Uber Technologies (UBER – Research Report), the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Brian Nowak from Morgan Stanley maintained a Buy rating on the stock and has a $95.00 price target.
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Brian Nowak has given his Buy rating due to a combination of factors that highlight Uber Technologies’ robust growth trajectory and operational efficiency. The company’s platform is experiencing significant growth, particularly in its Mobility and Delivery segments, with Mobility trips increasing by approximately 19% year-over-year for the third consecutive quarter. Additionally, Delivery trips have shown an acceleration in growth, reaching 15% year-over-year in the first quarter, up from 13% in the previous year.
Nowak also notes the company’s ability to balance growth with profitability, which is reflected in the raised projections for 2026 Gross Bookings and Adjusted EBITDA by 2% and 4%, respectively. Furthermore, the price target for Uber’s stock has been increased to $95, underscoring the positive outlook. The early positive signals from Waymo’s utilization on Uber’s platform in Austin further support this optimistic view, contributing to the Buy rating.
According to TipRanks, Nowak is a 5-star analyst with an average return of 5.8% and a 59.72% success rate. Nowak covers the Communication Services sector, focusing on stocks such as Alphabet Class A, DoorDash, and Meta Platforms.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $96.00 price target.