5 Best IPO Stocks to Buy Now

4. DoorDash, Inc. (NYSE: DASH)

IPO Date: December 9, 2020
Number of Hedge Fund Holders: 45

DoorDash, Inc. (NYSE: DASH) is an online food ordering and food delivery company based in San Francisco, U.S. In July, the company collected 57% of U.S. consumers’ delivery sales and is regarded as the largest food delivery company in the U.S. DoorDash, Inc. (NYSE: DASH) ranks fourth on our list of the best IPO stocks to buy now.

DoorDash, Inc. (NYSE: DASH) went public in December 2020 and raised $3.37 billion in its IPO. The stock started trading at $182 per share, climbing as high as $189.51. According to the analysts, the solid IPO of DoorDash, Inc. (NYSE: DASH) was due to the pandemic-fueled increase in demand for online delivery services. In Q2 2021, DoorDash, Inc. (NYSE: DASH) posted revenue of $1.24 billion, presenting an 83.7% year-over-year growth. The stock has soared by 35.02% since the beginning of the year. In August, RBC Capital lifted its price target on DoorDash, Inc. (NYSE: DASH) to $210, with an ‘Outperform’ rating on the shares.

In Q2 2021, DoorDash, Inc. (NYSE: DASH) appeared to be the popular investment as 45 hedge funds have positions in the company, compared with 38 in the previous quarter. The total value of these stakes is approximately $9 billion.