Shares of Domino's Pizza, Inc. DPZ hit a new 52-week high of $115.24 during the trading session on Jun 26, on the back of its newest digital ordering platform – ordering through text. Further, the company’s strong fundamentals – including consistent earnings growth – possibly caught investors’ attention.
On Jun 15, Domino's added to its immensely successful digital platform by introducing ordering with an emoji by text. Once customers have opted for and provided their phone number in their Pizza Profile at the company’s website, they can simply text a pizza emoji to DPIZZA and place their saved Easy Order. In fact, share price has grown 3.7% since then.
At a time when pizza chains are increasingly embracing digital technology to boost profits, Domino's Pizza’s efforts to update its ordering platform is an attempt to gain market share and industry profits. For Domino's Pizza mobile and online ordering accounts for 40% of the U.S. sales.
Further, with the recent addition, analysts believe Domino’s will augment spending, improve customer experience and lower serving expenses. In fact, investors’ optimism surrounding the stock resulted in its price soaring this year, with a year-to-date return of 22.6%.
Domino's Pizza currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the hotel industry are Zoe's Kitchen, Inc. ZOES, Dave & Buster's Entertainment, Inc. PLAY and Restaurant Brands International Inc. QSR. All these stocks sport a Zacks Rank #1 (Strong Buy).
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