Uber Shares Drop 30% Amid Robotaxi Competition and Investment Shifts
Uber Technologies Inc. faces a year-long stock decline despite record cash flow and growing market share in autonomous vehicle fleets.
Shares of Uber Technologies Inc. have fallen nearly 30% over the past year, trading at $69.18. The decline follows a series of earnings misses and headwinds, including competition from Tesla and Waymo robotaxis, rising insurance reserves, and a $4 billion investment in Delivery Hero that slowed share buybacks.
Despite the stock performance, the company maintains trailing free cash flow exceeding $10 billion. Uber is currently operating autonomous vehicle services in seven cities and plans to expand to 15 by the end of the year. Data indicates Uber's market share is increasing in mature autonomous vehicle markets, with fleet utilization roughly 30% higher than single-brand operators.
Wall Street analysts remain largely bullish, with a consensus price target of $100.77. Mark Mahaney of Evercore ISI set a street-high target of $150, suggesting the company could double in value by expanding high-margin advertising, Uber One services, and acting as the orchestration layer for autonomous fleets. Additionally, a Seeking Alpha analyst upgraded the stock to a Buy rating on September 25, 2026, citing an attractive valuation and a de-risked outlook. Uber management has indicated that larger share buybacks will resume within months.
