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DoorDash (DASH) Expands Beauty Retail Footprint With New Deal
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DoorDash (DASH - Free Report) is expanding its footprint in the beauty retail sector through an expanded partnership with the nation’s largest beauty retailer, Ulta Beauty.
The partnership offers on-demand delivery from more than 1,350 Ulta Beauty stores across all 50 states, providing consumers with access to a diverse selection of more than 25,000 products, including cosmetics, fragrances, skincare, haircare and wellness items.
DASH’s Expanding Portfolio Aids Prospect
The latest move bodes well with DASH’s commitment to diversify its offerings and strengthen its presence in the retail and grocery sector.
In March, DASH teamed up with Sally Beauty and MAC Cosmetics while enhancing its partnership with Sephora, providing consumers with on-demand access to a wide range of beauty essentials delivered within an hour, with a $0 delivery fee and offering DashPass benefits for seamless shopping experiences.
DASH’s expanding clientele, which includes the likes of Lowe’s Companies (LOW - Free Report) and Alphabet (GOOGL - Free Report) , has been a major growth driver.
In April, DASH announced its partnership with Lowe’s Companies, bringing on-demand delivery from more than 1,700 stores nationwide, marking its first venture into the home improvement category and enriching its vast selection offerings for consumers.
In March, DASH collaborated with Alphabet’s drone delivery technology arm, Wing, to launch a drone delivery partnership in the United States, starting in Cristianburg, VA. The deal offers select local customers the option to have Wendy’s meals delivered via drone through the DoorDash marketplace.
The partnerships are expected to bolster DoorDash’s total orders, which increased 21% year over year to $620 million in first-quarter 2024. Marketplace Gross Order Value (GOV) experienced a 21% increase year over year, reaching $19.2 billion.
DoorDash’s strong portfolio and expanding partner base are contributing to its growth prospects continuously, thereby driving top-line growth.
For second-quarter 2024, DoorDash anticipates Marketplace GOV in the range of $19-$19.4 billion.
The Zacks Consensus Estimate for second-quarter 2024 revenues is pegged at $2.54 billion, indicating 18.89% year-over-year growth.
The Zacks Consensus Estimate for earnings is pegged at a loss of 9 cents per share, indicating 79.55% year-over-year growth.
Zacks Rank & Stocks to Consider
Currently, DoorDash carries a Zacks Rank #3 (Hold).
The company’s shares have increased 15.2% year to date compared with the Zacks Computer & Technology sector’s rise of 15.3%.
Image: Bigstock
DoorDash (DASH) Expands Beauty Retail Footprint With New Deal
DoorDash (DASH - Free Report) is expanding its footprint in the beauty retail sector through an expanded partnership with the nation’s largest beauty retailer, Ulta Beauty.
The partnership offers on-demand delivery from more than 1,350 Ulta Beauty stores across all 50 states, providing consumers with access to a diverse selection of more than 25,000 products, including cosmetics, fragrances, skincare, haircare and wellness items.
DASH’s Expanding Portfolio Aids Prospect
The latest move bodes well with DASH’s commitment to diversify its offerings and strengthen its presence in the retail and grocery sector.
In March, DASH teamed up with Sally Beauty and MAC Cosmetics while enhancing its partnership with Sephora, providing consumers with on-demand access to a wide range of beauty essentials delivered within an hour, with a $0 delivery fee and offering DashPass benefits for seamless shopping experiences.
DoorDash, Inc. Price and Consensus
DoorDash, Inc. price-consensus-chart | DoorDash, Inc. Quote
DASH’s expanding clientele, which includes the likes of Lowe’s Companies (LOW - Free Report) and Alphabet (GOOGL - Free Report) , has been a major growth driver.
In April, DASH announced its partnership with Lowe’s Companies, bringing on-demand delivery from more than 1,700 stores nationwide, marking its first venture into the home improvement category and enriching its vast selection offerings for consumers.
In March, DASH collaborated with Alphabet’s drone delivery technology arm, Wing, to launch a drone delivery partnership in the United States, starting in Cristianburg, VA. The deal offers select local customers the option to have Wendy’s meals delivered via drone through the DoorDash marketplace.
The partnerships are expected to bolster DoorDash’s total orders, which increased 21% year over year to $620 million in first-quarter 2024. Marketplace Gross Order Value (GOV) experienced a 21% increase year over year, reaching $19.2 billion.
DoorDash’s strong portfolio and expanding partner base are contributing to its growth prospects continuously, thereby driving top-line growth.
For second-quarter 2024, DoorDash anticipates Marketplace GOV in the range of $19-$19.4 billion.
The Zacks Consensus Estimate for second-quarter 2024 revenues is pegged at $2.54 billion, indicating 18.89% year-over-year growth.
The Zacks Consensus Estimate for earnings is pegged at a loss of 9 cents per share, indicating 79.55% year-over-year growth.
Zacks Rank & Stocks to Consider
Currently, DoorDash carries a Zacks Rank #3 (Hold).
The company’s shares have increased 15.2% year to date compared with the Zacks Computer & Technology sector’s rise of 15.3%.
A better-ranked stock in the broader technology sector is Arista Networks (ANET - Free Report) , which currently sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Arista Networks have gained 35.6% in the year-to-date period. The long-term earnings growth rate for ANET is 15.68%.