DoorDash price target raised to $215 from $175 at RBC Capital

RBC Capital analyst Brad Erickson raised the firm’s price target on DoorDash (DASH) to $215 from $175 and keeps an Outperform rating on the shares after hosting a meeting with its investor relations team. The company’s mindfulness of establishing a balance of growth vs. profitability with EBITDA is likely in the guidance range, which gives the firm higher confidence in DoorDash’s growth trend and the stock’s multiple, the analyst tells investors in a research note. The company’s commentary on sales hiring also bodes well for new supply leading to predictable incremental demand, RBC adds.