Track market-moving stories before they get noisy

In Brief

Posted:

1:43 PM PDT · July 24, 2026

Image Credits:Eric Thayer/Los Angeles Times / Getty Images Waymo is reportedly looking for a way out of its deal with Uber, which has made the Alphabet-owned company’s robotaxis available on the ride-hailing giant’s network in Austin and Atlanta, according to the Financial Times.

Waymo already told Uber that it intends to offer robotaxis on its own app in those markets starting in January 2028 and alongside the existing offering, the ride-hail giant told TechCrunch on Friday. Uber said the contract with Waymo that covers Austin and Atlanta ends in May 2028. The two companies already split in Phoenix earlier this year, as TechCrunch first reported.

Waymo didn’t immediately respond to a request for comment.

This all follows months of rising tensions between Waymo and Uber. Earlier this year, Uber CTO Praveen Neppalli posted a video of what he thought was unsafe and “scary” behavior of a Waymo robotaxi. In May, Uber CEO Dara Khosrowshahi lightly criticized the behavior of Waymo’s robotaxis in school zones and emergency situations during an earnings call, though without naming the company.

Waymo, meanwhile, has wound up opposite Uber in a number of fresh policy fights over robotaxi regulations.

Topics

Subscribe for the industry’s biggest tech news

Latest in Transportation

Founded in 2011, Delivery Hero now operates in over 60 markets and is one of the world's biggest food delivery groups . German food delivery group Delivery Hero said Thursday it has agreed to be acquired by U.S. ride-hailing giant Uber in a 12.7 billion euro ($14.6 billion) deal.

Founded in 2011, the German firm now operates in more than 60 markets and is one of the world's biggest food delivery groups.

It has also expanded beyond its traditional food business to quick commerce, delivering small packages to customers.

Uber is offering 41.50 euros per share for Delivery Hero, valuing the deal at 12.7 billion euros.

Delivery Hero's shares were down 0.5% in Frankfurt after the announcement, trading at 37.9 euros.

"Uber's global mobility and delivery platform and our shared commitment to innovation make this the right partnership to build on Delivery Hero's strengths in local food delivery and quick commerce," said Niklas Oestberg, CEO and co-founder of Delivery Hero.

Uber CEO Dara Khosrowshahi said a merger would "extend affordable, reliable delivery to many millions more people in some of the world's most dynamic economies, while creating more opportunities for merchants and couriers."

Uber is acquiring Delivery Hero's businesses in 50 markets worldwide across Asia, Europe, Latin America and the Middle East.

A U.S. investment firm, SSW Partners, is acquiring the German group's operations in another 14 markets, where Uber and Delivery Hero compete, for around 1.4 billion euros.

Delivery Hero said its management recommends that shareholders accept the deal and that it is expected to be finalized in the second half of 2027.

Who's behind this story?

Andrew Zinin Master's in physics with research experience. Long-time science news enthusiast. Plays key role in Science X's editorial success. Full profile →

© 2026 AFP

Citation: Germany's Delivery Hero agrees 12.7-bn-euro takeover by Uber (2026, July 16) retrieved 16 July 2026 from https://techxplore.com/news/2026-07-germany-delivery-hero-bn-euro.html

This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Uber (NYSE:UBER | UBER Price Prediction) now carries a market capitalization of roughly $151.5 billion, backed by a platform that pushed $53.72 billion in Gross Bookings through its apps in a single quarter. Uber has scaled into a $150 billion consumer platform reporting real operating income, and the most recent quarter shows why the market is starting to price it that way.

What It Means The scale behind the market cap is what makes the profitability turn credible. In Q1 fiscal 2026, reported May 6, 2026, Uber ran 3.6 billion trips across 199 million Monthly Active Platform Consumers, with trips up 20% year over year and audience up 17%. Gross Bookings climbed 25%. Revenue reached $13.203 billion, just missing the $13.263 billion estimate by 0.45%, a gap the company attributes to a roughly 9 percentage-point headwind from business model changes.

The margin story is what pushes this into a new phase. The company’s operating income hit $1.923 billion, up 56.6% year over year. Additionally, adjusted EBITDA margin on Gross Bookings widened to 4.6% from 4.4%, and non-GAAP operating income margin expanded to 3.5% from 3.1%.

Non-GAAP EPS came in at $0.72, beating the $0.7133 estimate and growing 44% year over year, more than double the pace of bookings growth. While GAAP net income of $263 million fell 85.19%, that swing came from a $1.50 billion pre-tax mark on equity investments, with the operating business unaffected.

