Top-rated Roth MKM analyst Rohit Kulkarni initiated coverage of online food delivery company DoorDash (NYSE: DASH) with a Hold rating and a price target of $72, implying an upside potential of 21.5% at current levels.
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Kulkarni commented, “DASH is a market share leader that’s growing faster and demonstrating higher profitability vs. Uber. Our proprietary Consumer and Driver Surveys (20+ charts in report) reinforce… sustainable growth vectors via subscriptions and post-pandemic TAM expansion. However, risk/rewards feels balanced, given DASH’s premium growth-adjusted valuation vs. peers, potential softness in N-T consumer spend, and the limited likelihood of incremental margin expansion.”
Analysts are cautiously optimistic about DASH stock with a Moderate Buy consensus rating based on 11 Buys, 10 Holds and one Sell.
