Uber Technologies (UBER): Evaluating Valuation as Serve Robotics Expands Robot Delivery With DoorDash Partnership

Serve Robotics, in which Uber Technologies (UBER) maintains a meaningful stake, has expanded its sidewalk robot delivery rollout by partnering with DoorDash. This move brings fresh competitive energy to the autonomous delivery landscape.

See our latest analysis for Uber Technologies.

Uber Technologies has ridden a wave of momentum this year, with its share price gaining nearly 50% year-to-date as the company doubles down on autonomous delivery and builds strategic partnerships. While the pace of short-term gains has moderated lately, Uber’s multi-year total shareholder return remains exceptional, up over 240% in just three years, underscoring investors' confidence in its growth story as the sector evolves.

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The question for investors now is whether all this innovation and momentum make Uber undervalued at these levels, or if the market has already priced in years of future growth, leaving little room for upside.

Most Popular Narrative: 25.7% Overvalued

The most popular narrative points to Uber Technologies trading well above its calculated fair value. The last close of $94.25 sits far above the narrative's suggested entry range, flagging a significant disconnect in perceived upside at current levels.

Achieved sustainable profitability with $1.78B net income versus a $654M loss a year ago. Exceptional FCF of $6.9B in 2024 and $2.3B in Q1 2025.

Read the complete narrative.

Want to uncover what’s driving this aggressive premium? The key may lie in sky-high margin assumptions and bullish projections that challenge conventional expectations. Curious about the future growth logic that shapes this viewpoint? Find out what sets this narrative apart from the crowd.

Result: Fair Value of $75.00 (OVERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, persistent revenue growth and successful debt management could challenge the overvaluation thesis, potentially pushing investor sentiment in a more optimistic direction.

Find out about the key risks to this Uber Technologies narrative.

Another View: SWS DCF Model Sees a Different Story

While multiples suggest Uber is trading at a hefty premium, our SWS DCF model paints a dramatically different picture. Uber's shares are 41% below their estimated fair value of $159.93. This sharp contrast raises a new question: are investors missing hidden value, or is the market right to price in caution?

Look into how the SWS DCF model arrives at its fair value.

Build Your Own Uber Technologies Narrative

If you have your own take or prefer diving into the numbers firsthand, you can craft a personalized view in just a few minutes: Do it your way

A great starting point for your Uber Technologies research is our analysis highlighting 4 key rewards and 3 important warning signs that could impact your investment decision.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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