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UBER Resumes Shared Rides Service Across Some U.S. Cities
Uber Technologies (UBER - Free Report) has resumed its shared-ride service in some cities in the United States after suspending the same in 2020 due to the pandemic.
UBER said that UberX Share is currently available in cities like New York City; Los Angeles; Chicago; San Francisco; Phoenix, AZ; San Diego, CA; Portland, OR; Indianapolis, IN and Pittsburgh, PA. The company expects to expand the service to other cities this summer.
Riders booking an UberX Share will receive an instant discount of up to 20% off the total fare if matched with a co-rider along the way. The service will only match riders heading in the same direction to prevent delays in pick ups and drop offs. Riders will arrive at their destination “no more than 8 minutes later than an UberX ride”, UBER said.
Uber Technologies, Inc. Price
Uber Technologies, Inc. price | Uber Technologies, Inc. Quote
The shared ride service is a more sustainable choice for customers as two or more people ride on one car, reducing the number of cars on the roads, UBER said. This way, transportation can be made more affordable by reducing gas usage, vehicle miles and emissions per passenger, the company added.
Zacks Rank & Key Picks
Uber carries a Zacks Rank #3 (Hold).
Some better-ranked stocks within the broader Internet - Services industry are as follows:
Baidu (BIDU - Free Report) carries a Zacks Rank #2 (Buy). The company has a stellar earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 52.9%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Baidu have gained 1.1% in the past six months.
HealthStream (HSTM - Free Report) carries a Zacks Rank #2. The company’s earnings have surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 372.9%.
Shares of HealthStream have lost 24.5% in the past six months.