Roth MKM lowered the firm’s price target on DoorDash to $118 from $121 and keeps a Neutral rating on the shares. The company reported a mixed-bag quarter with slight upside to Q1 expectations but with Q2 outlook bracketing Street estimates and coming in well below the more elevated buy-side forecasts, the analyst tells investors in a research note. DoorDash continues to invest with a focus on growing long-term free cash flow, which likely goes against investor expectations of greater efficiency over the near term, the firm added.
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