The Week

Uber (UBER) fell 3.88% this week to close at $75.76, while the S&P 500 added 0.09%, leaving the stock about 3.97 percentage points behind the benchmark. The week started with a fade: Monday (Aug 31) opened at $78.17 and closed at $75.65; Tuesday hit a low of $74.62 before a mid-week rebound that stalled by Friday’s close at $75.76. Weekly amplitude was 4.78%. Average daily volume of 14.3m shares ran about 10.64% below the 60-day median, a muted tape.

Key Events

The week’s storyline ran along two tracks: restructuring and autonomous driving. On Sept 2, Bloomberg reported Uber would cut 3,300 jobs, roughly 10% of staff, in its largest layoffs since COVID. The stock rose on the restructuring news. Uber also confirmed it would exit Nigeria after 12 years. On the robotaxi front, Uber and AI firm Wayve launched London’s first robotaxis on Sept 3, kicking off the UK’s first paid autonomous ride service and moving ahead of Waymo. Meanwhile, Delivery Hero’s board backed Uber’s EUR 41.50 per-share takeover bid, worth around $15bn; Uber later cut its Delivery Hero voting rights to 36.5% from 53.65%. Elsewhere in the sector, Tesla unveiled its Cybercab on Sept 3, Walmart signalled interest in the delivery market served by Uber Eats and DoorDash, and California rideshare drivers became eligible for $20,300 in EV purchase incentives.

Analyst Ratings

Across 52 brokers covering Uber, 35 rate it buy, 8 overweight, 7 hold, 1 sell and 1 no opinion; none rate it underweight. The consensus rating is buy, with a consensus target price of $101.81, about 34.38% above the latest close. Target prices range from $70 to $150, reflecting wide disagreement. Within the road-passenger transport industry, Uber ranks first among 9 covered names, above both the industry mean and median.

The Week Ahead

US macro data dominate the calendar. On Thursday, Sept 10, initial jobless claims land with a prior of 206 and a forecast of 205; final demand PPI prints with a prior of 0 and a forecast of 0.4, while core PPI has a prior of 0.2 and a forecast of 0.3. Existing home sales annualised are expected at 3.99 versus a prior of 4.06. On Tuesday, Sept 8, the NFIB small business optimism index carries a prior of 99.8. For Uber, watch the early operating numbers from London’s paid autonomous service, the fallout from Tesla’s Cybercab launch, and any further Delivery Hero-related updates.

In Short

This week sets a tension between supportive sell-side views and a softer tape. Consensus rating is buy, with the target price more than 30% above spot, while valuation sits at 16.15x P/E and 5.66x P/B. On the latest trading day, large-lot flow showed net selling, while small and medium lots were net buyers. The stock underperformed the S&P 500 on declining volume. Restructuring, robotaxi expansion, and the Delivery Hero deal are reshaping expectations; the next signals are London’s paid-service cadence, the acquisition’s effect on ownership structure, and how macro data shifts sentiment towards growth names.

This article is generated by LongbridgeAI from market data, for information only and not investment advice.