Market Reaction Shares closed at $74.43 on July 2, 2026, up 2.44% on the day and 3.92% over the past month. The year-to-date picture is weaker, with the stock down 8.91% from $81.71 at year-end 2025, and off 19.14% over the trailing year from $92.05. Post-earnings, the stock traded at $77.14 one hour after the filing before settling to $70.71 thirty days later.

Bull Case I think the bull case around Uber rests on operating leverage that is showing up in every line the market cares about. CEO Dara Khosrowshahi told investors on the call: “Importantly, we’re scaling this growth profitably. Non-GAAP EPS increased 44% year-over-year, more than twice as fast as our bookings growth, driven by disciplined cost management and operating leverage.”

July 16 is the Final Day to Tap Into the Lithium Boom (sponsor)
General Motors, POSCO, and 50,000+ everyday investors have already backed lithium producer EnergyX.

Here's why you should do the same before their July 16 investment deadline: lithium prices are up 75% this year, with demand projected to grow a staggering 5X by 2040.

With tech that can recover up to 3X more lithium than traditional methods, EnergyX is preparing to unlock up to 15M+ tons. Become a private-stage EnergyX investor before the July 16 deadline.

That leverage is being reinforced by a subscription flywheel. Uber One now has 50 million members, up from 30 million at the end of the prior year, growing 50% year on year and driving over 50% of bookings. Members spend 3x more than non-members.

Capital return is now part of the equation. Uber repurchased $3.011 billion of stock in Q1 alone, on top of $6.523 billion in buybacks during full-year 2025. Free cash flow reached $2.286 billion in the quarter, and $9.763 billion for full-year 2025, up 41.6%. The balance sheet backs it up, with debt-to-equity at 0.45, net debt to EBITDA at 0.79, and interest coverage of 12.65. Return on equity sits at 41.37%.

Insiders have been buying into the pullback. CFO Balaji Krishnamurthy and executives Tony West, Jill Hazelbaker, Andrew MacDonald, and Glen Ceremony all acquired shares in June 2026 at a reference price of $73.25, below the April level of $76.48. Analyst sentiment lines up behind Uber, with analyst posting 10 strong buys, 36 buys, 5 holds, and 1 sell, and a target price of $104.53.

Bottom Line For long-term holders, the $150 billion valuation now sits on top of a business generating margin expansion, buybacks, and a subscription base that is compounding. Uber’s Q2 guidance calls for Gross Bookings of $56.25 billion to $57.75 billion, non-GAAP EPS of $0.78 to $0.82 (growth of 31% to 38%), and adjusted EBITDA of $2.70 billion to $2.80 billion.

Thus, I think the company’s Q2 2026 report is the next reveal. If EPS growth continues to run at more than twice the pace of bookings, the $150 billion platform stops being a ceiling and starts looking like a floor.

Meet America's Newest $1b Unicorn (Sponsor) A US startup just passed a $1 billion private valuation, joining billion-dollar private companies like OpenAI and ByteDance. Unlike those other unicorns, you can invest in EnergyX right now; but only until July 16.

Over 50,000 people already have, along with global giants like General Motors and POSCO.

Here's why there's so much interest: EnergyX's patented tech can recover up to 3X more lithium than traditional methods. That's a big deal, as demand for lithium is expected to 5X current production levels by 2040. Become an early-stage EnergyX shareholder before the 7/16 investment deadline.

Contact [email protected] for any questions or corrections.

A proposed bill that would allow autonomous vehicles to operate in Washington, D.C. has become a test case for Uber’s broader robotaxi strategy. Instead of simply partnering with, and investing in, robotaxi developers, Uber is also trying to shape the rules that govern them, an effort that puts it in direct opposition with its business partner, Waymo.

Uber, which opposes the bill, argues the proposed rule would displace for-hire human drivers and hand Waymo a de facto monopoly. It has lobbied instead for a system that would require robotaxis to operate on a ride-hailing network that also uses human drivers, according to public records viewed by TechCrunch and interviews with industry and company sources. 

“We have already seen in other jurisdictions how a flawed, first-party only regulatory approach can disrupt a city,” Javi Correoso, who leads U.S. policy and federal affairs for Uber, said in May during a D.C. Council roundtable on a separate, existing statute regulating for-hire drivers. Correoso argued at the time that robotaxis create congestion by idling or cruising empty, cannot provide the kind of physical assistance to older or disabled adults that human drivers can, and cited data that states one AV displaces roughly four drivers.

