RBC Capital Markets Internet Analyst Brad Erickson joins Asking for a Trend to discuss the state of rideshares and lay out his case for his Buy rating on both Uber (UBER) and Lyft (LYFT).

Erickson explains that Uber was "consistently" performing better than Lyft up until nine months ago, when Lyft started to take market share. He notes that Lyft was keeping up on both price and pickup times. Once the data started to reflect this, RBC upgraded the rideshare company from Neutral to Buy.

"Nine months later, you look at their performance. There's been fits and starts. But generally speaking, we do think we're on that trajectory and we continue to see it. That's why we upgraded the stock. And expectations are super, super low. So it's like, you know, I don't need them to like throw a football over a mountain to get this thing to work. I just need them to execute a little bit better," he adds.

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This post was written by Melanie Riehl