HomeMost PopularInvesting The Rising Phoenix: DoorDash (DASH) ... The Rising Phoenix: DoorDash (DASH) The Rising Phoenix: DoorDash (DASH) By Ron Finklestien January 10, 2024 Current Market Analysis Actionable Trade Ideas always free Table of Contents hide 1 Expanding Partnerships Propel Revenue Growth 2 The “New Economy” Catapult 3 Rising Against the Odds 4 Technical View: A Promising Prospect 5 Final Verdict </noscript><iframe class="lazy" width="560" height="315" src="" data-src="https://www.youtube.com/embed/I1_faaXR4Us" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen> Zacks Rank #1 (Strong Buy) stock DoorDash (DASH) is the leader in food delivery service industry. The DoorDash app enables customers to connect with local restaurants. Through its platform, users can browse menus, view reviews from previous customers, place orders, and have food delivered directly to their doorsteps within minutes. DoorDash partners with a wide range of restaurants, offering customers a diverse selection of cuisines and dining options. The company employs a network of independent contractors, known as Dashers, who pick up restaurant orders and deliver them to the customer efficiently. DoorDash has become a popular solution for those seeking convenient and reliable food delivery services. Expanding Partnerships Propel Revenue Growth DoorDash consistently invests in expanding its partner base to offer consumers more options for its on-demand delivery platform. For example, its latest partnerships include non-restaurant options such as grocers like Sprouts Farmers Market (SFM) and Aldi, Dick’s Sporting Goods (DKS), and discount retailers like Big Lots (BIG) and Grocery Outlet (GO). Through its expanded partnership with Aldi, customers can also order alcohol – a significant potential revenue stream. With these new partnerships and the pipeline of continuous additions, DoorDash’s total orders and revenue will likely continue to expand drastically. Image Source: Zacks Investment Research The “New Economy” Catapult The COVID-19 pandemic has significantly impacted consumer behavior, creating an environment where on-demand services like DoorDash can experience growth. Initially, with lockdowns and social distancing measures in place, more consumers turned to food delivery as an alternative to dining out. Though COVID-19 may be behind us, the emergence of the “new economy” emphasizes flexible employment. This benefits DoorDash in two ways. First, people working from home may use food delivery services more than if they were in the office. Second, DoorDash may be able to recruit more “Dashers” who are looking for flexible work to its network to fulfill deliveries. Rising Against the Odds DASH missed Wall Street expectations in its first eight quarters as a public company. However, the company is turning things around and has beat expectations in three of the past four quarters including a healthy 57.78% surprise last quarter. Though analysts are becoming more bullish on the stock, it appears that the company’s turnaround story is moving even faster in the right direction. Image Source: Zacks Investment Research Technical View: A Promising Prospect DASH shares are retreating to their 10-week moving average for the first time since its November breakout. The first pullback to the 10-week moving average after a significant breakout tends to provide traders with a high reward-to-risk zone to trade against. In addition, this week, shares are breaking out from a classic weekly bull flag. Image Source: TradingView Final Verdict DoorDash stands out as a leader in the food delivery service industry. The company’s strategic expansion beyond traditional partnerships will spur revenue growth. Furthermore, the “new economy” will benefit the company for years to come. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Swing Trading Ideas and Market Commentary Need some new swing ideas? Get free weekly swing ideas and market commentary from Jonathan Bernstein here: Swing Trading. TagsInvestingStocks Explore More Embracing the Quantum Revolution: Traversing... Coffee Prices Post Moderate Gains on Global... Apple Stock (AAPL) Gains as iPhone Shipments... Oversold Conditions For Adobe (ADBE) Weekly In-Depth Market Analysis and Actionable Trade Ideas Get institutional-level analysis and trade ideas to take your trading to the next level, sign up for free and become apart of the community. Read Now Related Articles Investing 3 Unique Financial Stocks Investors Can Buy Now May 30, 2024 Investing Gitlab (GTLB) to Report Q1 Earnings: What’s in the Cards? May 30, 2024 Investing DocuSign (DOCU) Appreciates 23% in Six Months: Here’s How May 30, 2024 Investing Broadridge (BR) Announces the Acquisition of AdvisorTarget May 30, 2024
