We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Uber (UBER) Announces Expansion of Its Car-Sharing Service
Read MoreHide Full Article
Uber Technologies (UBER - Free Report) announced expansion plans of to its car-sharing service at Go-Get event, which was held in London on Jun 8. The ride-hailing company intends to launch the above service in the cities of Boston and Toronto.
The service allows people to borrow vehicles from private car owners for an agreed number of hours or days. Uber’s car-sharing service is currently available in Australia. The service was launched in 2022, post-acquisition of the peer-to-peer car-sharing network Car Next Door.
Car Next Door was founded in Australia in 2013. The objective was to do away with the “one person, one car” mentality apart from reducing the negative effects like air pollution. The car-sharing service, apart from generating revenues for car owners, makes it easy for any car to be turned into a shared car. Following its takeover, Car Next Door came to be known as Uber Carshare.
Ever since its inception in 2013, more than 1.1 million trips have been booked with Car Next Door. Following its takeover by Uber, the platform has grown even further and changed the mindset of multiple Aussies regarding the functioning of car rentals.
Given the success of the model, the decision to make it available in North America is a prudent move by Uber’s management. On being launched in the two cities, the car-sharing service is likely to augment Uber’s revenue stream significantly.
Shopify is benefiting from growth in e-commerce spending. The Zacks Consensus Estimate for SHOP’s current-year earnings per share has been revised 50% upward over the past 60 days.
Headquartered in Cambridge, MA, Akamai is a global provider of content delivery network and cloud infrastructure services. AKAM’s solutions accelerate and improve the delivery of content over the Internet, enabling faster response to requests for web pages, streaming of video & audio and business applications.
Akamai’s solutions allow customers to operate their web transactions anywhere, anytime, with cost-effective outsourced infrastructure and carry out predictable, scalable and secure e-business at low cost. The Zacks Consensus Estimate for AKAM’s current-year earnings per share has been revised 5.5% upward over the past 60 days.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Uber (UBER) Announces Expansion of Its Car-Sharing Service
Uber Technologies (UBER - Free Report) announced expansion plans of to its car-sharing service at Go-Get event, which was held in London on Jun 8. The ride-hailing company intends to launch the above service in the cities of Boston and Toronto.
The service allows people to borrow vehicles from private car owners for an agreed number of hours or days. Uber’s car-sharing service is currently available in Australia. The service was launched in 2022, post-acquisition of the peer-to-peer car-sharing network Car Next Door.
Car Next Door was founded in Australia in 2013. The objective was to do away with the “one person, one car” mentality apart from reducing the negative effects like air pollution. The car-sharing service, apart from generating revenues for car owners, makes it easy for any car to be turned into a shared car. Following its takeover, Car Next Door came to be known as Uber Carshare.
Ever since its inception in 2013, more than 1.1 million trips have been booked with Car Next Door. Following its takeover by Uber, the platform has grown even further and changed the mindset of multiple Aussies regarding the functioning of car rentals.
Given the success of the model, the decision to make it available in North America is a prudent move by Uber’s management. On being launched in the two cities, the car-sharing service is likely to augment Uber’s revenue stream significantly.
Zacks Rank & Key Picks
UBER currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same industry are Shopify (SHOP - Free Report) and Akamai Technologies (AKAM - Free Report) . Each stock is currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shopify is benefiting from growth in e-commerce spending. The Zacks Consensus Estimate for SHOP’s current-year earnings per share has been revised 50% upward over the past 60 days.
Headquartered in Cambridge, MA, Akamai is a global provider of content delivery network and cloud infrastructure services. AKAM’s solutions accelerate and improve the delivery of content over the Internet, enabling faster response to requests for web pages, streaming of video & audio and business applications.
Akamai’s solutions allow customers to operate their web transactions anywhere, anytime, with cost-effective outsourced infrastructure and carry out predictable, scalable and secure e-business at low cost. The Zacks Consensus Estimate for AKAM’s current-year earnings per share has been revised 5.5% upward over the past 60 days.