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

Uber (UBER) is scheduled to report results for its second fiscal quarter before the market opens on Wednesday, August 6, 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 Q2 2025, it anticipated Gross Bookings of $45.75B-$47.25B, representing growth of 16% to 20% year-over-year on a constant currency basis. Its outlook assumed a roughly 1.5 percentage point currency headwind to total reported year-over-year growth. Adjusted EBITDA of $2.02B-$2.12B, which represents 29% to 35% year-over-year growth.

Current consensus EPS and revenue forecasts for Uber’s Q2 stand at 62c and $12.47B, respectively, according to data from Yahoo Finance.

BETTER THAN EXPECTED Q2: Last week, Stifel analyst Mark Kelley raised the firm’s price target on Uber to $117 from $110 and kept a Buy rating on the shares. Heading into Q2 earnings season for the firm’s e-commerce and consumer app coverage, the analyst notes that third-party data suggests a better Q2 than expected as the Trump administration has either struck more favorable deals or pushed out tariff implementation while waiting for deals. The firm says it was “too conservative” in its models following “liberation day” and raises some estimates among the group.

POSITIVE TRENDS: Bernstein also raised the firm’s price target on Outperform-rated Uber to $110 from $95. As the firm noted after the Q1 print, continued stability in Mobility and Delivery trends at Uber would be largely positive. Q2 data points are supportive, travel may have bottomed, and FX is less of a headwind looking forward. Considering the reinvestment mandate, Bernstein sees more upside to out-year estimates, as these efforts bolster GB growth. From here, upside likely lies more in Uber’s ability to compound free cash flow than the multiple, though there remains a wide gap to DoorDash (DASH) – concrete data points around AV fragmentation are likely needed to drive multiple upside, the firm adds. Bernstein doesn’t expect much to change on the AV front this quarter.

Meanwhile, Roth Capital analyst Rohit Kulkarni raised the firm’s price target on Uber to $110 from $93 and kept a Buy rating on the shares ahead of the Q2 report on August 6. The firm sees potential upside to Uber’s Q2 bookings estimates but says buy-side expectations for Q3 guidance “may cap” the stock’s near-term opportunity. Roth remains a long-term holder of the stock and would be incremental buyers on weakness. The recent developments in robotaxis have benefited Uber’s valuation multiple, the analyst tells investors in a research note.

CONFIDENCE IN Q2 ESTIMATES: Keeping a Buy rating on the shares, Needham analyst Bernie McTernan raised the firm’s price target on Uber to $109 from $100. According to the firm’s mobility tracker, pricing is moving slightly higher q/q for Uber and Lyft (LYFT), and coupled with healthy demand data points, this gives the firm greater confidence in its Q2 estimates, the analyst tells investors in a research note. Tesla (TSLA) expanding their robotaxi footprint and Waymo potentially launching alone in Miami and DC could weigh on the multiple, but Uber’s ability to compound bookings over the near term is less of a debate, the firm added.

PARTNERSHIP: Last month, Lucid Group (LCID), Nuro and Uber announced a next-generation premium global robotaxi program created exclusively for the Uber ride-hailing platform. Expected to first launch later next year in a major U.S. city, the new robotaxi service combines the software-defined vehicle architecture of the Lucid Gravity, the scalability and capability of the Nuro Driver Level 4 autonomy system, and Uber’s global network and fleet management. Uber aims to deploy 20,000 or more Lucid vehicles equipped with the Nuro Driver over six years. The vehicles will be owned and operated by Uber or its third-party fleet partners and made available to riders exclusively via the Uber platform. The first Lucid-Nuro robotaxi prototype is already operating autonomously on a closed circuit at Nuro’s Las Vegas proving grounds. As part of a deepening relationship with each partner, Uber plans to make multi-hundred-million-dollar investments in both Nuro and Lucid.

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