DoorDash Stock Set to Pop After Upgrade

Core Viewpoint - DoorDash Inc's shares are experiencing a positive trend following an upgrade from BTIG, which has raised its rating from "neutral" to "buy" with a price target of $155, citing strong third-quarter growth despite overall consumer weakness [1]. Group 1: Stock Performance - DoorDash stock is expected to open around $138.30, just below its previous closing record of $141.10, and has seen a significant increase of 34.1% in 2024 [2]. - The stock received a boost after the Federal Reserve cut interest rates for the first time in four years, although it faced resistance around the $135 level [2]. Group 2: Analyst Sentiment - A majority of analysts remain bullish on DoorDash, with 14 out of 36 brokerages still recommending a "hold," indicating potential for further upgrades [3]. - The sentiment among short-term options traders is currently leaning towards puts, as indicated by the equity's Schaeffer's put/call open interest ratio of 0.93, which is higher than 89% of readings from the past year [3]. Group 3: Options Market - The current Schaeffer's Volatility Index (SVI) for DoorDash is at 32%, placing it in the low 9th percentile of its annual range, suggesting that options are attractively priced for speculation [4].