DoorDash price target raised to $190 from $160 at JMP Securities

JMP Securities analyst Andrew Boone raised the firm’s price target on DoorDash (DASH) to $190 from $160 and keeps an Outperform rating on the shares. DoorDash reported a slight beat and raise earnings report as demand remains persistent while DoorDash continues to make progress on unit economics and fixed cost leverage, the analyst tells investors in a research note. With DoorDash slowly growing advertising, scaling its international and grocery businesses, and still optimizing its DashMart business, JMP believes the business continues to underearn, which should support profitable growth over the next several years.