Oppenheimer Hikes DoorDash (DASH) Price Target on Earnings Growth Prospects

DoorDash Inc. (NASDAQ:DASH) is one of the 12 best consumer goods stocks billionaires are quietly buying. On June 30, Oppenheimer reiterated an Outperform rating on the stock. The analyst also raised the price target to $280 from $220. The price hike underscores a positive outlook for the company’s future performance.

In addition, the research firm reiterated its bullish stance on raising the company’s estimates for earnings. It expects DoorDash to deliver earnings in the range of $0.07 and $1.93 in 2025, which should improve to between $0.17 and $2.94 the following year.

Oppenheimer also raised DoorDash EBITDA by 2% and 4%, with total orders expected to improve by 1%. The better-than-expected earnings estimates come as DoorDash projects strong order volume growth, with the company also expected to deliver a ramp-up in advertising revenue.

DoorDash Inc. (NASDAQ:DASH) is a technology company that connects consumers with local businesses, primarily for food delivery and other on-demand services. It serves as a platform that facilitates delivery and pickup orders, enabling merchants to reach new customers and allowing consumers to access a variety of goods from local stores.

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Disclosure: None. This article is originally published at Insider Monkey.