JMP Securities raised the firm’s price target on DoorDash to $130 from $113 and keeps an Outperform rating on the shares ahead of the Q4 earnings report. The firm expects DoorDash to report healthy top-line results and strong profitability, and thinks the Street is underestimating DoorDash’s 2024 profitability as its COVID-era product launches mature, the analyst tells investors in a research note.
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