Yahoo Finance DoorDash (DASH) Expands Grocery & Alcohol Delivery With ALDI
DoorDash DASH is making bold strides in online grocery shopping, forming new partnerships. It recently expanded collaboration with ALDI, enabling alcohol delivery from an impressive 1,200 locations.
The expansion provides nearly 80% of DoorDash customers with age-verified access to alcohol delivery. DoorDash is also introducing a diverse array of new grocery partners, further enriching its online retail offerings for consumers.
DoorDash 's decision to offer alcohol can boost grocery sales by up to 30%, and by including alcohol in convenience orders, sales go up by an impressive 50%. They have also extended their partnership with ALDI, so now customers can easily order alcoholic drinks with their regular groceries, all while keeping strict safety measures in mind.
DoorDash expanded its partner base with the Eataly, El Super and Fiesta Mart, expanding the reach of on-demand grocery delivery across various regions. These additions, accessible through DashPass, DoorDash's membership program, enhance convenience with nil delivery fees for eligible orders over $35 and complement the recent app redesign, featuring a dedicated grocery tab.
Expanding Partner Base Aids Growth
DoorDash’s shares have returned 62.2% compared with the Zacks Computer and Technology sector’s increase of 37.3% year to date. The outperformance can be attributed to the company’s expansion of its global footprint and strong partner base.
DoorDash, Inc. Price and Consensus
DoorDash, Inc. price-consensus-chart | DoorDash, Inc. Quote
In August, DoorDash Canada and Staples Canada joined forces for a nationwide partnership, providing consumers with on-demand access to a vast selection of back-to-school and workplace essentials.
For the third quarter of 2023, DoorDash estimates revenues between $15.8 billion and $16.2 billion.
Looking ahead to fiscal 2023, the company has set revenue expectations between $64.2 billion and $65.2 billion. The Zacks Consensus Estimate is pegged at $2.09 billion, suggesting a rise of 22.83% year over year.
Zacks Rank & Stocks to Consider
Currently, DoorDash has a Zacks Rank #3 (Hold).
Dell Technologies DELL, NVIDIA NVDA and Splunk SPLK are a couple of better-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
DELL, NVDA and SPLK shares have returned 73.8%, 197.8% and 38.5%, respectively, year to date.
Long-term earnings growth rates for Dell Technologies, NVIDIA and SPLUNK are pegged at 12%,13.5% and 24.71%, respectively.
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