Now's a good time to gain exposure to DoorDash , according to Morgan Stanley.
Investors were concerned by DoorDash's larger-than-expected loss per share, as well as whether the company can achieve its forward guidance.
DASH 1M mountain DoorDash shares over the last month Despite the pullback, Morgan Stanley is confident in the company's growth runway.
"DASH's micro-level execution (growth and profitability) within its highly-competitive verticals is what drives us to Overweight," Nowak wrote in a Thursday note.
DoorDash is also expected to reach GAAP profitability in 2024, per Nowak.
Persons:
Morgan Stanley, Brian Nowak, Nowak
Organizations:
DASH's
Locations:
U.S