DoorDash price target raised to $160 from $130 at JMP Securities

JMP Securities raised the firm’s price target on DoorDash to $160 from $130 and keeps an Outperform rating on the shares. DoorDash is making significant investments in new verticals while core profitability is still healthy, and JMP projects U.S. contribution margins will reach $4.5B in 2025, the analyst tells investors in a research note. In addition, the firm believes $1.8B of EBITDA in 2024 appears achievable while 2025 EBITDA could reach $2.6B if U.S. restaurant GOV sustains teens growth.