Citizens Securities reiterated its "Market Outperform" rating for Uber Inc. on Friday, maintaining a price target of $100 per share. The firm’s outlook aligns with Mizuho’s parallel reiteration of an "Outperform" rating and a $112 target.
Uber’s shares, trading at $78.80 on the New York Stock Exchange, remain below InvestingPro’s fair-value estimate. The company’s market capitalization stands at $160.95 billion.
The Nevada Transportation Authority approved commercial robotaxi licenses for three operators this week. Tesla secured approval for up to 5,000 vehicles, while Waymo and Uber each received approvals for 1,000 vehicles. Uber’s licenses cover operations through Motional and Zoox, its autonomous vehicle partners.
Uber launched its first autonomous ride-hailing service in Europe last month, beginning operations in Zagreb. The service is operated by Croatian startup Verne, which owns and manages the fleet, while Pony.ai provides the autonomous driving technology. Pony.ai plans to expand the partnership, deploying more than 2,000 robotaxis across Europe in four additional cities, though specific locations and timelines have not been disclosed.
Citizens anticipates a significant ramp-up in commercial autonomous offerings on Uber’s platform starting in the fourth quarter of 2026, with further growth expected through 2027.
The Nevada approvals follow Tesla’s planned rollout of its CyberCab robotaxi service in Austin, while Waymo continues to expand its autonomous network in multiple U.S. markets.
