DoorDash stock up 53% in 6 months, fueled by growth and key partnerships

From Nasdaq: 2024-12-24 11:36:00

DoorDash’s DASH shares have surged 53.4% in the last six months, outperforming competitors like Amazon and Alphabet. The company’s growth is fueled by increased total orders, Marketplace Gross Order Value, and expansion into new verticals like grocery delivery. DoorDash is expected to see strong growth in Q4 with Marketplace GOV projected at $20.6-$21 billion.

DoorDash has expanded its reach through key partnerships with Walmart Canada, Wegmans Food Markets, Lyft, and others. Walmart Canada collaboration offers on-demand access to groceries and merchandise. DoorDash’s partnership with Lyft provides benefits on rides and local delivery. The company’s expanding partner base is driving top-line growth and strengthening its position in the market.

Despite DoorDash’s strong performance, its stock is not cheap. However, with a Zacks Rank #2 (Buy) and a Growth Score of A, DoorDash presents a promising investment opportunity. The company’s portfolio and partner base continue to drive growth. DoorDash’s stock may be worth considering for investors looking for growth potential in the delivery and logistics sector.



Read more at Nasdaq: DASH Up 53% in the Past 6 Months: Is the Stock Still a Screaming Buy?