DoorDash (DASH) Achieved Revenue Growth Exceeding 20% in the Trailing 12 Months

Optimist Fund, an investment management company, released its fourth quarter investor letter. A copy of the letter can be downloaded here. 2024 proved to be another impressive year for the fund, with a return of around 67%. Since the fund’s inception, it has achieved approximately 15% annualized returns, net of fees, and the firm is nearing its 3-year anniversary. The firm believes that the portfolio has significant upside over the next 5 years. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.

Optimist Fund highlighted stocks like DoorDash, Inc. (NASDAQ:DASH) in its Q4 2024 investor letter. DoorDash, Inc. (NASDAQ:DASH) is a commerce platform that connects merchants, consumers, and independent contractors s. The one-month return of DoorDash, Inc. (NASDAQ:DASH) was 12.00%, and its shares gained 64.47% of their value over the last 52 weeks. On February 4, 2024, DoorDash, Inc. (NASDAQ:DASH) stock closed at $194.57 per share with a market capitalization of $80.824 billion.

Optimist Fund stated the following regarding DoorDash, Inc. (NASDAQ:DASH) in its Q4 2024 investor letter:

“DoorDash, Inc. (NASDAQ:DASH) – DoorDash continues to demonstrate an exceptional balance of growth and profitability. Over the trailing twelve months, the company achieved revenue growth exceeding 20%, with profits expanding at more than double that pace. We believe the market continues to underestimate DoorDash’s significant future growth potential and its ability to materially improve margins.”

A shot of a delivery driver zooming down a busy street, symbolizing the company’s quick and efficient delivery services.

DoorDash, Inc. (NASDAQ:DASH) is not on our list of 30 Most Popular Stocks Among Hedge Funds.  As per our database, 73 hedge fund portfolios held DoorDash, Inc. (NASDAQ:DASH) at the end of the third quarter which was 67 in the previous quarter. While we acknowledge the potential of DoorDash, Inc. (NASDAQ:DASH) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

In another article we discussed DoorDash, Inc. (NASDAQ:DASH) and shared the list of tech stocks that billionaire Chen Tianqiao dumped and stocks that he is betting on. In addition, please check out our hedge fund investor letters Q3 2024 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.