When asked about the hybrid model, Correoso shared Uber’s regulatory vision. 

“Hybrid model means that consumers should have the ability to access both. If a consumer is on the app, they should be able to choose,” he said, according to a publicly available recording and transcript. “I would go a step further: I think it should be part of the regulatory framework for the industry. There should be a requirement for consumers to be able to take an Uber that’s driven by a human.”

Alphabet-owned Waymo contends the bill, which it backs, will allow for the safe deployment of autonomous vehicles while supporting public transit, equitable access, and workers without restricting companies like Uber. 

The two companies will pitch their positions on Monday during a day-long hearing. The bill’s passage is not imminent — many parties told TechCrunch they hope legislation is approved before the end of the year, and before Washington, D.C. Mayor Muriel Bowser leaves office in January. Still, the arguments and lobbying efforts surrounding the bill reflect a broader debate that stretches beyond Washington, D.C.

The proposed AV bill The bill, which was introduced by Councilmember Charles Allen in May, would update the existing Autonomous Vehicle Act of 2012 to allow for driverless testing and commercial driverless operations within the district. Today, companies like Waymo and Zoox can test autonomous vehicles, but only with a human safety operator behind the wheel.

The proposed bill would give the District Department of Transportation (DDOT) the authority to issue driverless testing and deployment permits to AV developers that meet certain requirements. Such requirements include holding a minimum of $5 million in liability insurance, and agreeing to report crash data within either eight hours or 72 hours, depending on whether the vehicle is part of a commercial fleet or a privately owned AV (which doesn’t yet exist in the market).

The bill would also charge robotaxi operators a $0.15 per mile tax, a proposal that robotaxi advocates have argued is too expensive. Revenue from the “vehicles miles traveled” (VMT) tax would be split, with 50% going toward public transit and the remaining used to support education and workforce development for rideshare and taxi drivers at risk of losing their jobs to robot cars.

Uber and Waymo are not the only parties interested in the bill. Numerous organizations and companies, including representatives from Tesla, Lyft, the Teamsters and Service Employees International Union labor unions, disability rights and accessibility advocacy groups, local business and industry groups, highway safety proponents, government officials, and think tanks are all scheduled to speak during Monday’s hearing. 

The bill has even prompted an anti-robotaxi campaign, launched by a New York-based organization called Coalition for Accountability and Road Safety, which is canvassing voters and posting on social media.

It’s unclear who is funding the organization, which is registered to an employee of Pitta Bishop & Del Giorno LLC, a New York lobbying and government affairs outfit affiliated with labor and employment law firm Pitta LLP. According to publicly available lobbying documents listed by the city, Pitta has been retained over the past year by several labor unions and the New York Black Car Operators’ Injury Compensation Fund. 

The stakes are high for all robotaxi developers, human drivers, and the ride-hailing and taxi companies that employ them in D.C. It’s arguably elevated for Uber and Waymo too, given their considerable market positions. Uber is the largest ride-hailing and delivery network in the United States, and Waymo is the largest robotaxi operator, providing more than 500,000 rides each week across 11 cities. 

If Uber is successful and its hybrid network idea is adopted in D.C. — or elsewhere — it would leave AV developers like Waymo with two choices: put their robotaxis on ride-hailing apps like Uber’s, or employ human drivers who provide ride-hailing services alongside the robot cars that have taken years and hundreds of millions of dollars to develop.

If Waymo and other supporters of the D.C. bill are successful, Uber argues it will be pushed out altogether.

Protect and expand Image Credits:Uber/Lucid/Nuro The bill is a local policy fight, but it also highlights one prong of Uber’s strategy to protect its leading position in the ride-hailing and delivery market. 

Uber is actively investing in and partnering with autonomous vehicle technology companies — more than 30 globally — while also building AV Labs, a new business unit designed to collect and share real-world driving data with AV developers. The company is hiring dozens of engineers for the division, according to job listings and interviews with sources familiar with the effort. 

While Uber stakes its claim in the AV market, it is also championing protective policies that would require autonomous vehicles to operate alongside human drivers within a single platform — much like the Uber app. 

Uber’s investment and partnership activity has been underway for several years. The company’s push for a hybrid network is recent, first emerging in a white paper published in May. Since then, Uber has ramped up its rhetoric with policymakers, including the D.C. Council roundtable meeting in May to discuss updates to the district’s Vehicle-for-Hire Innovation Amendment Act of 2014. (That law, which regulates ride-hailing and taxi services through the Department of For-Hire Vehicles, is separate from the AV bill, but multiple sources told TechCrunch that the policies overlap.)

