On September 26, DoorDash, Inc. rose 3.02% in regular trading, trading at $192.92 per share with turnover of $364 million, rebounding sharply from the prior session's 3.3% decline.
The recovery comes amid a wave of bullish analyst activity and strategic developments. Loop Capital recently raised its price target on DoorDash from $225 to $280 while maintaining a Buy rating, marking one of the highest targets on the Street. Scotiabank and Rosenblatt Securities also initiated coverage with Sector Outperform and Buy ratings respectively, setting targets at $275 and $270. The current Wall Street consensus target stands at approximately $262.60, implying significant upside from current levels.
On the business front, DoorDash has accelerated its retail expansion, launching nationwide same-day delivery for Costco across all US warehouses and signing a multiyear exclusive partnership with the NHL. The company also invested $125 million in Wonder and acquired its campus dining business for $300 million. Additionally, a $131.5 million settlement with New York City over delivery worker pay has removed a key litigation overhang.
Within the Restaurants sector, performance was mixed, with Yum up 1.19%, Starbucks up 1.06%, McDonald's up 0.07%, Chipotle Mexican Grill down 1.80%, and Darden Restaurants down 3.90%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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