Doordash stock hits all-time high at 278.27 USD

Doordash Inc’s stock has reached an all-time high, hitting a price of 278.27 USD. With a substantial market capitalization of $115.86 billion and an impressive revenue growth of ~24% in the last twelve months, the company demonstrates strong financial health, earning a "GREAT" rating from InvestingPro’s comprehensive analysis. This milestone reflects a significant upward trend, as the company’s stock has experienced a remarkable 95.07% increase over the past year. The surge in value underscores Doordash’s robust market performance and investor confidence, driven by its expanding delivery services and strategic business initiatives. As the company continues to capitalize on the growing demand for food delivery, its stock’s impressive ascent highlights its strong position in the competitive market landscape. According to InvestingPro analysis, the stock appears to be trading above its Fair Value, with analysts setting price targets ranging from $205 to $360. Discover 14 additional ProTips and comprehensive analysis in the Pro Research Report, available exclusively to InvestingPro subscribers.

In other recent news, DoorDash has completed its acquisition of Deliveroo following court approval, marking a significant expansion for the company. This acquisition was finalized on October 2, after being agreed upon by the boards of both companies and recommended by Deliveroo’s Independent Committee. Additionally, DoorDash has launched Dot, an autonomous delivery robot designed for local commerce, capable of navigating bike lanes, roads, and sidewalks at speeds up to 20 mph. This initiative aligns with the company’s efforts to enhance delivery efficiency for local businesses.

Further expanding its service offerings, DoorDash introduced a feature called "Going Out," which integrates reservations, in-store rewards, and exclusive offers to improve the in-person dining experience. This feature aims to help consumers discover local restaurants and earn rewards while assisting restaurants in attracting diners. DoorDash also announced a partnership with Kroger, adding nearly 2,700 stores to its platform, enhancing its grocery delivery capabilities. Lastly, DoorDash launched DashMart Fulfillment Services with CVS Pharmacy and Party City as initial partners, allowing retailers to extend their delivery reach without managing logistics.

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