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Doordash Inc (NASDAQ:DASH)’s stock surged to a new 52-week high, reaching 248.75 USD, marking a significant milestone for the company. The food delivery giant, now commanding a market capitalization of $103.26 billion, has demonstrated robust revenue growth of 23.35% over the last twelve months. This impressive performance reflects a 136.75% increase over the past year, underscoring the company’s robust growth trajectory. The stock’s upward momentum highlights investor confidence in Doordash’s business model and market position, as it continues to capitalize on the growing demand for food delivery services. According to InvestingPro analysis, the stock appears to be trading above its Fair Value, with 14+ additional key insights available to subscribers. The achievement of this 52-week high signifies a strong recovery and expansion in the company’s market valuation, setting a positive tone for its future prospects.
In other recent news, several analysts have revised their price targets for DoorDash Inc., reflecting various expectations for the company’s growth. Raymond (NSE:RYMD) James has maintained its Strong Buy rating and increased its price target to $275, citing the potential growth of DoorDash’s advertising revenue, which is projected to reach $3 billion by 2027. Bernstein has also raised its price target to $265, highlighting anticipated strong fundamentals and growth in Gross Order Value, expecting a year-over-year growth of 21% for Q2 and 20% for Q3. Benchmark has set its price target at $260, maintaining a Buy rating and expecting DoorDash’s gross order value and adjusted EBITDA to be at the high end of guidance for the upcoming earnings report. Loop Capital has increased its price target significantly to $305, viewing DoorDash as a key player in local commerce, especially in the restaurant sector. Additionally, Citizens JMP has raised its price target to $250, expressing confidence in DoorDash’s potential for growth and margin expansion in its core U.S. restaurant business. These developments indicate a generally positive outlook among analysts for DoorDash’s future performance.
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