TLDR
- Citizens reiterated a “Market Outperform” rating and $100 price target on Uber (UBER)
- UBER jumped 5.6% in the afternoon session Friday, currently trading around $75.94
- The analyst cited growth in Waymo rider-only miles through Uber’s platform as a key driver
- Waymo cumulative rider-only miles grew 44.5 million quarter-over-quarter in Q1 2026, up 134% year-over-year
- Uber is down 8.4% year-to-date and sits 24.1% below its 52-week high of $100.10
Uber (UBER) stock climbed 5.6% Friday afternoon after Citizens reiterated its “Market Outperform” rating and $100 price target on the stock, pointing to continued growth momentum tied to Waymo’s expansion through Uber’s platform.
The stock was trading at $75.94 at the time of writing, sitting 24.1% below its 52-week high of $100.10 set in October 2025. Uber is down 8.4% since the start of the year.
The Citizens analyst flagged Waymo’s “rider-only miles” — trips taken in Alphabet’s autonomous vehicles available via the Uber app — as a key positive. In Q1 2026, Waymo added 44.5 million cumulative rider-only miles quarter-over-quarter, a 14% increase and 134% rise year-over-year.
That said, momentum did slow. In Q4 2025, Waymo’s miles grew 40% quarter-over-quarter and 157% year-over-year, so the deceleration was clear. Citizens attributed the slowdown to supply constraints as Waymo transitions from its fifth-generation Jaguar I-PACE to its sixth-generation Ojai vehicle. The Ojai began public rider trips in May 2026.
Waymo Geography Shifting
San Francisco and Los Angeles accounted for roughly 55% of Q1 2026 miles, down from 62% in Q4 2025. Atlanta entered the reporting mix for the first time, contributing 11% of Q1 mileage. Markets including Houston, San Antonio, and Orlando are not yet reflected in Waymo’s reported numbers.
Citizens noted those figures are likely understated, given new markets draw supply away from established ones while Waymo remains constrained overall.
This isn’t the first catalyst for UBER this week. Two days earlier, the stock gained 5.8% after Uber announced it was adding five new retail partners to the Uber Eats marketplace — Kiehl’s, FedEx Office, Blick Art Materials, Academy Sports + Outdoors, and Choice Pet.
More Catalysts in the Mix
That same day, Tigress Financial Partners raised its price target on UBER to $115. A filing also disclosed that U.S. Representative Nancy Pelosi made a new bullish bet on Uber through long-dated call options. Separately, Uber revealed plans with partner WeRide to launch a commercial robotaxi service in Zurich, its second planned European deployment.
On the competitive front, Wells Fargo data showed Uber’s delivery service saw a slight 1% decline in product prices and consumer fees — a contrast to DoorDash, which raised fees by 21% while cutting product prices by 4%.
Lime, the electric scooter and bike company, named Uber as an anchor investor in its upcoming IPO.
Investors who put $1,000 into Uber five years ago are sitting on roughly $1,486 today.
🚨 Our JUNE Stock Picks Are Live!
A new month means new opportunities. Our analysts have just released their top stock picks for June, highlighting companies with strong momentum that rank highly on our KO Score algorithm. We’re also now sharing trade ideas for both long-term and short-term investors, giving you more ways to spot potential opportunities in the market.
Sign up to Knockout Stocks today and get 50% off to unlock the full list and see which stocks made the cut.
Use coupon code Special50 for your exclusive discount!
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
