Wells Fargo cuts Uber stock price target on lower trip estimates
Wells Fargo reduced its price target for Uber (NYSE:UBER) to $87 from $92, citing lower trip estimates for 2027 and 2028. The firm also adjusted its gross bookings and EBITDA estimates. Uber's Q3 2026 earnings slightly beat expectations, with revenue of $14.8 billion and adjusted EPS of $0.88. Other analysts have mixed views, with Goldman Sachs maintaining a Buy rating and a $110 target, while BTIG lowered its target to $90.
How this was made
The 30-second read
Why it matters
Earnings beat and target adjustments create a short‑term trading opportunity with modest upside potential.
Market read
Uber's earnings beat and mixed analyst outlook generate actionable insight for equity traders.
What to watch
Driver supply constraints and upcoming autonomous‑vehicle rollout could affect future earnings beyond the quarter.
Background
Analyst price‑target revisions and a fresh earnings release provide fresh data for traders.
Ticker impact
Wells Fargo lowered its price target to $87 and Uber reported Q3 2026 earnings that beat expectations.
modest upside as the market prices in the earnings beat and the new $87 target
Earnings beat supports price, but mixed target revisions (Wells Fargo down, Goldman up) temper the move.
Market effects
Ride‑share and delivery sectors may see renewed investor interest after the earnings beat.
U.S. tech‑focused investors likely react, with limited immediate effect on other regions.
Uber's global footprint means the earnings surprise could influence broader mobility and logistics sentiment.
Counterpoint
The price target cut by Wells Fargo may signal concerns about mobility growth, suggesting a potential pullback.
Key entities
- analystWells Fargo
Reduced Uber price target to $87, maintaining Overweight.
- analystGoldman Sachs
Maintained Buy rating with a $110 target.
