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DoorDash (DASH) Introduces Feature Drinks With DoubleDash
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DoorDash (DASH - Free Report) recently introduced new feature Drinks with DoubleDash, which will help customers to order food from one place and drinks from another place in the same vicinity in a single order. A single order of food and drinks from two different places will cost no additional delivery fee for the minimum order range.
The newly launched feature will allow customers to order food from a restaurant and scroll to the bottom of the menu where one can browse alcohol options available from a nearby liquor convenience or grocery store.
While other major local delivery logistics platforms like Uber Technologies (UBER - Free Report) and large Internet-based companies such as Amazon (AMZN - Free Report) are already providing alcohol to its customers, DoorDash’s recent feature is expected to attract new users to its platform and drive user growth.
This is expected to drive its total orders and marketplace gross order volume (GOV) and boost e-commerce on its platform.
DoorDash Driving Top Line With Boost in Total Orders
DASH is reeling under the impacts of inflation. Rising input costs due to the raging inflation are creating major headwinds. In the second quarter of 2022, DASH incurred a loss of 72 cents per share, wider than the Zacks Consensus Estimate of a loss of 39 cents. It reported a loss of 30 cents in the year-ago period.
Rising expenses lowered DoorDash’s ability to maintain profitability in the past quarters. The trend is expected to persist in the coming quarters. DASH’s continued net losses affected its share price.
Shares of DoorDash have slumped 64.4% year to date compared with the Zacks Internet - Services industry’s decline of 32.5%.
DoorDash’s on-demand delivery service is facing extensive competition from Uber Technologies and Amazon.
Uber’s delivery business is witnessing a boom with rising online order volumes. UBER is expanding its delivery operations through various acquisitions, such as Postmates. The Postmates buyout is expanding UBER’s base in Los Angeles and the American Southwest. It is also helping the company win a strong market share.
Amazon is one of the world’s largest e-commerce companies with diversified product offerings. Product selection, a superior user experience, bargains and customer feedback helped AMZN build a loyal and growing customer base in the fast-growing e-commerce market. Growth in the e-commerce industry during the pandemic, with consumers increasingly buying things online, proved favorable for AMZN, which bodes well for the long haul.
DASH currently carries a Zacks Rank #3 (Hold). To win a good share in a highly fragmented e-commerce market, DoorDash is consistently investing in acquisitions and expanding its partner base to fortify its footprint. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
The recent acquisition of Wolt will help DoorDash fast-track its product development, grow its international base across 26 countries, and bring a greater focus to its markets outside the United States. The acquisition of hospitality technology company Bbot will likely aid DASH’s platform with its products and technologies. This will offer merchants more solutions for their in-store and online channels, including in-store digital ordering and payments.
DoorDash recently partnered with Big Lots (BIG - Free Report) to provide customers in the United States with on-demand delivery of its bargains, treasures and home essentials.
DoorDash, as part of the partnership, will deliver more than 36,000 products to customers of Big Lots, including home goods, seasonal décor, bedding, snacks and pantry staples, cleaning products, outdoor essentials and pet care supplies via the DoorDash app and website.
DoorDash partnered with Albertson Companies, a food and drug retailer, to provide express grocery delivery services within 30 minutes across 20 major cities in the United States. DASH also partnered with Grocery Outlet to serve more than 1.5 million shoppers each week and provide supplies at 40-70% below retail price. The partnership will boost DASH’s total orders and marketplace GOV, aiding its top-line growth.
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DoorDash (DASH) Introduces Feature Drinks With DoubleDash
DoorDash (DASH - Free Report) recently introduced new feature Drinks with DoubleDash, which will help customers to order food from one place and drinks from another place in the same vicinity in a single order. A single order of food and drinks from two different places will cost no additional delivery fee for the minimum order range.
The newly launched feature will allow customers to order food from a restaurant and scroll to the bottom of the menu where one can browse alcohol options available from a nearby liquor convenience or grocery store.
While other major local delivery logistics platforms like Uber Technologies (UBER - Free Report) and large Internet-based companies such as Amazon (AMZN - Free Report) are already providing alcohol to its customers, DoorDash’s recent feature is expected to attract new users to its platform and drive user growth.
This is expected to drive its total orders and marketplace gross order volume (GOV) and boost e-commerce on its platform.
DoorDash, Inc. Price and Consensus
DoorDash, Inc. price-consensus-chart | DoorDash, Inc. Quote
DoorDash Driving Top Line With Boost in Total Orders
DASH is reeling under the impacts of inflation. Rising input costs due to the raging inflation are creating major headwinds. In the second quarter of 2022, DASH incurred a loss of 72 cents per share, wider than the Zacks Consensus Estimate of a loss of 39 cents. It reported a loss of 30 cents in the year-ago period.
Rising expenses lowered DoorDash’s ability to maintain profitability in the past quarters. The trend is expected to persist in the coming quarters. DASH’s continued net losses affected its share price.
Shares of DoorDash have slumped 64.4% year to date compared with the Zacks Internet - Services industry’s decline of 32.5%.
DoorDash’s on-demand delivery service is facing extensive competition from Uber Technologies and Amazon.
Uber’s delivery business is witnessing a boom with rising online order volumes. UBER is expanding its delivery operations through various acquisitions, such as Postmates. The Postmates buyout is expanding UBER’s base in Los Angeles and the American Southwest. It is also helping the company win a strong market share.
Amazon is one of the world’s largest e-commerce companies with diversified product offerings. Product selection, a superior user experience, bargains and customer feedback helped AMZN build a loyal and growing customer base in the fast-growing e-commerce market. Growth in the e-commerce industry during the pandemic, with consumers increasingly buying things online, proved favorable for AMZN, which bodes well for the long haul.
DASH currently carries a Zacks Rank #3 (Hold). To win a good share in a highly fragmented e-commerce market, DoorDash is consistently investing in acquisitions and expanding its partner base to fortify its footprint. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
The recent acquisition of Wolt will help DoorDash fast-track its product development, grow its international base across 26 countries, and bring a greater focus to its markets outside the United States. The acquisition of hospitality technology company Bbot will likely aid DASH’s platform with its products and technologies. This will offer merchants more solutions for their in-store and online channels, including in-store digital ordering and payments.
DoorDash recently partnered with Big Lots (BIG - Free Report) to provide customers in the United States with on-demand delivery of its bargains, treasures and home essentials.
DoorDash, as part of the partnership, will deliver more than 36,000 products to customers of Big Lots, including home goods, seasonal décor, bedding, snacks and pantry staples, cleaning products, outdoor essentials and pet care supplies via the DoorDash app and website.
DoorDash partnered with Albertson Companies, a food and drug retailer, to provide express grocery delivery services within 30 minutes across 20 major cities in the United States. DASH also partnered with Grocery Outlet to serve more than 1.5 million shoppers each week and provide supplies at 40-70% below retail price. The partnership will boost DASH’s total orders and marketplace GOV, aiding its top-line growth.