DoorDash DASH shares are trading higher after Needham initiated coverage on the stock with a Buy rating and $175 price target.
"We expect DASH to leverage its leadership position in restaurant delivery, likely solidified by the pandemic, to become one of the leading, horizontal, on-demand, last-mile fulfillment providers in North America," said Needham analyst Bernie McTernan.
DoorDash Inc provides online food delivery logistics services. The company provides on-demand food delivery services through its website.
The stock was trading 5.25% higher at $161.87 at the time of writing. The stock has a 52-week high of $256.09 and a 52-week low of $121.
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