Benchmark analyst Mark Zgutowicz lowered the firm’s price target on DoorDash to $150 from $165 and keeps a Buy rating on the shares. The firm was “not surprised” with the selloff last night given questions concerning near-term growth and incremental investment tied to Q2 guidance. However, after following up with the company, the firm says 2024 “may not mirror past beat and raise years,” but it does not expect a meaningful growth deceleration, the analyst tells investors.
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