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Zipcar Inc. (Nasdaq: ZIP) shares continued to rise Friday thanks to a study that found high parking costs in major cities, an analyst said Friday.
Shares in the Cambridge-based car-sharing firm were up 2 percent Friday afternoon, to about $22. That has followed a 4 percent jump in the stock on Thursday, when media reports surfaced about the parking cost report from Colliers International.
“I think recent press reports about the high cost of parking in major cities have attracted additional investor attention to the stock,” said Jason Helfstein, an analyst with Oppenheimer & Co. Inc.
In addition, the report indicated that the cost of parking internationally is even higher than in the U.S., Helfstein said — including in cities such as London, where Zipcar has been expanding its presence. The report found that Boston parking rates are the third priciest in North America.
The rise in the Zipcar stock on Thursday and Friday came as the overall market turned downward. The Nasdaq Composite Index was down .9 percent just before 2 p.m. on Friday.
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