8/28/2023 0 Comments Door dash stock projectionAs the Federal Reserve signaled more rate hikes throughout most of 2022, investors bought out expensive stocks and went into value stocks. DASH Stock Is a Buy After the Steep CorrectionĪlthough the tech sector has felt the brunt of the recent market drop, DASH stock is one of the hardest hit. These bullish ratings reiterate that the stock may have bottomed out, so the time is ripe for purchasing DASH. DASH stock closed at $82.22 on Wednesday. Morgan Stanley has a stock price target of $100, and Citi has an aggressive estimate of $155. DoorDash is on the up and up, but it’s crucial to focus on sustainability and maintaining a steady cash flow. Ronald Josey, the analyst, pointed out that DASH has a consistent 20% contribution margin of orders delivered. Their timeline for more expansion includes quick commerce services and their Drive Platform. The firm initiated coverage of the stock with a ‘Buy’ rating, saying it’s likely that DoorDash will continue to grow by becoming more diversified in the food delivery market and expanding internationally. Nevertheless, it sees an opportunity in the long-term “growth story” potential for DASH.ĭoorDash secured another bullish rating from Citi in early April. The investment bank is waiting for a better entry point. Morgan Stanley says investors should be cautious of the high valuation of DASH concerning their FY2023 revenue estimate. DASH also owns leading dynamics in the industry, like an opt-in incentive scheme that enables it to continue to drive this business sector. This can be partially attributed to the DashPass program that has created a large high-frequency DashPass member base. The company initiated coverage on DASH stock with an Equal-weight rating.īrian Nowak, a renowned analyst, has released optimistic predictions for DASH in the food delivery market. On Monday, the company received a strong vote of confidence from Morgan Stanley. DoorDash (NYSE: DASH), a food delivery service, has been making waves in the food industry for some time now.
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