DoorDash price target lowered to $60 from $82 at DA Davidson

DA Davidson analyst Tom White lowered the firm’s price target on DoorDash to $60 from $82 and keeps a Neutral rating on the shares. The company’s Q3 results were "strong" and its execution against an uncertain pandemic re-opening and macro backdrop continues to be impressive, the analyst tells investors in a research note. White adds however that his reduced price target reflects DoorDash’s broad recent multiple compression on high-growth Technology stocks.