TD Cowen Keeps $108 PT on Uber, Reaffirms Buy Rating

TD Cowen has reaffirmed its "Buy" rating and $108 price target on Uber Technologies, Inc. (NYSE:UBER) after meeting with company executives. The meeting covered various aspects of Uber's business, including growth in US trip numbers, decreasing insurance costs, autonomous vehicle business models, and the Uber One membership program. TD Cowen highlighted Uber's ability to innovate and expand its service portfolio, as well as its stronger-than-expected second-quarter results.

TD Cowen has reaffirmed its "Buy" rating and $108 price target on Uber Technologies, Inc. (NYSE:UBER) following a recent meeting with the company's executives. The investment firm highlighted several key aspects of Uber's business that underscore its potential for continued growth and profitability.

Uber's strong performance in the U.S. market, particularly in trip numbers, was a key point of discussion. The company reported a significant increase in trips, with a 18% year-over-year growth in Q2 2025 [3]. This growth is driven by a 15% increase in Monthly Active Platform Consumers (MAPCs) and a 2% rise in trips per user, indicating a robust user base and engagement.

The firm also noted the company's ability to manage insurance costs effectively, which is crucial for maintaining profitability in the ride-hailing sector. This cost management, coupled with the company's strong second-quarter results, positions Uber favorably in the eyes of analysts.

One of the most significant aspects of the meeting was the discussion on Uber's autonomous vehicle business models. The company has been actively pursuing partnerships and investments in this area, aiming to capture a share of the $10 trillion autonomous mobility market by 2030 [1]. TD Cowen recognized the strategic importance of these partnerships and the potential they hold for future growth.

The Uber One membership program was also highlighted as a key driver of revenue diversification. The program, which offers perks and discounts to frequent users, has shown strong growth, with a 12% increase in membership in Q2 2025 [3]. This growth indicates that users are finding value in the program and are more likely to remain engaged with the platform.

In addition to these points, TD Cowen emphasized Uber's ability to innovate and expand its service portfolio. The company's recent acquisition of Trendyol Go and its strategic partnerships with other companies demonstrate its commitment to diversification and growth.

Overall, the reaffirmation of the "Buy" rating and the $108 price target reflect TD Cowen's confidence in Uber's ability to continue its growth trajectory. The firm's strong performance in the second quarter, coupled with its strategic positioning in the autonomous vehicle market and its ability to manage costs effectively, make it a compelling investment opportunity.

References:
[1] https://www.ainvest.com/news/lucid-group-uber-partnership-catalyst-500-sales-growth-era-ev-innovation-2508/
[2] https://finance.yahoo.com/news/td-cowen-reaffirms-buy-rating-072452673.html
[3] https://www.ainvest.com/news/uber-q2-2025-performance-bull-case-validated-analysts-fundamentals-2508/