Uber submitted a letter to the D.C. Council in June, which TechCrunch has seen, elaborating on Uber’s policy chief Correoso’s earlier comments. The letter stated the hybrid approach would be a single transportation network with traditional drivers that gradually incorporates autonomous vehicles.

“What this means in practice is that if you call an Uber in a market with AVs, you might get matched with an AV or a human driver, depending on the nature of your trip,” the letter reads. 

In D.C., Uber is responding to a bill that would effectively ban hybrid networks altogether, company spokesperson Noah Edwardsen told TechCrunch. 

Waymo disputes that interpretation, and a representative for the company said Waymo does not support efforts to limit AVs to specific types of networks. “We would welcome changes clarifying that different types of networks can operate in the District,” Waymo spokesperson Ethan Teicher wrote in an emailed statement sent to TechCrunch.

More broadly, Edwardsen said Uber has never taken a one-size-fits-all approach to policy, contrasting it to “advocacy from parts of the AV industry today, where proposals have repeatedly failed to address important issues like labor and transportation equity — or that have tried to cynically lock out competitors and create monopolies — making them largely unworkable.”

While numerous industry insiders have criticized aspects of the D.C. bill — notably the VMT tax and proposed cap on robotaxis — some disagree with Uber’s hybrid proposal. 

Greg Rogers, founder and executive director of the nonprofit mobility and tech think tank The Innovation Majority, is scheduled to speak at Monday’s hearing, and he called Uber’s move an attempt at “regulatory capture.”

“Mobility is already a marketplace — people already can make choices on whether to take a bus, or ride a bike, or walk, or take rideshare every day,” Rogers told TechCrunch in an interview. “And any argument that you can improve consumer welfare by forcing certain business models and canceling out others does not improve people’s mobility choices. It does not improve road safety, and what it risks is only further entrenching interests and charging rent on anyone who seeks to operate AVs in the district.”

Uber’s pro-driver, ”let’s compromise” positioning may surprise close followers of the ride-hailing company. The company’s early history was painted by an anti-regulation ethos that sought out loopholes within existing laws, or ignored them altogether.

Uber often opposed union-supported regulations, like AB 5 in California, which would have disrupted its asset-light business model by classifying gig workers as employees. Proposition 22, a 2020 ballot initiative passed by voters and upheld by the California Supreme Court, was backed by Uber, Lyft, and others as a compromise that gave workers access to health insurance and other benefits while maintaining their contractor status.

Those fights, and others like it, have taught Uber that it has to consider human workers, and the power of labor unions that support them, if it wants to play a central role in the robotaxi market, according to sources. Uber’s own chief operating officer Andrew Macdonald struck a similar we-learned-our-lesson tone in a LinkedIn post in May that promoted its white paper.

Macdonald noted that the consequences of the company’s grow-at-all-costs approach led to “regulatory battles and a corporate crisis that damaged trust for years. “

“That experience changed us,” he wrote. “Today, we partner with cities instead of confronting them.”

Uber argues its hybrid network proposal is that compromise — one that allows robotaxis and human drivers to coexist on the same platform while easing labor concerns.

The company is committed to pitching the idea in other cities and states as lawmakers develop new AV laws or update existing ones.

Wired published its own report detailing lobbying efforts in New Jersey and D.C.

Uber’s stance, and its active lobbying, puts it on a collision course with Waymo. 

Frenemies Image Credits:Waymo/Uber Waymo and Uber have squared off over autonomous vehicle technology before.

In 2017, Waymo sued Uber over allegations of trade secret theft. The high-profile trial, in which Waymo accused Uber of using trade secrets downloaded by former Google engineer Anthony Levandowski, delivered memorable testimony and evidence, including phrases like “laser is the sauce.” The trial lasted just five days before Uber agreed to settle, and the two companies stopped sparring, at least publicly.

Six years later, with Uber’s in-house AV development program sold off to Aurora, the former courtroom rivals teamed up. Waymo agreed to put its self-driving vehicles on Uber’s app in Phoenix in 2023. That partnership, which quietly ended in May, has been described as limited and as a “pilot.” Waymo also operates its own stand-alone app in Phoenix, its first robotaxi market.

