A change of 7.7% or more over ten trading days has a 28% event probability, which has occurred 62 times out of 221 in the last year.
DoorDash stock rose 7.7 % over the last ten trading days (two weeks), compared to the broader market (S&P500) which rose by 2.1%.A change of 4% or more over five trading days has a 32% event probability, which has occurred 73 times out of 226 in the last year.DoorDash stock rose 4% over a five-day trading period ending, compared to the broader market (S&P500) which declined -0.2% over the same period.See our analysis DoorDash Stock Chance of Rise for more details.įive Days: DASH 4%, vs. So is DASH stock likely to rise further in the coming weeks and months or is a correction looking more likely? Per the Trefis machine learning engine which analyzes historical stock price movements, DASH stock only has a 46% chance of a rise over the next month (21 trading days). is poised to cool off with Covid-19 restrictions being eased. The deal could help to speed up DoorDash’s international expansion and drive revenue growth as broader delivery volumes growth in the U.S. The gains are driven largely by DoorDash’s announcement that it would be acquiring international food delivery platform Wolt – which has operations in 23 countries – in an $8.1 billion all-stock deal. The stock also remains up by about 8% over the last month, compared to the S&P 500, which was up 7% over the same period. Gaining 8% Over The Last Month, What’s Next For DoorDash Stock?ĭoorDash stock (NYSE: DASH) has gained about 4% over the last week, outperforming the S&P 500 which remained roughly flat over the same period. Looking for other stocks that stand to benefit from the extension of the at-home trend? Check out our theme of Work From Home stocksīelow you’ll find our previous coverage of DoorDash stock where you can track our view over time. See our dashboard on DoorDash Revenuefor an overview of DoorDash’s business model and how its revenues are likely to trend.
We value DoorDash stock at about $130 per share, roughly 35% ahead of the current market price. See our analysis DoorDash Valuation: Expensive Or Cheap? for more details on DoorDash’s valuation. That being said, we still have some concerns regarding the company’s unit economics and lack of profitability, despite the big surge in demand through the pandemic. Moreover, the company’s international expansion plans are also gaining traction following its acquisition of fast-growing European food delivery company Wolt, which enables it to enter 22 new markets. DoorDash’s well-received DashPass subscription program, which has over 9 million subscribers, could also help stabilize its business. We got a sense of this in 2021 when DoorDash posted strong revenue growth despite restaurants re-opening. We also think there is room for growth for the company even post the pandemic. We could see a partial impact of this in DoorDash’s Q4 results, which are likely due in February. This is likely to have caused more people to order in rather than head to restaurants, helping demand for DoorDash’s services. surged through the holidays and into early January, peaking at over a million cases per day. There are multiple factors that could drive the stock higher.
So is DoorDash stock a buy at current levels of around $96 per share? While we had largely been bearish on DoorDash stock ever since it went public in late 2020, we think the stock is worth a look for investors seeking to play the delivery market following the sizable recent correction. There are also concerns about the impact of surging inflation on the company’s earnings, given the rise in labor, gasoline, and food prices. DoorDash, which traded at almost 20x revenues at its peak and has yet to turn profitable, has been particularly badly impacted by this shift. The sell-off comes as investors rotate out of richly valued stocks and pandemic winners, into value stock as the Federal Reserve signals multiple rate hikes through 2022. In fact, the stock now trades below its IPO price of $102 per share. DoorDash stock (NYSE: DASH) has declined by about 34% thus far in 2022, and remains down by over 60% from highs seen last November 2021.
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