DoorDash, Inc. (DASH): “The Multiple’s Too High,” Says Jim Cramer

We recently published 11 Fresh Stocks Jim Cramer Talked About While Discussing AI-Led “American Renaissance”. DoorDash, Inc. (NASDAQ:DASH) is one of the stocks Jim Cramer recently discussed.

DoorDash, Inc. (NASDAQ:DASH) is a well-known food delivery company. The shares are up by a strong 38% year-to-date as the firm has benefited from strong earnings performance and analyst sentiment. DoorDash, Inc. (NASDAQ:DASH)’s fourth quarter earnings saw the firm beat analyst revenue estimates. However, the firm’s first quarter revenue of $3.03 billion, which missed analyst estimates of $3.09 billion, led to its shares falling by 13.8%. Cramer believes that the stock might be overvalued:

“DoorDash is the multiple’s too high. Come on. . .”

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

Previously, the CNBC TV host discussed DoorDash, Inc. (NASDAQ:DASH)’s advertising potential:

“DoorDash, up as usual 2%… Unlike most of the people around here, the older people I talk to, I pass no judgment about these people. You know why? Because they are buying very good companies… These are top-notch businesses that might have gigantic earnings power someday. You want to get in front of DoorDash, which may turn out to be an advertising powerhouse.”

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