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Deutsche Bank recommends buying DoorDash amid rising institutional interest By Investing.com

Investing.com  |  Editor Ambhini Aishwarya

Published Nov 17, 2023 01:23AM ET

DoorDash (NASDAQ:DASH), the on-demand delivery platform operating in the United States, Canada, and Australia, has attracted a Buy recommendation from Deutsche Bank. The endorsement comes as the company experiences a notable increase in institutional interest.

On Thursday, Deutsche Bank initiated coverage on DoorDash, projecting robust prospects for the tech firm. The bank’s analysts set their sights on an annual revenue estimate of $8.168 billion for DoorDash, which marks a slight 0.22% increase. Despite anticipating a non-GAAP EPS of -$2.44, the bank’s positive outlook aligns with broader institutional sentiment.

The technology company, known for connecting local and national businesses with consumers seeking delivery services, has…

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