The relationship seemed to solidify by March 2025, when company executives — grasping mugs of prickly pear margaritas and plates of Terry Black’s barbecue at a private party — celebrated the launch of Waymo robotaxis on the Uber app in Austin during the annual music, film, and tech fest, SXSW. The partnership soon expanded to Atlanta. In both of those cities, prospective customers cannot hail a robotaxi directly through Waymo’s app, and have to use the Uber app and hope for a match.

In recent months, the relationship has soured — and publicly.

Earlier this year, Uber chief technology officer Praveen Neppalli openly criticized Waymo on X, posting a video and commentary calling out the unsafe and “scary” behavior of a Waymo robotaxi. During an earnings call in May, Uber chief executive Dara Khosrowshahi directed comments toward Waymo without directly naming the company when he expressed support for regulators.

“They’re asking the right questions, which is how are AVs going to interact with — in situations where the power goes out or interacting in school zones or working with firefighters, etc. in the city,” said Khosrowshahi, referring to recent incidents that involved Waymo robotaxis. 

The tension between Waymo and Uber has even gone global, with both companies poised for a looming showdown in London.

As speculation swirls over when Uber and Waymo’s existing partnerships in Austin or Atlanta will implode, both companies are gearing up for a regulatory fight that appears poised to spill into other cities and states.

Uber is betting, and lobbying for, a different future than the one Waymo envisions.

“We think the future of our transportation system will be hybrid,” Uber’s head of AV policy Harry Hartfield said in testimony submitted ahead of Monday’s meeting. “Public policy should be designed around that reality, not around an AV-only future that does not exist.”

When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence.

Key Takeaways Uber's gross bookings rose 25% to $53.7B in Q1, topping the consensus estimate of $52.9B. Uber expects Q2 gross bookings of $56.25B-$57.75B, up 18-22% on a constant-currency basis. Uber benefits from strong Mobility and Delivery demand, Uber One growth and ongoing app improvements. Gross bookings at Uber Technologies (UBER - Free Report) , the San Francisco-based ride-hailing giant, continue to grow despite geopolitical tensions because demand for its services remains strong. Notwithstanding the current turbulent scenario, people need rides to go to work, airports, restaurants and events, while food and grocery delivery continues to be part of everyday life. Uber also benefits from operating in many countries, so weaknesses in one market are often offset by strengths in others. 

In addition, the company's Uber One membership program, expanding delivery business and ongoing improvements in its app are encouraging customers to use the platform more often and spend more, helping drive higher gross bookings.

Higher gross bookings are benefiting Uber by increasing both revenues and profitability. As more customers use the platform, Uber earns more fees while keeping costs under control, allowing profits and free cash flow to grow faster. Strong booking growth also attracts more drivers and merchants to the platform, making the service more reliable and improving the customer experience. 

Despite the crisis in the Middle East, UBER’s Mobility business saw impressive demand in first-quarter 2026, with segmental revenues increasing 5% year over year on a reported basis and 1% on a constant currency basis to $8.2 billion.

Gross bookings from the unit were highly impressive, aiding the first-quarter results. Gross bookings from the Mobility segment in the March quarter increased 20% year over year on a constant-currency basis to $26.4 billion. Uber’s Delivery business also performed well in the quarter, with segmental revenues growing 23% year over year on a constant-currency basis. Gross bookings from the Delivery segment in the first quarter rose 23% year over year on a constant-currency basis to $26 billion. Total gross bookings jumped 25% to $53.7 billion, ahead of the Zacks Consensus Estimate of $52.9 billion.

The gross bookings forecast for the second quarter of 2026 is also very impressive, highlighting the bullishness surrounding the key metric. Despite the ongoing tensions in the Middle East and the resultant fuel price spike, gross bookings are projected in the range of $56.25-$57.75 billion, highlighting growth of 18% to 22% year over year on a constant-currency basis. The outlook assumes a roughly 2 percentage-point currency tailwind to total reported year-over-year growth.

Comparable Metrics of Other Ride-Hailing EntitiesGross bookings are strong at rival Lyft (LYFT - Free Report) as well, mainly owing to the growing active rider base, expansion into new markets and the success of its customer-friendly "Price Lock" feature. In the March quarter, gross bookings increased 19% year over year to $4.9 billion at Lyft. This was the 20th consecutive quarter where Lyft demonstrated double-digit year-on-year growth in the key metric, demonstrating the resilience and momentum of its customer-friendly strategy. Active Riders increased 17% year over year to 28.3 million.

For the second quarter of 2026, Lyft anticipates gross bookings to grow 18-21% year over year, reaching $5.3-$5.43 billion.

