Uber Stock (NYSE: UBER) Jumps on Dallas Robotaxi Launch and $125 Price Target Upgrade

Date: December 3, 2025
Ticker: Uber Technologies, Inc. (NYSE: UBER)

Uber stock is back in the spotlight after a busy day of news: a fresh robotaxi launch in Dallas, an upgraded Wall Street rating with a new $125 price target, and renewed debate about the company’s long‑term earnings power.

As of early afternoon trading on Wednesday, December 3, 2025, Uber stock was changing hands around $91.04, up nearly 4% on the day, giving the company a market capitalization of roughly $189 billion. ^[1]

Below is a detailed rundown of today’s news, current forecasts, and what analysts are saying about Uber stock.

Uber Stock Today: Price, Valuation and Recent Performance

Market data from StockAnalysis shows Uber stock trading at about $91.04, up 3.96% intraday on December 3. The shares have traded between $59.33 and $101.99 over the past 52 weeks, placing today’s price in the upper half of that range but below the recent high. ^[2]

Key snapshot metrics:

Market cap: $189.2 billion
Trailing 12‑month revenue: $49.6 billion
Trailing 12‑month net income: $16.6 billion
Trailing P/E ratio: 11.7
Forward P/E: ~26.9
Shares outstanding: ~2.08 billion ^[3]

Those numbers reflect a company that has moved decisively out of its “cash-burning startup” era and into consistent profitability, but still trades on growth expectations rather than mature‑utility multiples.

Multiple outlets, including Yahoo Finance and Investor’s Business Daily, note that today’s gains follow a recent pullback driven by concerns over guidance and robotaxi economics. The Dallas launch and fresh analyst enthusiasm have helped push Uber back toward its longer‑term uptrend. ^[4]

Dallas Robotaxi Launch: A Big Step in Uber’s Autonomy Strategy

The headline news today is Uber’s official launch of robotaxi rides in Dallas in partnership with autonomous driving startup Avride.

According to Uber’s own Business Wire press release, riders in Dallas requesting UberX, Uber Comfort, or Uber Comfort Electric can now be matched—at no extra cost—with an all‑electric Avride Hyundai Ioniq 5 robotaxi. The service covers roughly 9 square miles, including Downtown, Uptown, Turtle Creek and Deep Ellum, with plans to expand. ^[5]

Key details of the Dallas launch:

Hybrid network: Robotaxis operate alongside human drivers, with riders able to switch back to a non‑AV ride if they prefer. ^[6]
On‑board specialist: At launch, an employee sits in the driver’s seat to monitor the route. Uber and Avride position this as a step toward future fully driverless operations. ^[7]
App‑driven experience: Riders unlock the vehicle and start the trip directly from the Uber app, rather than interacting with a driver, and there’s no tip option for these AV rides. ^[8]
Opt‑in preferences: Users in Dallas can increase their chances of being matched with a robotaxi in the Ride Preferences section of the app. ^[9]

Business Insider and Axios both frame Dallas as Uber’s third U.S. city with autonomous ride‑hailing options, joining Austin and Atlanta, where Uber partners with Waymo. ^[10]

The Dallas launch also comes on the heels of Uber’s fully driverless robotaxi deployment in Abu Dhabi, where it partners with Chinese AV company WeRide—its first city outside the U.S. to host Level 4 driverless operations on the Uber platform. ^[11]

For investors, the Dallas rollout is less about near‑term revenue and more about:

Proving that Uber’s “hybrid network”—human drivers plus AVs—can scale.
Strengthening Uber’s story as a technology platform rather than just a ride‑hail marketplace.
Building optionality for higher long‑term margins if autonomy meaningfully reduces driver‑related costs.

Q3 2025 Results: Profitable Scale With Room to Improve

Today’s optimism rests in part on a strong fundamental backdrop.

On November 4, 2025, Uber reported its Q3 2025 results:

Trips: 3.5 billion, up 22% year over year.
Monthly Active Platform Consumers (MAPCs): up 17%.
Gross bookings:$49.7 billion, up 21% YoY.
Revenue:$13.5 billion, up 20% YoY (19% on a constant‑currency basis). ^[12]
Income from operations:$1.1 billion, up 5% YoY.
Net income:$6.6 billion, inflated by a $4.9 billion tax valuation release and investment gains. ^[13]
Adjusted EBITDA:$2.3 billion, up 33% YoY, with EBITDA margin improving to 4.5% of gross bookings. ^[14]
Free cash flow:$2.2 billion in the quarter, continuing Uber’s cash‑generation streak. ^[15]

For Q4 2025, management guided to:

Gross bookings: $52.25–$53.75 billion (17–21% YoY growth).
Adjusted EBITDA: $2.41–$2.51 billion (31–36% YoY growth). ^[16]

Some investors initially balked at the Q4 outlook, which, while strong, did not dramatically exceed bullish expectations. Quiver Quantitative’s analysis notes that social media chatter highlighted “frustration over a stock dip tied to weaker‑than‑expected Q4 guidance” but also acknowledged that many see that as a short‑term wobble in an otherwise solid growth story. ^[17]

Still, the combination of double‑digit top‑line growth and expanding margins is a key plank in the bullish thesis that is being reinforced by today’s analyst actions.

Wall Street Sentiment: Strong Buy Consensus and Rising Targets

From a sell‑side perspective, Uber is firmly in “market darling” territory.

Data from StockAnalysis shows: ^[18]

35 analysts cover Uber.
The average rating is “Strong Buy.”
The 12‑month consensus price target is $109.09, implying roughly 20% upside versus today’s ~$91 share price.

