DASH
Not a big cut, but not nothing
MoffettNathanson shaved its DoorDash price target to $276 from $279 and left the stock at Buy. So no, this isn’t a full-blown analyst breakup letter. It’s more like “you’re still invited to the party, but maybe don’t hog the snack table.”
Why the Street is twitchy
The bigger worry floating around the analyst crowd is fuel subsidy costs for delivery drivers. That kind of support can be great for keeping the marketplace humming, but it also eats into the nice, tidy math investors love to see on gross order value and EBITDA.
And MoffettNathanson isn’t alone here. The article says:
- Wolfe Research cut its target to $195 from $265
- BTIG trimmed its target to $280 from $315 while staying Buy
- Citizens kept a Market Outperform rating with a $250 target
The investor takeaway
DoorDash still has the growth story Wall Street wants: bookings are expected to keep climbing, and AI-powered efficiency is the new favorite phrase in the room. But the market is clearly debating how much of that growth gets converted into actual profit once the company keeps subsidizing the engine that powers the business.
Big picture
This isn’t a thesis change so much as a reminder that even the coolest app on your phone still has to pay the bill when gas prices and delivery economics get messy.