Singapore-based Grab (GRAB - Free Report) is benefiting from strong growth in its On-Demand Gross Merchandise Value (“GMV”). On-Demand GMV refers to the sum of GMV of the mobility and deliveries segments. In the first quarter of 2026, On-Demand GMV increased 21% year over year (on a constant currency basis) at Grab. Grab expects 2026 revenues between $4.04 billion and $4.1 billion, indicating 20-22% year-over-year growth.

UBER’s Share Price Performance, Valuation and EstimatesShares of UBER have declined in double digits over the past six months. Courtesy of the downbeat performance, UBER’s shares have underperformed the Zacks Internet-Services industry over the same time frame.

6-Month Price ComparisonImage Source: Zacks Investment Research

From a valuation standpoint, UBER trades at a 12-month forward price-to-sales of 2.42X. UBER is inexpensive compared with its industry.

Image Source: Zacks Investment Research

See how the Zacks Consensus Estimate for Uber’s earnings has been revised over the past 90 days.

Image Source: Zacks Investment Research

Uber’s Zacks RankUber currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Shares of ride-hailing giant Uber Technologies (UBER 1.16%) have rebounded recently as investors warm to the idea that robotaxis could become a major new growth driver. Shares are up about 7% over the last month and 5% in the last week alone. At close to $76 as of this writing, though, the stock still sits about 25% below its 52-week high near $102.

The recent optimism toward the stock is easy to understand. What's harder to pin down, however, is what Uber actually owns in the autonomous race.

Here is the part the robotaxi excitement tends to gloss over: Uber doesn't build the cars, doesn't write the self-driving software, and doesn't own the vehicles carrying its riders. Its plan is to be the app that books the trip, whoever's autonomous car shows up. That asset-light approach could be Uber's biggest advantage in autonomy -- or its biggest vulnerability, depending on how the next few years unfold.

Image source: Getty Images.

A platform, not a fleet Uber's pitch to investors and autonomous-car manufacturers is about aggregation.

It has reportedly signed up about 30 autonomous partners -- robotaxi developers, delivery-bot makers, and self-driving trucking firms -- and wants to be the marketplace where that capacity meets demand. The early traction backs up the idea: Uber recently said autonomous trips on its platform grew about tenfold over the past year, and management is targeting driverless service in up to 15 cities by the end of 2026.

"We get to work with everybody in the ecosystem," Uber CEO Dara Khosrowshahi told Fast Company in a June interview, pointing to a network that handles more than 40 million trips a day. The logic is that with that much demand, Uber can keep a partner's expensive cars busy in ways a single operator running its own app can't.

And the core business gives the pitch weight. In the first quarter of 2026, Uber's revenue rose 14% year over year to $13.2 billion, gross bookings climbed 25% to $53.7 billion, and trips grew 20% to 3.64 billion. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 33% to about $2.5 billion.

A network this large is exactly what a robotaxi operator with idle cars might want to plug into.

But the biggest fleet doesn't need Uber The catch is who actually owns the robotaxis on the road today. Alphabet's Waymo is the largest operator by far, running a fleet of more than 3,000 driverless cars and delivering around half a million paid rides a week, with a goal of 1 million by the end of 2026. And Waymo mostly routes those riders through its own app, not Uber's. And the two are now drifting apart -- Waymo still runs on Uber's platform in a couple of markets.

Tesla, meanwhile, is building a robotaxi service on cars and software it controls end-to-end. Uber's answer is to buy its way into the supply of its own. The company has reportedly committed more than $10 billion to autonomous vehicles. That includes a deal for at least 35,000 robotaxis built on electric vehicles from Lucid Group and equipped with Nuro's self-driving system, plus an arrangement for as many as 50,000 autonomous vehicles from Rivian.

But these arrangements will take time to start making a difference for Uber. The Lucid-Nuro robotaxi service is slated for a public launch later this year. And the Rivian fleet isn't expected to start deployments until 2028.

Today's Change

(

-1.16

%) $

-0.88

Current Price

$

75.32

Meanwhile, Uber's valuation leaves little room for slip-ups. Its forward price-to-earnings ratio of 24 isn't expensive, but it's not cheap either. In other words, it isn't extreme for a company growing gross bookings above 20%, but it's high enough that it arguably does assume the partner-based autonomy strategy adds value rather than erodes it.

