Uber announcement sends Hertz stock to three-month high

Hertz (NASDAQ: HTZ) is ripping higher on Thursday morning after announcing an expanded multi-year agreement with Uber Technologies (NASDAQ: UBER).

The core this deal involves HTZ’s subsidiary, Oro Mobility, becoming a primary fleet management partner for UBER’s autonomous robotaxi program.

Following today’s rally, Hertz stock is up a remarkable 80% versus its year-to-date low.

Does Uber deal warrants buying Hertz stock?

HTZ’s expanded partnership with UBER positions Oro Mobility as a core infrastructure provider for one of the most important transitions in transportation – the move from human‑driven rides to autonomous fleets.

By handling charging, cleaning, repairs, depot staffing, and day‑to‑day fleet orchestration, Hertz secures a high‑visibility services business rather than relying solely on cyclical rental demand.

The program’s use of Lucid vehicles equipped with Nuro autonomous technology further ties Hertz to a premium, next‑generation robotaxi ecosystem – one that Uber plans to scale across major US markets.

As UBER grows its autonomous operations beyond the Bay Area in 2027, HTZ shares will benefit from multi‑year, volume‑based service revenue that grows with Uber’s fleet.

Strategically, this partnership signals Hertz Global Holdings’ pivot from a traditional rental model to a full‑stack mobility‑operations company, leveraging its century of fleet‑management expertise.

Investors are cheering the announcement because they view this as a high‑margin, more defensible business line aligned with the broader Transportation‑as‑a‑Service shift.

Why else are HTZ shares pushing higher today?

Beyond autonomous vehicles, Hertz and Uber launched a new service model where Oro Mobility provides high-quality vehicles managed by its own professional drivers.

By supplying high‑quality vehicles and professional drivers through Oro Mobility, HTZ moves into a stable, contract‑based revenue stream with far better visibility than traditional rentals.

The fact that this service has already scaled beyond Atlanta into Los Angeles, San Francisco, and soon New Jersey signals real traction – not a pilot.

As UBER expands this model, Hertz shares will benefit from higher utilization, predictable fleet economics, and multi‑market recurring revenue, strengthening the long‑term investment case.

Is it to late too invest in Hertz Global?

HTZ stock is worth owning also because recent data from Cox Automotive showed a 6.2% year-on-year increase in the Manheim Used Vehicle Value Index for March 2026.

This is crucial for the car rental firm because higher resale values directly lower their Depreciation per Unit (DPU), which has been a major headwind for the stock over the last year.

From a technical perspective, Hertz has ripped through its major moving averages (MAs), with an RSI in the early 60s indicating room for further upside ahead.

Importantly, despite today’s meteoric rally, HTZ is trading at just 0.3x sales, according to Barchart, suggesting that, for long-term investors, there may still be time to build a position in Hertz Global Holdings Inc.