Is UBER a good stock to buy? We came across a bullish thesis on Uber Technologies, Inc. on Rijnberk InvestInsights’s Substack by Daan | InvestInsights. In this article, we will summarize the bulls’ thesis on UBER. Uber Technologies, Inc.’s share was trading at $70.71 as of June 5th. UBER’s trailing and forward P/E were 17.92 and 21.55 respectively according to Yahoo Finance.
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Uber Technologies, Inc. (NYSE: UBER) is a global mobility and delivery platform that continues to strengthen its position through powerful network effects, expanding user engagement, growing profitability, and a substantial runway across ride-hailing, delivery, advertising, and autonomous vehicles. The bullish thesis centers on Uber’s ability to compound growth at scale while simultaneously expanding margins and generating significant free cash flow.
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In the first quarter, the company delivered another strong performance, with trips rising 20% year-over-year to 3.6 billion, monthly active platform consumers increasing 17% to 199 million, and gross bookings growing 21% on a constant-currency basis to $53.7 billion, despite weather disruptions and geopolitical headwinds. Both Mobility and Delivery posted robust growth, supported by product innovation, expanding merchant relationships, increasing subscription adoption through Uber One, and deeper customer engagement.
Profitability also continued to improve, with adjusted EBITDA increasing 33% year-over-year to $2.5 billion and trailing twelve-month free cash flow reaching $9.8 billion, allowing management to aggressively repurchase shares while maintaining a healthy balance sheet. Beyond its core businesses, Uber is expanding into adjacent opportunities such as grocery, retail, parking reservations, hotel bookings, and advertising, increasing its total addressable market.
The company also views autonomous vehicles as a major long-term growth driver rather than a threat, leveraging its marketplace, customer base, and infrastructure to become the preferred platform for robotaxi operators. Management expects continued growth acceleration supported by product innovation, improving economics, and expanding autonomous vehicle partnerships.
Despite these strengths, Uber trades at approximately 12x forward free cash flow, 14x EV/EBITDA, and a PEG ratio of 0.9x, levels viewed as disconnected from its quality and growth prospects. Based on projected earnings, cash flow expansion, and moderate multiple normalization, the thesis estimates a 2028 price target of $146 per share, implying more than 100% upside from current levels.
Previously, we covered a bullish thesis on Uber Technologies, Inc. (UBER) by Quality Equities in March 2025, which highlighted its dominant mobility and delivery platform, accelerating profitability, and autonomous vehicle opportunity. UBER’s stock price has depreciated by approximately 6.48% since our coverage. Daan | InvestInsights shares a similar view but emphasizes Uber’s strong Q1 execution, expanding margins, growing free cash flow, and potential for more than 100% upside through 2028.
Uber Technologies, Inc. is on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 153 hedge fund portfolios held UBER at the end of the first quarter which was 147 in the previous quarter. While we acknowledge the risk and potential of UBER as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than UBER and that has 10,000% upside potential, check out our report about this cheapest AI stock.
Disclosure: None.
