9/6/2023 0 Comments Dash stock price todayThe stock trades at a whopping 15x forward revenue, almost like a software-type business that has thicker margins and more operating leverage. 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
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