Needham Raises Uber Price Target to $109

Needham has boosted its price target on Uber Technologies (UBER) to $109, reflecting stronger ride pricing trends and robust demand across its platform.

• 🚕 Uber vs. Lyft: Both firms have raised ride prices, but Uber’s shorter wait times are seen as a differentiator.
• 📈 Valuation Upside: The target increase is driven by a higher valuation multiple tied to improving fundamentals.
• 🔍 Autonomous Vehicle Watch: Near-term sentiment remains closely linked to progress in autonomous driving initiatives.
• ⚠️ Competitive Risks Remain: Despite growing competition in the mobility space, Needham remains bullish on Uber’s long-term growth potential.