So does Uber's asset-light bet make it a robotaxi winner, or leave it dependent on the rivals that build the cars? Probably something in between. Sure, the platform model could prove durable if autonomy fragments across many operators that all need Uber's demand to fill seats. But it could suffer if a handful of owners like Waymo reach the scale to run their own networks and keep the economics. For now, Uber is paying up to ensure it has cars to fall back on -- a sensible hedge, but also a quiet admission that aggregating other companies' robotaxis may not be the durable advantage implied by the rising share price.

In a research note published Friday, Fuller reiterated a Buy rating and maintained a $100 price forecast, but argued that Uber’s growing list of autonomous vehicle (AV) partnerships has yet to meaningfully shift investor sentiment.

Waymo Remains The Clear LeaderAccording to BTIG estimates, roughly 4,100 robotaxis are currently providing paid rides across 11 U.S. cities. About 3,800 of those vehicles belong to Waymo, while only about 300 are spread across five competing AV platforms.

The firm estimates around 1,000 autonomous vehicles are available through the Uber app in the U.S. However, roughly 800 of those are Waymo vehicles, and about 500 are also accessible through the Waymo app.

That leaves Uber with only about 200 exclusive non-Waymo robotaxis, operating through Avride in Dallas and Motional in Las Vegas. BTIG does not expect Uber’s exclusive AV fleet to reach the thousands until 2027 or 2028.

Long-Term View Remains PositiveBTIG said it still sees a long-term path for a fragmented autonomous vehicle market, with multiple platforms, car owners and fleet managers using Uber as a demand aggregator.

However, the firm said that shift could take years, with Waymo still the dominant platform and visibility limited. Investors likely need to see other AV platforms scale and a much larger robotaxi fleet on Uber’s app before giving the company more credit for its U.S. rideshare business, BTIG said.

While Uber’s on-app robotaxi count may rise in the second half, BTIG does not expect thousands of exclusive non-Waymo vehicles until late 2027 or 2028, leaving few near-term catalysts.

The brokerage maintained its Buy rating and $100 price forecast, based on a 15-times multiple of its 2027 EBITDA estimate. BTIG expects Uber’s adjusted EBITDA to grow about 30% while continuing to benefit from expansion in mobility, delivery, advertising and Uber One memberships.

Uber Technical AnalysisUber stock rose nearly 3% on Friday, outperforming a weaker broader market. The Nasdaq fell 0.81%, while the S&P 500 slipped 0.16%.

Uber is rebuilding momentum above key moving averages. The stock traded about 4.9% above its 20-day simple moving average of $71.43 and roughly 2% above its 50-day SMA of $73.45.

However, shares remain about 8.1% below the 200-day SMA of $81.56 after falling 19.5% over the past 12 months.

The MACD indicator remains above its signal line, pointing to improving buying momentum. Even so, the longer-term trend remains under pressure following the 50-day SMA’s move below the 200-day SMA earlier this year.

Key resistance sits near $81, close to the 200-day SMA. Support is around $69, above the 52-week low of $67.19.

Uber Price ActionUBER Price Action: Uber Technologies shares were up 3.03% at $74.44 at the time of publication on Friday, according to Benzinga Pro data.

Image via Shutterstock

Market News and Data brought to you by Benzinga APIs

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

To add Benzinga News as your preferred source on Google, click here.

Uber Technologies Inc (NYSE:UBER, XETRA:UT8) is strengthening its autonomous vehicle strategy through new robotaxi expansion plans in the United States and Europe, moves that Bank of America analysts believe could improve investor sentiment toward the company.

Uber recently announced plans to expand its autonomous vehicle partnerships to Houston with Nuro and Lucid, and to Zurich with WeRide. Bank of America analysts wrote that these developments enhance Uber's autonomous vehicle catalyst path, with five potentially notable launches across US and European cities expected in the second half of 2026.

The analysts maintained a ‘Buy’ rating on Uber shares, writing that successful launches could help shift the narrative around autonomous vehicle supply competition and support valuation expansion.

Uber stock has lagged the S&P 500 since mid-2025, according to the analysts, amid concerns about growing competition in autonomous driving from companies including Alphabet's Waymo and Tesla, as well as broader weakness in internet growth stocks.

Uber, Lucid and Nuro selected Houston as the second market for their robotaxi program after the San Francisco Bay Area, targeting an exclusive launch through the Uber platform by mid-2027.

The service is expected to use Lucid Gravity vehicles equipped with Nuro's Level 4 autonomous driving system. Uber has also secured a 50,000-square-foot depot and charging infrastructure in Houston to support fleet operations.

