Jim Cramer’s Latest Game Plan: 20 Stocks to Watch

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13. DoorDash, Inc. (NASDAQ:DASH)

Number of Hedge Fund Holders: 67

Cramer predicts that DoorDash, Inc. (NASDAQ:DASH) will post a strong third-quarter earnings report on October 30.

“… Doordash reports. Yeah, I think it’ll be very strong and should shed some more light on consumers. Then all sorts of traders will start to extrapolate from the results to the Fed’s next move. Time-honored ‘dog bites man’ stuff. Don’t let it get to you.”

DoorDash (NASDAQ:DASH) operates a global commerce platform that connects merchants, consumers, and independent contractors, offering services such as order fulfillment, payment processing, and customer support through its DoorDash Marketplace and Wolt Marketplace, along with various membership products and digital solutions for merchants. The company has also expanded its services into grocery and retail markets, positioning itself for substantial future growth.

With over 100,000 retailers on its platform, the company features well-known brands such as Victoria’s Secret, JD Sports, and Camping World. A significant partnership announced in May with Ulta Beauty, the largest beauty retailer in the United States, aims to further diversify offerings and enhance customer engagement.

On October 24, Mizuho analyst James Lee raised the price target on DoorDash (NASDAQ:DASH) to $173 from $162 and kept an Outperform rating. According to the analyst, demand for gig economy services remains strong amidst easing inflation and favorable unit economics.

Industry insights suggest that leading companies in ride-sharing and food delivery are expected to capture additional market share and benefit from operational efficiencies. With a focus on improving marketing efforts, DoorDash aims to build volume and drive growth in the latter half of the year, making it a top pick for the firm.

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