Quiver Quantitative aggregates 27 recent analyst price targets and reports a median target of $110. ^[19]

Arete’s Upgrade to Buy – New $125 Price Target

The headline analyst move today comes from Arete Research:

Arete upgraded Uber from Neutral to Buy on December 3, 2025.
The firm boosted its price target from $82 to $125, a 52% increase in the target itself and about 37% upside from current levels. ^[20]

Reports from Benzinga, Yahoo Finance and others link the upgrade explicitly to Uber’s progress in autonomy (including the Dallas robotaxi launch) and its improving profitability profile, with the firm arguing that prior investor worries about regulation and the economics of robotaxis may be overstated. ^[21]

Other Major Price Targets

Quiver’s breakdown shows a cluster of bullish targets from other firms over the last month: ^[22]

UBS: $122
Bernstein: $115
Truist: $110
Cantor Fitzgerald: $108
DA Davidson: $108
BMO Capital: $106

Importantly, Quiver notes that 21 firms have Buy‑equivalent ratings on Uber and none have issued Sell ratings in recent months, underscoring the consensus that Uber remains a high‑conviction growth name. ^[23]

Uber as a Top Pick for December

Motley Fool writers, in coverage syndicated via Nasdaq, named Uber among their “top ranked stocks to buy now in December 2025”, citing strong growth across key operating metrics and the company’s transformation into a consistent cash generator. ^[24]

That kind of retail‑facing endorsement tends to support retail inflows, especially when it aligns with institutional bullishness and fresh catalysts like today’s robotaxi news.

What the Market Is Debating: Growth Drivers vs. Risks

Even with a broadly bullish backdrop, Uber is not a risk‑free story. Today’s moves have sharpened the key debates.

Growth Drivers

Mobility and Delivery Scale
Uber’s core Mobility and Delivery businesses continue to deliver double‑digit growth. In Q3 2025, Mobility bookings were up about 20% and Delivery bookings about 25% year over year. ^[25]
Platform Expansion
Uber is increasingly positioning itself as a “movement platform,” including retail delivery, partnerships with brands like PacSun, Camping World and Lush, as well as newer verticals such as Uber Health and freight solutions. ^[26]
Membership and High‑Value Users
While today’s news is more about autonomy, prior commentary from management and analysts has emphasized products like Uber One, which deepen engagement and improve unit economics by reducing churn and increasing order frequency. ^[27]
Autonomy and AI
The Dallas launch, the Abu Dhabi fully driverless rollout, and partnerships with firms like Waymo, WeRide and Avride are central to the view that Uber can eventually capture more of the profit pool from each trip by reducing driver‑related costs and integrating AI into routing, pricing and matching. ^[28]

Key Risks

Regulation and Labor Models
Uber’s Q3 release explicitly highlights legal and regulatory developments—particularly around its relationships with drivers and couriers—as a material ongoing risk. Changes to classification rules, minimum pay mandates or social‑security contributions could compress margins. ^[29]
Autonomy Backlash and Safety
Robotaxis remain controversial, especially following well‑publicized incidents affecting competitors in other U.S. cities. Dallas is launching with safety drivers and a cautious footprint, but any high‑profile accidents could slow expansion or invite stricter oversight.
Competition in Robotaxis and Ride‑Hailing
Uber’s autonomy strategy is partnership‑based, but it competes with some of those same partners (e.g., Waymo) in key markets. There is an open question about who ultimately captures the majority of robotaxi economics—the platform (Uber), the AV operator, or both. ^[30]
Insider Selling and Institutional Rotation
Quiver data shows heavy insider selling over the last six months: CEO Dara Khosrowshahi and other executives have sold hundreds of thousands of shares, while there has been only one small insider purchase. Some large institutions have also reduced positions, though others have added aggressively. ^[31] Insider sales don’t automatically signify trouble (they are often driven by diversification or tax planning), but they can dampen sentiment if investors fear management sees limited incremental upside.

How Today’s News Changes the Uber Stock Story

Put together, the December 3, 2025 developments tilt the Uber narrative in a more constructive direction:

Dallas robotaxis show Uber pushing autonomy from press‑release concept to everyday reality in a major U.S. city.
A high‑profile upgrade and $125 price target from Arete underscores that at least some analysts believe the market is underestimating Uber’s long‑term earnings power and autonomy optionality. ^[32]
Q3 results and Q4 guidance confirm that Uber can grow at high teens to low‑20s percentages while generating billions in free cash flow—a combination that remains relatively rare at Uber’s scale. ^[33]

At the same time:

Regulatory, autonomy and competitive risks are not going away.
Insider selling and mixed institutional flows show that not every large holder is simply “buy and hold forever.” ^[34]

For now, though, the weight of current data still leans bullish: Uber trades at a modest earnings multiple relative to its growth rate, enjoys a Strong Buy consensus with double‑digit upside baked into forecasts, and is actively executing on growth initiatives in both autonomy and delivery.

What Investors May Want to Watch Next

Looking beyond today:

Execution in Dallas: How frequently riders actually choose robotaxis, the pace of territory expansion, and safety track record. ^[35]
Further city launches: Uber has flagged a goal of expanding autonomous services to more cities by 2026; new markets and partners could materially change the trajectory of autonomy economics. ^[36]
Q4 2025 results and 2026 guidance: Whether the company can maintain 20%‑ish growth while expanding margins will heavily influence whether targets like $109 or $125 prove conservative or optimistic. ^[37]
Regulatory moves: Any new legislation around gig workers, AV testing, or data/AI usage across Uber’s markets.