled to report results for its first fiscal quarter before the market opens on Wednesday, May 7, with a conference call scheduled for 8:00 am ET. What to watch for:

EXPECTATIONS: During its last earnings conference call, Uber said that for Q1 2025, it anticipated Gross Bookings of growth of 17% to 21% year-over-year on a constant currency basis, which translates to reported Gross Bookings of $42.0B to $43.5B as the outlook assumes a roughly 5.5 percentage point currency headwind to total reported year-over-year growth; Adjusted EBITDA of $1.79B to $1.89B, which represents 30% to 37% year-over-year growth. Uber also said it anticipated healthier U.S. pricing backdrop in 2025, with mobility delivering 20%-plus growth and delivery growth to remain relatively stable in the first half.

Current consensus EPS and revenue forecasts for Uber’s Q1 stand at 50c and $11.62B, respectively, according to data from Yahoo Finance.

BULLISH AHEAD OF RESULTS: BofA raised the firm’s price target on Uber to $96 from $95, while keeping a Buy rating on the shares ahead of the company’s report due on May 7. For Q1, the firm raised bookings, revenue and EBITDA estimates to $43.5B, $11.73B and $1.89B, respectively, which it notes is above the Street view. BofA, which thinks Delivery was stable in Q1 and U.S. Mobility could have had a modest travel impact from slowing airport trips, offset by strong New Verticals growth, adds in its preview that it expects positive call commentary on the Austin Waymo launch.

SIGNIFICANT UNCERTAINTY: As part of a Q1 preview for the internet sector, Wedbush lowered the firm’s price target on Outperform-rated Uber to $80 from $86. Significant uncertainty has been introduced to the economy given ongoing macro concerns, potential tariff implications, and weaker consumer confidence levels both in the U.S. and internationally, the firm tells investors in a research note. Ahead of the Q1 results, Wedbush broadly reduced 2025 estimates and price targets, citing limited visibility into current economic conditions, and the potential implications of a weaker demand environment. The firm wants to hear from management teams in the coming weeks “to gain better clarity than the current dense fog.

KeyBanc also lowered the firm’s price target on Uber to $80 from $85, keeping an Overweight rating on the shares. The firm’s latest Mobility & Delivery Survey showed stable ride-sharing adoption, albeit with some cautionary flags around consumer price sensitivity and autonomous vehicles gaining traction. KeyBanc views delivery as less impacted than ridesharing.

FTC LAWSUIT: Last month, the Federal Trade Commission said it filed a lawsuit against Uber, alleging the rideshare and delivery company charged consumers for its Uber One subscription service without their consent, failed to deliver promised savings, and made it difficult for users to cancel the service despite its “cancel anytime” promises. “Americans are tired of getting signed up for unwanted subscriptions that seem impossible to cancel,” said FTC Chairman Andrew N. Ferguson. “The Trump-Vance FTC is fighting back on behalf of the American people. Today, we’re alleging that Uber not only deceived consumers about their subscriptions, but also made it unreasonably difficult for customers to cancel.”

In its complaint, the FTC alleges that Uber used deceptive billing and cancellation practices. For example, the complaint alleges: When signing up for Uber One, customers are wrongly promised savings of $25 a month. After signing up, Uber charges consumers before their billing date. When customers try to cancel, Uber makes it extremely difficult. Users can be forced to navigate as many as 23 screens and take as many as 32 actions to cancel, the FTC said. The FTC alleges that the company’s deceptive billing and cancellation practices violate the FTC Act and the Restore Online Shoppers’ Confidence Act.

SENTIMENT: Click here to check out the recent Media Buzz Sentiment on Uber as measured by TipRanks.