DoorDash Inc. (DASH) PT Raised to $215 at RBC Capital, Reflecting Targets Boost

RBC Capital analyst Brad Erickson raised the price target on DoorDash Inc. (NASDAQ: DASH) to $215.00 (from $175.00) while maintaining a Outperform rating.

The analyst said: "We hosted the DASH IR team for a very well-attended virtual fireside. Key takeaways/observations included: 1) The company's mindfulness of establishing a balance of growth vs. profitability with EBITDA likely in the guidance range which gives us higher confidence in growth & the multiple. 2) Sales hiring bodes well for new supply leading to predictable incremental demand. 3) Wolt commentary on scale & profitability was constructive. 4) Customer demo diversity may be healthier than expected. 5) Ad growth looks measured/healthy ie sustainable. 6) Early feedback on LYFT-sourced Dashpass sign-ups looks good. 7) Openminded to further M&A. Net/net, we come away with higher confidence in forward estimates and raise our target to $215 from $175 based on 34x EV/'25E EBITDA, noting this implies 25x on Street's '26 estimates. With strong indications of continued investing across both core as well as grocery, retail & international but also with a clear focus on profit expansion, we reiterate our Outperform on this high-quality name not yet in any index."

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