Bill Ackman added a position in Uber Technologies (NYSE:UBER) to the Pershing Square Capital Management investment fund (NYSE:PSUS) in the first quarter of 2025. With Uber remaining one of the largest positions for the hedge fund, Ackman couldn’t help but agree with a recent social media post about the stock looking attractive at current levels.
The ride-sharing company recently reported second-quarter (Q2) financial results and Q3 guidance. While Uber stock is trading higher on Thursday, shares remain down 15% year-to-date in 2026.
"It actually started to look like a no-brainer. It’s currently at 15x 2027 earnings and 12x 2028 earnings while double digit annual growth expected through 2030," social media user and financial writer Oguz Erkan tweeted.
"Agreed," Ackman tweeted with the full post, helping it garner over one million views.
Uber Stock At A Discount
Erkan argues that investors are giving Uber a discount because they misunderstand its future cash flows and focus too heavily on robotaxi disruptions.
"Even if autonomous taxis become mainstream globally, it’ll be a pretty fragmented market with Waymo, Tesla, AVride, Zoox, etc. How many apps people are willing to download for mobility?"
The writer said companies like Tesla and Waymo could position themselves as equipment providers rather than service providers in the future, which would benefit Uber.
"Uber could have had a faster pivot to robotaxis so far, but it is still the primary candidate to dominate the market and 15x 2027 earnings more than makes up for the execution risk. They scale robotaxis in a few big cities and we’ll quickly see the stock above $100 again."
After Q2 results, analysts have questions on the company’s long-term autonomous vehicle plans. While some analysts cut their price targets, the commentary on the future is bullish on the autonomous vehicle opportunity, especially with Uber having multiple partners globally.
Uber is also committing $10 billion to invest in, partner with and launch vehicle fleets with autonomous vehicle companies, showing its commitment to the sector and future growth.
Ackman Bets Big on Uber
Ackman announced a stake in Uber back in February 2025, with the exact size of more than 30 million shares unveiled officially in May 2025.
Pershing Square started with 30,301,161 Uber shares in Q1 of 2025, with the stock ranking as the top investment for the hedge fund at the time, worth over $2.2 billion and making up 19% of assets.
Ackman later cut the position in small increments in the third and fourth quarter of 2025 while the stock remained a top investment.
In the most recently reported Q1, Pershing Square sold around 1% of the Uber position, now holding 29,958,771 shares. The position was worth $2.15 billion at the end of Q1 and ranked third in the investment portfolio at 16% of assets.
For more than a year, Uber has been one of Ackman’s biggest bets, currently trailing only Brookfield and Amazon by percentage in the portfolio.
Uber Stock Price Action
At last check on Thursday, Uber stock is up 3.8% to $70.74 versus a 52-week trading range of $65.41 to $101.94. The share price is down 14.6% year-to-date.
Photo: Shutterstock
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