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DoorDash Started With a Buy Rating at Benchmark

Benchmark analysts initiated coverage on DoorDash (NASDAQ:DASH) with a Buy rating, setting a price target of $165. The analysts’ recommendation stems from DoorDash’s expanding supremacy in the restaurant delivery sector and the network benefits derived from its vast user and driver base, which also support expansion into new markets such as grocery, convenience, and general retail.
Over the next year and beyond, the analysts anticipate the revenue and margin growth potential from these new areas to become increasingly evident, surpassing current and consensus forecasts. The $165 valuation is based on a discounted cash flow analysis, incorporating conservative assumptions about growth in gross order value and take rates in both the near and distant future.

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