Top Analysts Raise UBER Stock Price Targets After Strong Q2 Earnings

Uber Technologies’ (UBER) strong second-quarter earnings have impressed Wall Street, prompting several top analysts to raise their price targets on the stock. Robust revenue growth, improved bookings, and solid guidance have boosted investor confidence in the ride-hailing giant’s long-term outlook.

For context, Uber’s revenue in Q2 reached $10.7 billion, marking an 18% year-over-year growth. The company also announced a $20 billion share buyback program.

Wall Street Remains Bullish

Following stellar results, top Wall Street analysts expressed their optimism on UBER stock by raising their price targets.

Barclays’ five-star-rated analyst Ross Sandler raised his price target on UBER stock to $110 from $97 while maintaining a Buy rating. The firm believes Uber shares will keep climbing as momentum in its core business strengthens.

Similarly, Evercore’s top-rated analyst Mark Mahaney lifted the price target to $150 from $115 and continues to rate the stock as a Buy. He described Uber’s Q2 earnings as a “modest beat,” noting that the Delivery segment performed better than expected, while the Mobility segment came in a bit weaker. Overall, he believes the results support their long-term positive view on the stock.

Furthermore, J.P. Morgan’s five-star-rated analyst Doug Anmuth reiterated his Buy rating on UBER stock at a price target of $110. Anmuth praises the company’s strong performance in both Mobility and Delivery, its focus on growing cross-platform usage, and solid profits. He also sees the $20B share buyback as a smart move to reward shareholders.

Is UBER a Good Stock to Buy?

Overall, Wall Street has a Strong Buy consensus rating on UBER stock, based on 31 Buys and four Holds assigned in the last three months. The average Uber stock price target of $103.63 implies an upside potential of 16% from current levels.

Year-to-date, UBER stock has grown by 48%.

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