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DoorDash (DASH) Introduces SafeChat+ for Enhanced Safety
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DoorDash (DASH - Free Report) has taken a significant step towards enhancing the safety and positive experience of its users with the recent introduction of SafeChat+.
In an ongoing commitment to user well-being, DASH has harnessed the power of AI to proactively address and prevent verbal abuse or harassment within in-app conversations between consumers and Dashers.
SafeChat+ reviews over 1,400 messages per minute in multiple languages, including English, French, Spanish, Portuguese, and Mandarin, without compromising user privacy.
By swiftly identifying inappropriate language, SafeChat+ allows Dashers to cancel orders or automatically conclude chats to prevent escalation.
DoorDash's dedication to safety extends beyond SafeChat+, as the platform has introduced several other features in the past year, including Real-Time Safety Alerts, SafeDash Check-In, Location Sharing, Porch Light Reminders, and simplified safety reporting within the app.
DoorDash shares have returned 31.9% in the year-to-date period compared with the Zacks Computer & Technology sector’s rise of 8.6%. The uptick can be attributed to DASH's unwavering commitment to fostering a secure and favorable environment for Dashers, customers, and merchants.
DoorDash's success is further underscored by robust total orders, which have surged by 23% year over year to reach $574 million in fourth-quarter 2023. Marketplace Gross Order Value (GOV) witnessed a significant uptick, up 22% year over year to $17.6 billion.
Expanding its footprint, DoorDash has welcomed new retail partners such as Camping World, Golf Galaxy, JD Sports, Finish Line and The Vitamin Shoppe. These expansions have broadened DoorDash's marketplace to include more than 100K non-restaurant stores, offering consumers on-demand delivery for a diverse range of products that cater to active and wellness lifestyles.
In February, DoorDash strengthened its position by collaborating with Pet Supplies Plus, enabling the on-demand delivery of pet essentials from 720 locations, providing same-day convenience for pet parents and offering DashPass members $0 delivery fees on all Pet Supplies Plus orders.
Expanding its commitment globally, DoorDash Canada launched the Made by Women platform, designed to support women chefs and restaurateurs through grants, marketing, education and financial resources. The initiative, starting with fifteen $10,000 grants in partnership with Monday Girl, aims to address the underrepresentation of female-owned restaurants.
DoorDash’s strong portfolio and partner base are contributing to its growth prospects continuously, thereby driving top-line growth.
For the first quarter of 2024, DoorDash anticipates Marketplace GOV in the range of $18.5-$18.9 billion.
The Zacks Consensus Estimate for first-quarter 2024 revenues is pegged at $2.45 billion, indicating 20.49% year-over-year growth.
Image: Bigstock
DoorDash (DASH) Introduces SafeChat+ for Enhanced Safety
DoorDash (DASH - Free Report) has taken a significant step towards enhancing the safety and positive experience of its users with the recent introduction of SafeChat+.
In an ongoing commitment to user well-being, DASH has harnessed the power of AI to proactively address and prevent verbal abuse or harassment within in-app conversations between consumers and Dashers.
SafeChat+ reviews over 1,400 messages per minute in multiple languages, including English, French, Spanish, Portuguese, and Mandarin, without compromising user privacy.
By swiftly identifying inappropriate language, SafeChat+ allows Dashers to cancel orders or automatically conclude chats to prevent escalation.
DoorDash's dedication to safety extends beyond SafeChat+, as the platform has introduced several other features in the past year, including Real-Time Safety Alerts, SafeDash Check-In, Location Sharing, Porch Light Reminders, and simplified safety reporting within the app.
DoorDash, Inc. Price and Consensus
DoorDash, Inc. price-consensus-chart | DoorDash, Inc. Quote
Robust Portfolio Aids Prospects
DoorDash shares have returned 31.9% in the year-to-date period compared with the Zacks Computer & Technology sector’s rise of 8.6%. The uptick can be attributed to DASH's unwavering commitment to fostering a secure and favorable environment for Dashers, customers, and merchants.
DoorDash's success is further underscored by robust total orders, which have surged by 23% year over year to reach $574 million in fourth-quarter 2023. Marketplace Gross Order Value (GOV) witnessed a significant uptick, up 22% year over year to $17.6 billion.
Expanding its footprint, DoorDash has welcomed new retail partners such as Camping World, Golf Galaxy, JD Sports, Finish Line and The Vitamin Shoppe. These expansions have broadened DoorDash's marketplace to include more than 100K non-restaurant stores, offering consumers on-demand delivery for a diverse range of products that cater to active and wellness lifestyles.
In February, DoorDash strengthened its position by collaborating with Pet Supplies Plus, enabling the on-demand delivery of pet essentials from 720 locations, providing same-day convenience for pet parents and offering DashPass members $0 delivery fees on all Pet Supplies Plus orders.
Expanding its commitment globally, DoorDash Canada launched the Made by Women platform, designed to support women chefs and restaurateurs through grants, marketing, education and financial resources. The initiative, starting with fifteen $10,000 grants in partnership with Monday Girl, aims to address the underrepresentation of female-owned restaurants.
DoorDash’s strong portfolio and partner base are contributing to its growth prospects continuously, thereby driving top-line growth.
For the first quarter of 2024, DoorDash anticipates Marketplace GOV in the range of $18.5-$18.9 billion.
The Zacks Consensus Estimate for first-quarter 2024 revenues is pegged at $2.45 billion, indicating 20.49% year-over-year growth.
Zacks Rank & Stocks to Consider
DoorDash currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader sector are Bill Holdings (BILL - Free Report) , Bentley Systems (BSY - Free Report) and Cadence Design Systems (CDNS - Free Report) , each sporting Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Bill Holdings shares have declined 18.6% in the year-to-date period. BILL’s long-term earnings growth rate is currently projected at 23.64%.
Bentley Systems shares have declined 6.3% in the year-to-date period. BSY's long-term earnings growth rate is currently projected at 12%.
Cadence Design Systems shares have gained 14.3% in the year-to-date period. CDNS’ long-term earnings growth rate is currently projected at 17.07%.