15 High Growth Companies Hedge Funds Are Buying

9. DoorDash, Inc. (NASDAQ:DASH)

Number of Hedge Fund Holders: 88

Average 5-Year Revenue Growth: 78.26%

DoorDash, Inc. (NASDAQ:DASH) stands 9th on our list of the top high growth stocks on the radar of hedge funds. The company offers platforms like DoorDash and Wolt marketplaces, helping businesses with services like order fulfillment, marketing, payment processing, and customer support.

Benchmark analysts maintained a Buy rating on DoorDash, Inc. (NASDAQ:DASH) on April 30, but trimmed the price target from $245 to $220. Ahead of DoorDash’s Q1 earnings report, analysts are expecting the company to hit the high end of its earnings and order volume guidance, given the growth in its restaurant, grocery, and retail sectors. The company has secured a solid foothold in the market, with 21 of the top 25 US consumer goods brands advertising on its platform. The Deliveroo acquisition could also open doors for more international expansion.

On April 10, DoorDash, Inc. (NASDAQ:DASH) announced a partnership with Coco Robotics to expand robot deliveries to more US cities, starting with Los Angeles and Chicago. This follows a successful trial in Helsinki with Wolt, DoorDash’s international arm. The goal is to make deliveries more efficient and eco-friendly using Coco’s fleet of emissions-free robots. This move is part of DoorDash’s broader strategy to improve last-mile logistics, combining robots, human drivers, and drones to meet growing demand and reduce costs.

According to Insider Monkey’s fourth quarter database, 88 hedge funds were bullish on DoorDash, Inc. (NASDAQ:DASH), compared to 73 funds in the prior quarter. Andreas Halvorsen’s Viking Global was a prominent stakeholder of the company, with nearly 5 million shares worth $830.2 million.