JMP Securities recommends buying DoorDash shares on recent share weakness

JMP Securities analyst Andrew Boone continues to recommend buying shares of DoorDash, especially on the recent weakness, as the firm believes concerns around slowing top-line growth and new vertical investments are overdone, the analyst tells investors in a research note. The firm says there is a path to S&P 500 inclusion and greater share repurchases as free cash flow generation has already inflected and can continue to grow and that last mile delivery is a massive total addressable market with multiple adjacencies, while DoorDash is investing across multiple fronts today as it continues to focus on growth. JMP made no change to its Outperform rating and $140 price target.