NewTradingView.com – Investing and Stock News
Investing and Stock News
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Investing

This food delivery stock could nearly triple from here

by September 2, 2022
written by September 2, 2022

DoorDash Inc (NYSE: DASH) down 60% for the year is ripe for very steep returns moving forward, says Andrew Boone. He’s a Managing Director at JMP Securities.

DoorDash could be a $150 stock

Boone recommends that you buy DoorDash shares as they have upside to $150. His price objective translates to a massive 160% gain and a full recovery to the price at which the stock started 2022.

He dubs the pure-play food delivery company a better pick than rival Uber Technologies Inc. Explaining why on CNBC’s “Power Lunch”, Boone said:

I tend to lean more on DoorDash as it’s more innovative of the two. DoorDash Drive and some of their capital programmes are very unique and create additional optionality in terms of revenue drivers for the business.

DoorDash is a “domestic leader” in online food delivery with a 56% share in the United States.

Why else is he bullish on DoorDash?

Other reasons why he is so incredibly bullish on the California-based company include a clear path to profitability.

Last month, DoorDash said total orders in its fiscal second quarter were up 23% on a year-over-year basis. Boone added:

One of the things we think is a permanent trend coming out of COVID is that the consumer has been habituated to food delivery. So, DoorDash is well positioned for post-COVID world and we think there’s tremendous amount of upside here.

DoorDash forecasts $200 million to $500 million in adjusted EBITDA this year. In August, it also partnered with Meta Platforms to test delivery of items listed on the Facebook Marketplace.

The post This food delivery stock could nearly triple from here appeared first on Invezz.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Broadcom stock: does it have more upside after a strong Q3?
next post
The Fed’s Tough Year

You may also like

US court dismisses claim Coinbase sold unregistered securities

February 2, 2023

Ray Dalio now sees cash as ‘relatively attractive’

February 2, 2023

Peter Schiff: “Disinflation is transitory”

February 2, 2023

3 main takeaways from Chair Powell

February 2, 2023

Analyst recommends ‘caution’ as Meta stock pops 20%...

February 1, 2023

Fed just ruled out rate cuts this year:...

February 1, 2023

Jim Cramer likes only one of these two...

February 1, 2023

Analyst: buy Vodafone stock despite a slight hit...

February 1, 2023

Peloton stock shot up 20% on Wednesday: find...

February 1, 2023

IOTA promotes sustainable energy consumption with EnergieKnip

February 1, 2023
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Popular Posts

  • 1

    My Trigger to Enter $VAPR

  • 2

    Multi-Millionaire Trader Explains Why You Should Start Trading With A Small Account {VIDEO}

  • 3

    Scaling Up Tips From A 24-Year Old Millionaire Trader {VIDEO}

  • 4

    Pay Attention to These Stocks

  • 5

    New ‘Hunger Winter’ Looms as Europe Prepares to Shiver

Recent Posts

  • US court dismisses claim Coinbase sold unregistered securities

    February 2, 2023
  • Ray Dalio now sees cash as ‘relatively attractive’

    February 2, 2023
  • Should the Fed Stop Tightening?

    February 2, 2023
  • Peter Schiff: “Disinflation is transitory”

    February 2, 2023
  • The FOMC: To Pause or Not to Pause?

    February 2, 2023

Categories

  • Economy (604)
  • Editor's Pick (232)
  • Investing (1,605)
  • Stock (9)
  • About Us
  • Email Whitelisting
  • Terms and Conditions
  • Privacy Policy
  • Contacts

Disclaimer: NewTradingView.com, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


Copyright © 2023 NewTradingView.com All Rights Reserved.


Back To Top
NewTradingView.com – Investing and Stock News
  • Investing
  • Stock
  • Economy
  • Editor’s Pick