Evercore ISI’s $150 Target Says Uber’s Selloff Went Too Far
Uber Technologies (UBER) shares have dropped 24% from their year-high, but Evercore ISI maintains an Outperform rating and $150 price target, 111% above the Nov. 9 close. The decline followed a robotaxi partnership end, a $14.8B Delivery Hero deal, and Q3 Mobility revenue missing expectations. Uber's Q3 non-GAAP EPS rose 35% to $0.88, but Mobility revenue fell 2%. Evercore's target implies a 37x forward earnings multiple, higher than Uber's recent multiples.
How this was made
The 30-second read
Why it matters
The analyst upgrade could trigger short covering and new buying, especially given the large upside implied.
Market read
Analyst price target revision provides a fresh catalyst for Uber's stock, potentially influencing short‑term trading decisions.
What to watch
Potential headwinds from the robotaxi partnership loss and high debt levels could limit upside.
Background
Uber reported mixed Q3 results with strong EPS growth but weaker mobility revenue, while Evercore ISI reaffirmed an Outperform rating and set a $150 price target.
Ticker impact
Evercore ISI raised its price target to $150 and kept an Outperform rating after Uber's Q3 report, providing a fresh analyst thesis on the stock.
likely upward pressure as investors price in the $150 target and 111% upside expectation
The new $150 target is the highest on the Street and implies a large upside, which can attract buying interest.
Market effects
Positive for the ride‑hailing and mobility sector as the high target may lift peer valuations.
U.S. equity markets may see modest buying pressure in transportation stocks.
Limited to Uber and its global operations; no broad macro effect.
Counterpoint
The target may be overly optimistic given Uber's recent mobility revenue decline and driver shortage.
Key entities
- CompanyUber Technologies
Ride‑hailing and mobility platform.
- AnalystEvercore ISI
Equity research firm issuing the price target.
