Shares of DoorDash Inc (DASH  ) rose in early trading on Thursday, after the company reported strong orders and revenues for the second quarter.

The results came amid an exciting earnings season. Here are some key analyst takeaways from the earnings release.

Needham On DoorDash

Analyst Bernie McTernan maintained a Buy rating, while raising the price target from $84 to $105.

DoorDash's beat-and-raise quarter highlights that the company "is operating at a high level against a large TAM (total addressable market)," McTernan said in a note.

"Following record frequency levels in 2Q, we think guidance for the remainder of the year for GOV (gross order value) looks achievable given historical GOV seasonality and the stable trends in the core US restaurant market," he added.

Oppenheimer On DoorDash

Analyst Jason Helfstein reiterated an Outperform rating, while lifting the price target from $85 to $110.

DoorDash reported its fourth consecutive quarter of margin expansion, Helfstein said. "DASH continues to execute, with 2Q orders accelerating slightly q/q and no sign of a consumer slowdown," he added.

"Order frequency remains at all-time highs, with stable AOV (average order value) and better marketing efficiency, driving EBITDA 36% above guidance," the analyst further wrote.

Truist Securities On DoorDash

Analyst Youssef Squali reaffirmed a Buy rating, while raising the price target from $105 to $125.

The company reported stronger quarterly results and outlook, driven by "an acceleration in order growth and frequency, and record contribution profit," Squali wrote in a note. "This results from an expanded offering, maniacal focus on service and unit economics, and low market penetration," he added.

"The drive to continuously improve dashers' efficiency at scale is helping it build a sophisticated logistics system for last mile delivery across 27 markets, following a proven US restaurant delivery playbook," the analyst further said.

RBA Capital Partners On DoorDash

Analyst Brad Erickson maintained a Sector Perform rating, while lifting the price target from $75 to $88.

"DASH's Q2 print was positive relative to somewhat elevated expectations coming in," Erickson said.

"Orders accelerated including stable core order growth, core contribution profit continues growing, new verticals & geo's are losing less money and management's consistent messaging around investing in growth remains," he added.

DASH Price Action: Shares of DoorDash were up 3.3% to $88.86 at the time of publication Thursday.