Uber stock touched $68.00 on Wednesday, hitting its lowest point in 52 weeks. That puts the stock 33% below its 52-week high of $101.99 and down nearly 20% over the past year.
The drop comes despite the company posting 18% revenue growth and trading at a P/E ratio of 17.08. InvestingPro data suggests the stock is undervalued at current levels, with some analyst price targets reaching as high as $150.
Of 56 analysts covering the stock, 49 rate it a Buy, 6 rate it Hold, and just 1 rates it Sell. The average price target sits at $106.80, representing roughly 52% upside from current levels.
Guggenheim reiterated its Buy rating this week with a $125 price target. The firm flagged the 2026 World Cup as a near-term catalyst, forecasting a 100 basis point bump in Mobility Gross Bookings in Q2 and Q3.
Bank of America analysts also weighed in, saying Uber is well-positioned to benefit from the current AI cycle.
The bigger story might be what Uber is building toward. On June 3, Reuters reported the company committed around $500 million to self-driving startup Nuro. The initial tranche includes a $203 million funding round that values Nuro at roughly $6 billion, with further milestone-linked funding to follow.
The deal comes with a three-way partnership between Uber, Nuro, and Lucid to deploy nearly 35,000 robotaxis. The vehicles will use Lucid’s Gravity SUVs, Nuro’s autonomous tech, and Uber’s platform.
Uber already runs a robotaxi service with Waymo in select U.S. cities and has partnerships with Baidu, Rivian, and Wayve. On June 1, the company announced a new robotaxi program in Munich through a tie-up with Autobrains and Nvidia.
The company is also expanding in other areas. Uber has opened a waitlist for a robotaxi service in London ahead of a planned launch later this year. In Kenya, Uber plans to double its electric motorcycle fleet from 2,500 to 5,000 units by the end of 2026.
On the organizational side, Uber is trimming less than 1% of its global workforce. The cuts are focused on the People and Places division and are part of a restructuring effort. The company said the move is not related to AI.
Uber has also reportedly made a takeover approach for Delivery Hero, the Berlin-based food delivery company. Prosus NV is said to be exploring an increase in its own stake in Delivery Hero in response to Uber’s interest.
Uber stock was trading at $67.71 as of Wednesday afternoon, down 1.30% on the day.
The post Uber Stock Is Down 33% From Its High. Wall Street Still Likes It. appeared first on CoinCentral.
