DASH stock rose more than 10% on January 11, 2022, after the company was added to Evercore’s TAP Outperform list.
Evercore upgrades DoorDash, adds to ‘TAP Outperform’ list
Evercore ISI analyst Mark Mahaney upgraded DoorDash to Outperform from In-Line with a $256 price target and also added the stock to the firm’s Tactical Action & Positioning, or TAP, Outperform List. He notes that DoorDash is “dislocated” as the shares are off 40% and now trade at close to a trough multiple. Mahaney also sees DoorDash as a “strong fundamental asset” and a “structural COVID winner” whose platform is beginning to expand “dramatically” via non-food delivery, he tells investors.
Sally Beauty announces partnership with DoorDash
On December 13, 2021, Sally Beauty (SBH) announced a partnership with DoorDash (DASH) to offer products from more than 1,100 stores across the U.S. Sally Beauty will offer free 2-hour delivery on all SallyBeauty.com orders for the entire month of December, the company said in a statement. “We expect the holiday season will be busier than ever as things continue to open up. In-person celebrations and gifting are expected to increase versus the previous year. This is an extremely busy time for consumers, so we thought this was a great way to make the celebratory season less stressful,” said John Goss, Senior Vice President and President of Sally Beauty. “We are listening to our consumers and responding with speed to ensure their shopping needs are met when it matters most.”
DoorDash Introduces Ultra-Fast Grocery Delivery, Providing Busy Consumers with a Reliable and Convenient Way to Restock Instantly
On December 6, 2021, DoorDash (NYSE:DASH) is introducing ultra-fast grocery deliveries in 10-15 minutes beginning with DashMart in New York City. With over 2,000 items, DashMart offers a wide assortment of fresh and frozen grocery staples, snacks, household goods, and local products to fulfill any last-minute shopping needs – whether you forgot an ingredient for tonight’s dinner, or don’t have time to get more eggs and milk midweek. To start, ultra-fast deliveries will be offered from a new DashMart location in Chelsea, with more locations and partners coming over the next few months.
“As the largest and most reliable logistics network in the US, DoorDash is positioned to enter this emerging industry and provide consistent quality, speed and convenience that customers know and trust. Many New Yorkers already turn to DoorDash for their next meal or essentials purchases, which puts us in an exciting place to deliver on the promise of ultra-fast delivery,” said Christopher Payne, President of DoorDash. “Consumers increasingly expect an effortless, enjoyable experience, so while we are starting with DashMarts, our goal is to expand this offering to select grocery and convenience partners.”
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📈 DASH Stock Technical Analysis
The rising large players volume looks sweet, especially when the price of DASH stock has been falling. The short-term trend is negative, as is the long-term trend. DASH is an average performer in the Internet & Direct Marketing Retail industry, it outperforms 65% of 82 stocks in the same industry. DASH is currently trading in the lower part of its 52-week range. The S&P500 Index however is trading in the upper part of its 52-week range, so DASH is lagging the market.
There is support at 132.26 from a horizontal line in the weekly time frame. There is also a support zone ranging from 127.96 to 128.33. This zone is formed by a combination of multiple trend lines in the daily time frame.
There is a resistance zone ranging from 143.65 to 146.27. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames. There is also resistance at 156.05 from a horizontal line in the daily time frame.
The technical rating of DASH is bad and it also does not present a quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first. Click here to sign up for email alerts on when DASH stock consolidates and is a good long entry.