DoorDash Inc. (DASH) PT Raised to $330 at Cantor Fitzgerald
Cantor Fitzgerald analyst Deepak Mathivanan raised the price target on DoorDash Inc. (NASDAQ: DASH) to $330.00 (from $260.00) while maintaining a Overweight rating.
The analyst commented, "DASH delivered another strong quarter with GOV accelerating by 3pts to 23% (3-pts above high-end of guide), driven by strong trends in the core US marketplace business. The company’s 3Q guide points to stable growth at the high-end. In terms of operating KPIs, membership growth accelerated, order frequency continues to go up, and new customer cohorts are increasing y/y in 2Q. The company is also seeing sustained efficiency gains, driving steady margin expansion. As such, the 2Q print reinforces the bull case on DASH as the leading delivery platform with best-in-class execution. We have revised our FY26E EBITDA higher by 3%. Valuation is now in the premium territory at 34x FY26E EBITDA, but we find comfort in the strong outlook for NT top-line growth and potential upside revisions to out-year profitability metrics."