Domino's Pizza Inc
Stephens & Co. reiterated the Equal-Weight rating on Domino's, maintaining the price forecast of $440.
According to Benzinga Pro, DPZ stock has lost over 6% in the past year. Investors can gain exposure to the stock via AdvisorShares Restaurant ETF
On Wednesday, Domino's announced a strategic partnership with DoorDash, Inc.
This collaboration will allow Domino's to tap into the DoorDash Marketplace, reaching new customers while continuing to deliver orders through its own drivers.
A pilot program is currently underway, with a nationwide U.S. launch scheduled for May 2025 and an expansion to Canada later this year.
The partnership will enable Domino's to connect with customers in suburban and rural areas, boosting sales and driving incremental business.
Domino's will benefit from DoorDash's expanded scale, extending its reach to millions of customers and providing a new avenue for growth.
Through the integration, customers can order Domino's through the DoorDash app, enjoying seamless GPS tracking of their deliveries by Domino's drivers.
Joe Jordan, Domino's Chief Operating Officer, emphasized the potential of the partnership, highlighting the $1 billion opportunity they see in the aggregator marketplace.
"Tapping into incremental customers, particularly in suburban and rural markets, is a meaningful opportunity for Domino's, as our brand continues to open stores nationwide," Jordan said.
DoorDash users will also have access to Domino's orders through DashPass, DoorDash's subscription program, offering zero delivery fees on qualifying orders. Domino's Rewards will remain exclusive to its own e-commerce platforms.
Price Action: DPZ shares are trading higher by 0.10% to $465.93 at last check Wednesday.
