DoorDash price target raised to $137 from $133 at Needham

Needham analyst Bernie McTernan raised the firm’s price target on DoorDash to $137 from $133 and keeps a Buy rating on the shares after its Q4 results and outlook. The company’s guidance is setting an achievable bar which DoorDash should be able to clear, with the firm’s bookings estimates implying a significant deceleration off the strong results in FY23, the analyst tells investors in a research note. DashPass adoption remains a core driver of value for the company, Needham added.