BofA Securities has maintained its Buy recommendation on Uber Technologies (NYSE: UBER), keeping a $103 price target unchanged as the ride-hailing and delivery giant prepares to release its first-quarter financial results. The analysts pointed to continued strength in Mobility and Delivery bookings, alongside growing optimism around the company's autonomous vehicle initiatives. They also noted that additional merchant-fee revenue could either boost EBITDA or help fund further expansion.
Uber shares were trading near $75.13 on Monday, implying a roughly 37% upside from BofA's target. The company's market capitalization stood at approximately $159.6 billion. The upcoming earnings report, scheduled for Wednesday, May 6, before the market opens, will provide investors with an early glimpse into demand trends, margin performance, and the costs associated with expanding beyond core rides and food delivery services.
BofA analyst Justin Post expects first-quarter results to align with Wall Street consensus, forecasting gross bookings to rise about 20% year-over-year on a constant currency basis. He projects EBITDA near $2.45 billion, with Delivery demand remaining solid while Mobility shows some signs of easing. These figures are based on data compiled by TipRanks.
Several other analysts have echoed positive sentiment following Uber's recent product showcase. BMO Capital's Brian Pitz reiterated an Outperform rating and a $106 price target, telling TheStreet that the new features are likely to "increase app stickiness and frequency." At its GO-GET event, Uber introduced hotel booking options for U.S. users, tapping into Expedia Group's inventory and expanding available properties to over 700,000. CEO Dara Khosrowshahi described the move as making Uber "an app for everything." Expedia's Ariane Gorin expects the partnership to reduce planning time for travelers.
Uber is aiming to boost app engagement through these travel features. According to Reuters, Uber One members receive a minimum 20% discount on approximately 10,000 hotels, plus 10% of that back in Uber Credits. Uber One membership reached 46 million in the fourth quarter of 2025, a 55% increase from the prior year.
Autonomous vehicle technology remains a key variable for Uber's stock. Last week, Hertz and Uber announced plans for Hertz affiliate Oro Mobility to handle charging, maintenance, repairs, cleaning, and depot staffing for Uber's upcoming robotaxi service. The service will use Lucid vehicles equipped with Nuro's autonomous driving technology and is set to launch in the San Francisco Bay Area before the end of the year. Uber President and COO Andrew Macdonald called the agreement a step toward a "hybrid network" combining driver-led and autonomous rides.
Competition in the robotaxi space is intensifying. In March, Reuters highlighted Waymo's early lead in commercial robotaxis but noted that Tesla's massive production capacity and financial resources could disrupt the market. Uber, however, is sticking with its partnership approach rather than rebuilding its own self-driving division. The company has also continued to make smaller acquisitions, announcing on May 1 that it is buying Hong Kong's FlyTaxi, a local taxi e-hailing app. FlyTaxi founder Simon Siu called the deal a "proud milestone" for the 13-year-old company.
The autonomous vehicle push is not without risks. Last month, Reuters cited a Financial Times estimate that Uber's autonomous vehicle spending and developer stakes exceed $10 billion—a figure Reuters could not independently confirm. Some deals depend on partners meeting deployment targets, and delays in rollout, regulatory hurdles, or pricing pressure from Waymo and Tesla could require Uber to invest even more before seeing meaningful returns.
For now, the market's focus is on whether Uber can demonstrate that its core rides and delivery businesses are growing at a solid enough pace to support further investments in hotels, merchant fees, and robotaxis—without overcomplicating the app or squeezing margins.
