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2 New Stocks to Watch

Morningstar has recently initiated coverage of DoorDash and SoFi.

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Our stock analysts brought two recent IPOs under coverage.

First is DoorDash. Consumers use DoorDash's app to order food for pickup or delivery from restaurants. DoorDash holds the number one position as an online food order aggregator in the U.S., ahead of Uber Eats and Grubhub. DoorDash is in the early stages of trying to attract a larger piece of what we estimate could be $1 trillion worth of goods and services by 2025 to its platform. DoorDash benefits from the network effects between merchants, deliverers, and consumers, plus intangible assets in the form of data. We assign DoorDash a narrow economic moat rating and a fair value estimate of $142 per share.

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