$DASH DoorDash Inc Deep Dive and 2024 Outlook

Strong metrics, good growth and a terrific outlook means the stock is poised to move higher

DoorDash, DASH 0.00%↑ founded in 2013, is a technology company that connects consumers with their favorite local businesses in over 25 countries. It has grown to become a leading food delivery service, with a 70% increase in gross order volume in 2021. The company has expanded beyond restaurant food delivery to include grocery and alcohol delivery, contributing to its growth.

DoorDash's revenue increased by 40% year-over-year to $2.0 billion, driven by growth in Marketplace Gross Order Volume (GOV) and the addition of Wolt, a Helsinki-based food delivery brand. The company's total orders increased by 23% year-over-year to 574 million, and Marketplace GOV increased by 22% year-over-year.

DoorDash has been recognized as one of Fortune's Future 50 Companies, indicating robust growth and market potential. The company's strategy includes expanding into new verticals, services, and geographies to drive long-term growth. Analysts expect DoorDash to continue growing, with order volume projected between $48 and $50 billion, up from $42 billion in 2021.