William Blair analyst Ralph Schackart has maintained their bullish stance on DASH stock, giving a Buy rating today.
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Ralph Schackart has given his Buy rating due to a combination of factors including DoorDash’s impressive operational performance and growth metrics. The company experienced a notable reacceleration in total orders, driven by enhancements in their product and operations, as well as strong performance in the U.S. restaurant sector. Additionally, DoorDash’s international marketplace growth has surpassed that of the U.S., with significant increases in Wolt+ memberships and improved unit economics internationally.
Furthermore, the sustained adoption of DashPass has contributed to an increase in order frequency, reaching a record high in membership. DoorDash’s ability to retain high consumer engagement in the U.S. is evident through the growth of new cohorts and improved retention in mature cohorts. The company’s quarterly results exceeded expectations, with marketplace gross order value and revenue surpassing forecasts, supported by improved logistics efficiencies and a reduction in credits and refunds. These factors collectively underpin Schackart’s Buy rating for DoorDash.
In another report released today, KeyBanc also maintained a Buy rating on the stock with a $325.00 price target.