Last Updated: 19 Sep 2024
Executive Summary
DoorDash, Inc. (DASH) is a leading online food delivery platform that has experienced strong growth in recent years. The company has a market capitalization of $54.52 billion and is expected to continue to grow as the demand for online food delivery increases.
Company Overview
DoorDash was founded in 2013 and is headquartered in San Francisco, California. The company operates a logistics platform that connects merchants, consumers, and delivery drivers. DoorDash has a network of over 1 million delivery drivers and partners with over 390,000 restaurants.
Fundamental Analysis
DoorDash's revenue has grown rapidly in recent years, from $1.9 billion in 2019 to $9.6 billion in 2022. The company's gross profit margin has also improved, from 30.7% in 2019 to 32.1% in 2022. However, DoorDash has not yet achieved profitability, with a net loss of $1.29 billion in 2022.
DoorDash's financial performance is expected to improve in the coming years. The company is expected to generate revenue of $12.6 billion in 2023 and $16.1 billion in 2024. DoorDash is also expected to achieve profitability in 2024, with a net income of $400 million.
Technical Analysis
DoorDash's stock price has been volatile in recent months, but it has generally trended upwards. The stock is currently trading at $132.48, which is above its 50-day and 200-day moving averages. The stock's relative strength index (RSI) is 58.4, which indicates that it is not overbought or oversold.
Short Term Outlook
DoorDash's stock price is expected to continue to trend upwards in the short term. The company's strong financial performance and positive analyst recommendations are likely to support the stock price.
Long Term Outlook
DoorDash is expected to continue to grow in the long term as the demand for online food delivery increases. The company's strong brand recognition and network of delivery drivers are likely to help it maintain its market leadership position.
Analyst Recommendations
Analysts are generally positive on DoorDash's stock. The average analyst rating is "buy," with a price target of $144. Eight analysts have a "strong buy" rating, 16 have a "buy" rating, 16 have a "hold" rating, and none have a "sell" or "strong sell" rating.
