DoorDash price target lowered to $275 from $300 at Needham

Needham lowered the firm’s price target on DoorDash (DASH) to $275 from $300 but keeps a Buy rating on the shares. The firm is updating its model after the company’s Q3 results, now integrating Deliveroo, the analyst tells investors in a research note. The quarter continued what looks like to be a banner year for DoorDash, showing continued acceleration in orders and gross order value, and the commentary on already achieving their net add goal for DashPass subscribers is particularly compelling and drives frequency growth in the firm’s estimates next year, Needham added.