These Analysts Boost Their Forecasts On DoorDash After Strong Q2 Sales

DoorDash Inc DASH reported better-than-expected sales results for its second quarter.

DoorDash posted sales of $2.13 billion, beating estimates of $2.05 billion. The company posted a loss of Q2 44 cents per share, compared to expectations for a loss of 42 cents per share.

DoorDash said it expects third-quarter marketplace GOV to be between $15.8 billion and $16.2 billion. Full-year marketplace GOV is expected to be in the range of $64.2 billion to $65.2 billion.

DoorDash shares gained 3.9% to $89.37 in pre-market trading.

These analysts made changes to their price targets on DoorDash following earnings announcement.

• Needham raised the price target on DoorDash from $84 to $105. Needham analyst Bernie McTernan maintained a Buy rating.
• Barclays increased the price target on DoorDash from $ $75 to $90. Barclays analyst Ross Sandler maintained an Equal-Weight rating.
• Oppenheimer boosted DoorDash price target from $85 to $110. Oppenheimer analyst Jason Helfstein maintained an Outperform rating.

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