Bank of America analysts wrote that while some concerns remain regarding Nuro's technology and Lucid's ability to supply vehicles at scale, the Houston expansion suggests increasing confidence in future autonomous vehicle availability.

Separately, Uber and WeRide plan to launch a commercial robotaxi service in the Greater Zurich region later this year, subject to regulatory approval. Riders will be able to access the service through Uber's platform, while local partner Rydera will oversee fleet operations.

The Zurich deployment follows a recently announced expansion into Madrid and marks the fourth of 15 cities expected under the Uber-WeRide partnership. The companies have previously introduced robotaxi services in Abu Dhabi, Dubai and Riyadh.

Bank of America analysts wrote that the planned 2026 deployment timeline is encouraging and indicates that additional cities under the partnership could be introduced during the first half of 2027.

© sarawuth702 / iStock via Getty Images

Uber Technologies (NYSE:UBER | UBER Price Prediction) at $70.91 sits in a holding pattern. The stock absorbed a sharp leg lower on the same day it unveiled a Zurich robotaxi launch with WeRide and a global Level 4 partnership with Stellantis and Wayve, capturing why this name is interesting and uninvestable simultaneously.

Uber runs the world’s largest ride-hailing and food delivery network, with 199 million monthly active platform consumers and 3.6 billion trips last quarter. The platform shifted from cash-burning growth to a free-cash-flow machine, with management leaning into autonomy as the next decade’s flywheel.

Shares are down from $92.65 at the Q3 2025 earnings report to current levels, with the 52-week high of $101.99 now distant.

Why the Bulls See a Compounder on Sale Q1 2026 delivered Gross Bookings of $53.72 billion, up 25% year over year, operating income of $1.923 billion, up 56.6%, and free cash flow of $2.286 billion. Non-GAAP EPS grew 44% year over year, and Uber returned $3.011 billion through buybacks in a single quarter.

Valuation sits at trailing PE of 18 and free cash flow yield of 6.76%. Bulls argue the WeRide, Wayve, Lucid, and Nuro partnerships position Uber as the asset-light demand aggregator of autonomy. Jim Cramer recently flagged the name as “down 29% from its all time high” while earnings compound near 40%. Kevin Warsh’s debut Fed meeting frames a hawkish regime punishing long-duration tech multiples.

Why the Bears See a Multiple Trap Uber’s 200-day moving average sits at $82.41, well above current levels. Margin pressure from foreign equity revaluations has been relentless: a $1.50 billion pre-tax headwind in Q1 after a $1.6 billion hit in Q4, dragging GAAP net income down 85.19%.

A Consumer Reports investigation alleging AI-driven price discrimination, intensifying Waymo and Tesla competition, and an unprofitable Freight segment add pressure to the de-rating story.

Why Patience Is the Cleanest Trade Operating momentum is real, but the chart is broken and macro is hostile. The signal to watch is whether Q2 lands inside management’s $0.78 to $0.82 EPS guide without another nine-figure equity revaluation shock. Stabilization near $58.00 would imply a forward multiple consistent with the current rate regime.

What the Numbers Actually Say Uber trades at $70.91 against a Wall Street average target of $104.43, implying roughly 47% upside if consensus is right. Of 51 covering analysts, 9 rate it Strong Buy, 36 Buy, 5 Hold, and 1 Sell.

Uber is down 13.22% year to date and 16.34% over the past year, while the S&P 500 is up 8.66% year to date and 24% over twelve months. That is roughly 22 points of YTD underperformance.

The Verdict: Watching for Stabilization At $70.91, Uber’s risk/reward looks balanced.

The fundamental story is intact. Gross Bookings compound in the mid-20s, Uber One has reached 50 million members driving half of bookings, and the autonomy stack deepened with WeRide, Stellantis, Wayve, Lucid, and Nuro. But price action signals the market is repricing duration broadly rather than Uber-specific cash flows, and fighting that with fresh capital is a losing trade in a hawkish Warsh regime.

The bull case strengthens if the stock stabilizes in the $58 zone alongside a Q2 earnings report holding the EPS guide with normalizing equity revaluation drag. The bear case strengthens on a guide cut, regulatory escalation from the pricing investigation, or evidence that Waymo is taking incremental share in tier-one US cities.

For long-term holders, the buyback continues to compound per-share value. For prospective buyers, a confirmed price floor would offer a cleaner entry, because a great business at the wrong price still struggles in this macro.