Roth MKM raised the firm’s price target on DoorDash to $124 from $118 but keeps a Neutral rating on the shares. The company reported an impressive beat-and-raise earnings report and the stock rallied 8% on Friday despite the tough macro tape, the analyst tells investors in a research note. DoorDash continues to execute as a market leader with a focus on growing long-term free cash flow, but premium valuation, lower incremental margins in growth areas, and somewhat spotty consumer spend environment keeps the firm on the sideline, Roth MKM added.
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