Wedbush Downgrades Uber Stock to Neutral, Raises Price Target to 85

Wedbush analyst Scott Devitt downgraded Uber Technologies (UBER) stock from Outperform to Neutral, citing a lack of clear near-term catalysts despite raising the price target to $85. While Uber's first-quarter earnings beat expectations, its revenue and gross bookings fell slightly short, and the magnitude of earnings beats has diminished as the company's performance has largely been priced in by the market. Devitt highlighted that Uber's premium valuation compared to peers may be difficult to sustain in a potential cyclical downturn, urging investors to focus on demand stability and margin resilience rather than expecting outsized gains. Despite the downgrade, Uber's stock has rallied over 36% in 2025, and some analysts remain bullish, with Jefferies raising its price target to $100 and maintaining a buy rating based on solid growth and progress in autonomous vehicle partnerships. The mixed analyst views reflect confidence in Uber's strong business execution but caution about near-term growth prospects and valuation risks. Investors will be closely watching upcoming quarterly results and guidance for signs of new growth drivers.