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Domino’s Pizza is Yahoo Finance Plus’ investment idea of the day

Yahoo Finance’s Jared Blikre reports details on Yahoo Finance’s Investment idea of the day.

Video Transcript

KRISTIN MYERS: All right, Jared, let's move from a meme stock to a-- well, this is not a meme stock. And it's the Yahoo Finance Plus Investment Idea of the Day. And it's on Domino's Pizza. What's behind that bullish call?

JARED BLIKRE: This is a bullish call by Argus Research based on some of the latest trends. And they're delving into e-commerce. And no, this is not a meme stock. You know why? $476 plus. We've got to get that down to $4.76. Not saying I want that to happen, but yeah, whatever.

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All right, so let's take a look at what Argus Research is writing about Domino's. And by the way, you can see they're up 24% over the last three months. That's a very nice trend that we see. And they're raising their price target to $540 and increasing some of their estimates. So they go over the results from their last earnings report. And then they say Domino's has been spending aggressively on its e-commerce platform. And online sales account for more than 70% of US revenue.

Argus expects the company's carry-out and delivery business to continue to benefit from the popularity of online ordering. They're raising their 2021 estimate. And they're saying that the stock appears favorably valued at 31 and 1/2 times our revised 2022, when we expect a full year of recovery in the restaurant industry, that EPS estimate. And it's below the industry average of 32. Guys.

KRISTIN MYERS: All right, thanks so much, Jared. We'll see you at the half hour for a look at those energy markets.