Uber Sees Robotaxi Growth
Uber's robotaxi vision may take years to play out as the company needs thousands more autonomous vehicles on its platform to shift investor sentiment
Uber Technologies Inc. S. rideshare business, according to BTIG analyst Jake Fuller. In a research note published Friday, Fuller reiterated a Buy rating and maintained a $100 price forecast, but argued that Uber’s growing list of autonomous vehicle (AV) partnerships has yet to meaningfully shift investor sentiment.
S. robotaxi market continue to weigh on Uber’s valuation, leaving little implied value for its domestic rideshare business after accounting for its delivery and international operations. Read Also: Yikes! S.
cities. About 3,800 of those vehicles belong to Waymo, while only about 300 are spread across five competing AV platforms. S. However, roughly 800 of those are Waymo vehicles, and about 500 are also accessible through the Waymo app.
That leaves Uber with only about 200 exclusive non-Waymo robotaxis, operating through Avride in Dallas and Motional in Las Vegas. BTIG does not expect Uber’s exclusive AV fleet to reach the thousands until 2027 or 2028. Long-Term View Remains Positive BTIG said it still sees a long-term path for a fragmented autonomous vehicle market, with multiple platforms, car owners and fleet managers using Uber as a demand aggregator. However, the firm said that shift could take years, with Waymo still the dominant platform and visibility limited.
S. rideshare business, BTIG said. While Uber’s on-app robotaxi count may rise in the second half, BTIG does not expect thousands of exclusive non-Waymo vehicles until late 2027 or 2028, leaving few near-term catalysts. The brokerage maintained its Buy rating and $100 price forecast, based on a 15-times multiple of its 2027 EBITDA estimate.
BTIG expects Uber’s adjusted EBITDA to grow about 30% while continuing to benefit from expansion in mobility, delivery, advertising and Uber One memberships. Uber Technical Analysis Uber stock rose nearly 3% on Friday, outperforming a weaker broader market. 16%. Uber is rebuilding momentum above key moving averages.
45. 5% over the past 12 months. The MACD indicator remains above its signal line, pointing to improving buying momentum. Even so, the longer-term trend remains under pressure following the 50-day SMA’s move below the 200-day SMA earlier this year.
Key resistance sits near $81, close to the 200-day SMA. 19. 44 at the time of publication on Friday, according to Pro data. 99 A Month For Faster Robotaxi Pickups — Here's What Subscribers Get