#Door dash stock projection drivers

Recently, DoorDash teamed up with Shake Shack to create ‘Eat Cute’, a dating site for lovers of Shake Shack’s Buffalo Chicken Sandwich.

Erinn McCully, director of Modern Market’s off-premise sales, says DoorDash’s promotions have helped sales grow threefold compared to other partners. Some DoorDash stock news spotlights the company’s moves to meet fierce competition in the on-demand delivery market. Shares opened at $182 and closed at $189.51 – well above the IPO price of $102.ĭoorDash’s impressive debut was attributed to the pandemic driven rise in on-demand delivery and the company’s high revenues.Īt the time of writing, 18 February, DASH is trading at $105.03.

The DoorDash stock market began with a blast. The on-demand delivery platform kicked off the IPO season on the New York Stock Exchange (NYSE). The company raised $2.4m in seed funding from venture capitalists, including Khosla Ventures, Charles River Ventures and SV Angel.

#Door dash stock projection drivers

What is DoorDash?įounded on 12 January 2013 as Palo Alto Delivery to provide hassle-free food delivery options for restaurants in downtown Palo Alto, California, the company connected drivers and delivery agents with restaurants. It rebranded as DoorDash in June of that year.ĭoorDash connects small businesses through its on-demand delivery platform across 7,000 cities in the US, Canada, Australia, Japan and Germany. But will DoorDash cross its IPO value anytime soon? Let’s look at the DoorDash share price forecast for 2022 and beyond. Its recent venture into the European market through the acquisition of Wolt could help DASH’s profitability. Will plans for international expansion and partnership promotions boost DoorDash? However, DASH is on a downward trend from its pandemic-fuelled order-driven highs.

DoorDash (DASH) stock forecast: can it recover from recent lows? – Photo: ShutterstockĪ better-than-expected fourth-quarter 2021 report helped DoorDash (DASH) jump nearly 32% in a day.