Uber stock had a big week — which is why analysts remain bullish

TLDR

• Citizens reiterated a “Market Outperform” rating and $100 price target on Uber (UBER).
• UBER stock jumped 5.6% in Friday afternoon session, and is currently trading around $75.94.
• The analyst cited growth in miles allocated to Waymo riders only via the Uber platform as a key driver
• Waymo’s cumulative passenger-only miles grew by 44.5 million QoQ in Q1 2026, up 134% YoY.
• Uber is down 8.4% year to date, and is 24.1% below its 52-week high of $100.10.

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Uber ( UBER ) stock rose 5.6% on Friday afternoon after Citizens reiterated its “market outperform” rating and $100 price target on the stock, citing continued growth momentum related to Waymo’s expansion through the Uber platform.

Uber Technologies, Inc., Uber

The stock was trading at $75.94 at the time of writing, 24.1% below its 52-week high of $100.10 set in October 2025. Uber is down 8.4% since the beginning of the year.

The Citizens analyst pointed to Waymo’s “rider-only miles” — rides taken alphabet Self-driving vehicles available through the Uber app – a major positive. In the first quarter of 2026, Waymo added 44.5 million cumulative passenger-only miles on a quarterly basis, an increase of 14% and up 134% year over year.

However, the momentum has slowed. In Q4 2025, Waymo miles increased 40% QoQ and 157% YoY, so the slowdown was evident. Citizens attributed the slowdown to supply constraints as Waymo transitions from the fifth-generation Jaguar I-PACE to the sixth-generation Ojai. Ojai began public passenger flights in May 2026.

Change Waymo’s geography

San Francisco and Los Angeles accounted for roughly 55% of Q1 2026 miles, down from 62% in Q4 2025. Atlanta entered the reporting mix for the first time, contributing 11% of Q1 miles. Markets including Houston, San Antonio and Orlando are not yet reflected in Waymo’s reported numbers.

Citizens noted that these numbers are likely an underestimate, given that new markets are pulling supply away from existing markets while Waymo remains generally constrained.

This is not the first motivator for Uber this week. Two days ago, the stock rose 5.8% after Uber announced it would add five new retail partners to the Uber Eats marketplace — Kiehl’s, FedEx Office, Blick Art Materials, Academy Sports + Outdoors, and Choice Pet.

More catalysts in the mix

On the same day, Tigress Financial Partners raised its price target for UBER to $115. One filing also revealed that US Rep. Nancy Pelosi made a new bullish bet on Uber through long-term call options. Separately, Uber revealed plans with partner WeRide to launch a commercial robotaxi service in Zurich, its second planned deployment in Europe.

On the competitive front, Wells Fargo data showed that Uber’s delivery service saw a slight 1% decline in product prices and consumer fees — in contrast to DoorDash, which raised fees by 21% while cutting product prices by 4%.

Lime, the electric scooter and bike company, has named Uber as a lead investor in its upcoming IPO.

Investors who invested $1,000 in Uber five years ago have roughly $1,486 today.