![]() ![]() That said, despite the optimism, we think DoorDash stock is considerably overvalued at its current market price of $208 per share. Moreover, the company also posted stronger than expected revenues over Q2 2021 with sales rising 83% year-over-year to about $1.2 billion, despite the relaxation of some Covid-19 guidelines over the quarter, giving investors some confidence that demand could hold up reasonably well even post Covid. Firstly, the surge in Covid-19 cases in the U.S., caused by the highly infectious Delta variant of the virus, will likely delay return to office plans and this could also bode well for stay-at-home stocks such as DoorDash. The recent rally was driven by a couple of factors. The stock is also up by about 50% year-to-date. DoorDash Stock Looks Highly Overvalued At $208ĭoorDash stock (NYSE: DASH) has rallied by almost 10% over the last month, significantly outperforming the S&P 500 which declined about 1% over the same period. Want upside from growing digitization post-Covid-19 but don’t want to pay a big premium for tech stocks? Check out our theme on Value Tech Stocks ![]() A change of 7.7% or more over twenty-one trading days has a 38% event probability, which has occurred 79 times out of 210 in the last year.DoorDash stock rose 7.7% over the last twenty-one trading days (about one month), compared to the broader market (S&P500) which rose by 6.9%.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 Risefor 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. DoorDash stock (NYSE: DASH) has gained about 4% over the last week, outperforming the S&P 500 which remained roughly flat over the same period. ![]()
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