Wells Fargo Cautious on Uber Technologies (UBER)’s Near-Term Outlook

Uber Technologies, Inc. (NYSE:UBER) is included in our list of the 14 hedge fund favorites with strong setup in 2026.

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On March 30, 2026, Wells Fargo reduced its price target for Uber Technologies, Inc. (NYSE:UBER) from $100 to $95 while keeping an “Overweight” rating. This indicates a slightly more cautious assessment of the stock, even if Wells Fargo maintained its broader thesis.

According to Wells Fargo, driverless cars are still a major part of the investment narrative, but any significant impact on Uber’s fundamentals is more likely to occur in 2027 and later. Uber Technologies, Inc. (NYSE:UBER)’s continued aggressive investment approach and weather-related disruptions partially offset the firm’s positive operating trends in the near term.

On March 12, 2026, Bernstein SocGen Group reaffirmed its “Outperform” rating and $110.00 price target in response to Uber Technologies, Inc. (NYSE:UBER)’s multi-year partnership with Zoox that day, further bolstering the longer-term autonomous vehicle theme.

Beginning in Las Vegas in the summer of 2026 and extending to Los Angeles by the middle of 2027, the agreement will introduce specially designed autonomous vehicles to Uber’s network.

Uber Technologies, Inc. (NYSE:UBER) is a global technology platform that primarily operates as a ride-hailing service, connecting users with drivers through a smartphone app. It facilitates personal mobility (ridesharing), food delivery (Uber Eats), and freight transport. Uber also invests in autonomous vehicles and future transportation solutions.

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