DoorDash price target lowered to $253 from $255 at Stifel

Stifel lowered the firm’s price target on DoorDash (DASH) to $253 from $255 and keeps a Hold rating on the shares. What’s “clear” after Q3 results and Q4 guidance is that the current business remains on track, but margins post-consolidation may face some pressure as the company looks to migrate to a single tech stack and pursues growth initiatives, the analyst tells investors. The firm is keeping a Hold rating “for now” given current valuation, but believes “this is a long-term core holding for many” and would look to get more positive as it gains comfort around the combined businesses, the analyst added.