According to multiple industry reports, Uber has initiated talks to acquire SpotHero, a parking reservation startup operating in over 400 cities across North America. The deal, if completed, would integrate SpotHero’s network of parking garages and lots directly into Uber’s app, enabling riders to pre-book and pay for parking alongside ride-hailing services. SpotHero processed more than 10 million parking reservations in its last fiscal year and generated revenue growth of 45% year-over-year, according to its most recent investor presentation. By incorporating reserved parking into its platform, Uber aims to address the first- and last-mile challenge in urban markets and deepen engagement with existing users while tapping into an estimated $30 billion addressable parking market.

In the third quarter, Econ Financial Services Corp disclosed a new stake of 15,700 shares in Uber, valued at approximately $1.538 million. Pershing Square Capital Management added a position worth roughly $2.208 billion in the first quarter, while Norges Bank acquired $2.348 billion of stock in the second quarter. Notably, Kingstone Capital Partners Texas boosted its holding by 334,075.7% to 19,973,682 shares valued at $1.863 billion, and Pacer Advisors expanded its position by 1,905.3% to 4,350,479 shares worth $426.2 million. Overall, institutional and hedge fund ownership stands at 80.24%. Concurrently, insiders have sold 14,875 shares valued at $1.349 million over the past 90 days, with CFO Prashanth Mahendra-Rajah and General Counsel Tony West reducing their holdings by 21.29% and 1.75%, respectively.

In its most recent quarterly report, Uber delivered earnings per share of $3.11, surpassing consensus estimates by $2.44, on revenue of $13.47 billion versus expectations of $13.25 billion. The company achieved a net margin of 33.54% and a return on equity of 68.17%, while revenue rose 20.4% year-over-year. Analysts have responded positively: Susquehanna reaffirmed a positive rating with a $110 target, Stifel Nicolaus set a $122 objective, Truist Financial lifted its target to $110 and maintained a buy rating, and Cantor Fitzgerald raised its target to $108. Uber’s average analyst price target stands at $108.82, reflecting a consensus view of moderate buy.