DoorDash price target raised to $300 from $230 at Needham

Needham analyst Bernie McTernan raised the firm’s price target on DoorDash (DASH) to $300 from $230 and keeps a Buy rating on the shares after its Q2 earnings beat and Gross Order Value – GOV – acceleration. The main push back on DoorDash shares is the elevated valuation, though the firm believes that its price is warranted given their accelerating growth, potential upside for estimates and glide path for margin expansion, the analyst tells investors in a research note.