UBER - DoorDash's Global Ambitions Are Outpacing Rivals: Analyst | Benzinga
JMP Securities analyst Andrew Boone reiterated DoorDash Inc (NYSE: DASH) with a Market Outperform and a $100 price target.
After analyzing 3P app data and search interest across Wolt's 25 international markets, Boone believes DoorDash is taking share overseas, helping to drive scale and improve DoorDash's international margins.
To be clear, Uber Technologies, Inc (NYSE: UBER) Uber Eats appears more established in global markets than DoorDash, while Bolt and Grab are also taking share, but with improving DAU/MAU metrics, DoorDash's international business appears to be creating healthy cohorts that can build over time, which was crucial for DoorDash's thesis at the time of the acquisition.
DoorDash can continue to compound Gross Order Value (GOV) at elevated rates, given its culture of experimentation, execution, and long-term perspective.
To that end, he defines ...