On November 5th, after Uber ( Uber ) released its third-quarter financial report, Goldman Sachs reiterated its "buy" rating and maintained a target price of $110. The bank believes that although Uber's third-quarter ride-hailing business revenue fell short of expectations, its delivery business continued to grow strongly, and the deployment of autonomous vehicles is expected to expand further, providing support for the company's long-term growth. Based on the current stock price of $69.87, the target price indicates a potential upside of about 57%.

In terms of autonomous driving, Uber expects the number of driverless vehicles on its platform to increase from around 700 at the end of 2026 to 2,000 by the end of 2027. In terms of the ride-hailing business, some international markets were affected by a shortage of drivers, resulting in revenue in the third quarter falling below the expectations of Goldman Sachs and other analysts. However, management stated that the overall growth trend of the ride-hailing business improved in October.

In terms of delivery services, Uber's total bookings in the third quarter increased by 23% year-on-year, mainly driven by the increased activity of Uber One members and greater investment from merchants. Among these, the total bookings for fresh groceries and retail services grew by about 40% year-on-year, with merchants' annual spending on advertising and promotional activities exceeding $10 billion.

Goldman Sachs pointed out that the expansion of user base, the increase in the penetration rate of Uber One members, and the addition of various platform services will continue to support Uber's long-term revenue growth and improvement in profit margins.