DoorDash price target raised to $305 from $235 at Loop Capital

Loop Capital raised the firm’s price target on DoorDash (DASH) to $305 from $235 and keeps a Buy rating on the shares. The stock represents a core holding for long-term growth investors as it is positioned to win the lion’s share of a massive long-term opportunity to empower local commerce, the analyst tells investors in a research note. While restaurants are the natural starting point with the highest frequency use case that generate more than $1T in annual sales in the U.S., its enterprise offering continues to move upstream into restaurant operations, and the SevenRooms acquisition will provide a new SaaS layer to provide CRM and enhanced marketing solutions, the firm added.