Citi raised the firm’s price target on DoorDash (DASH) to $211 from $155 and keeps a Buy rating on the shares. With the company continuing to improve quality, expand selection, and deliver marketplace efficiencies, order growth across cohorts can continue as adoption of newer verticals like grocery ramp, the analyst tells investors in a research note. The firm says DoorDash’s user growth and order frequency reached all-time highs in Q3 as newer verticals are contributing. It believes this can continue into 2025 as the service “is increasingly habitual as it adds more offerings and verticals.” The company is “executing extremely well with multiple levers for continued top-line and bottom-line growth,” contends Citi.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
