Doordash stock price forecast short interest in Doordash has declined

Short interest in Doordash has declined to its lowest in a year, reinforcing the bullish Doordash stock price forecast sentiment in market outlook reports from top Wall Street analysts. This DoorDash partnership comes as Yelp continues to push beyond restaurant reviews and diversify into local services. Despite a flurry of fresh initiatives and attention-grabbing food rankings, momentum in the stock has cooled. Yelp’s 1-year total shareholder return is slightly negative, and its share price sits at $31.81, roughly flat in recent months. The lack of a clear rebound may reflect lingering concerns about growth rates and persistent competition, but with a relatively modest valuation, some investors see opportunity brewing beneath the surface. While DoorDash is up over 50% this year and over 400% since the start of 2023, numerous catalysts could continue to push the delivery giant to higher highs. The newest of this bunch is DoorDash’s all cash acquisitions of UK delivery giants SevenRooms and Deliveroo, which cost $5.1 billion in total. Technical traders eye the 50-day moving average crossing above the 200-day moving average, a bullish signal in Doordash stock price forecast analysis. Such “golden cross” patterns historically precede multi-week rallies in growth stocks.