BTIG and Argus lowered DoorDash price targets to $225 and $190 respectively while maintaining Buy ratings amid macro concerns.
Analysts at BTIG reduced DoorDash’s price target to $225 from $280 on June 12, citing macroeconomic pressures on its Rideshare and Delivery segments. The firm retained a Buy rating, noting stable site traffic and healthy app user trends despite investor concerns over U.S. order growth sustainability.
Argus also adjusted its price target downward to $190 from $210 on June 11 but kept a Buy rating. The firm highlighted DoorDash’s strong balance sheet and growth potential in grocery delivery, expected to outpace meal delivery by more than double.
DoorDash operates a food delivery and logistics platform across the U.S., Canada, and Australia. Multiples for the sector have hit multi-year lows, reflecting broader market sentiment.