Pershing Square Adds Uber Stake as Stock Trades at 19 Times Earnings

1 articles · Updated · Yahoo Finance · Aug 18

Pershing Square disclosed Uber as a new Q2 2026 portfolio position, highlighting the ride-hailing company in its latest investor letter.
Uber shares were relatively unchanged in the quarter and still down 12% year to date, but Pershing Square said earnings are on pace to grow about 35% this year.
The fund argued Uber’s valuation has become disconnected from fundamentals, with the stock trading at 19 times earnings near its lowest-ever multiple.
Investor concern over autonomous vehicles and Uber’s strained relationship with Waymo has weighed on the stock, even as the company plans AV launches in multiple new cities later this year.
Uber closed at $74.99 on Aug. 17, giving it a $153.17 billion market value; 153 hedge funds held the stock at the end of Q1, up from 147 a quarter earlier.