DoorDash price target lowered to $285 from $310 at Bernstein

Bernstein lowered the firm’s price target on DoorDash (DASH) to $285 from $310 and keeps an Outperform rating on the shares. The firm says there was a lot “thrown” at investors this quarter, but the core takeaways are that DoorDash’s business looks remarkably healthy right now; and the company is entering an investment cycle in 2026 and possibly beyond. The stock is down -10% at time of writing, and Bernstein wouldn’t be surprised to see further weakness. Its EBITDA estimates come down by a similar magnitude, and buy-side numbers were ahead of the firm on core profitability and Deliveroo synergies. But Bernstein thinks this is also the type of company/stock you want to buy on pullbacks, and this print did not change its view that DoorDash is a “secular winner” with strong long-term earnings power potential.