Uber’s gross bookings rose over 21% for the third straight quarter, driven by AI adoption and autonomous vehicle investments.
Stifel raised its price target on Uber Technologies Inc. (UBER) to $102 from $94 after the company reported solid first-quarter 2026 results. Gross bookings growth exceeded 21% for the third consecutive quarter, with earnings scaling at more than twice the topline rate.
Uber’s AI-driven initiatives and capital-efficient approach to autonomous vehicles fueled the upgrade. Gross bookings per trip rose by 400 basis points, while US mobility market share expanded in key cities like San Francisco and Los Angeles. International delivery growth also accelerated, with Australia trips up 30% year over year.
The firm highlighted Uber’s core platform outlook, including autonomous vehicle rollouts, Eats, and cross-product usage, as key revenue drivers. Uber’s AI Solutions division now provides enterprise data services, enhancing marketplace efficiency and model training capabilities.