Citizens Financial Group maintained its Market Outperform rating on DoorDash Inc. with a price target of $240, according to a Tuesday note. The stock last traded at $223.49, leaving roughly 7% upside to the target.
Analysts at Susquehanna raised their price target to $250, citing DoorDash’s second-quarter revenue growth of 36% year-over-year. Needham reiterated a Buy rating with a $265 target, highlighting better-than-expected results and management execution. UBS, however, raised its target to $225 while keeping a Neutral rating, citing elevated investment levels.
The aggregate price target range for DoorDash stands between $172 and $350, according to InvestingPro data.
Citizens also flagged regulatory pressure in Australia, where gig workers now face a minimum pay requirement of A$31.30 per hour—about 18% above the national minimum wage of A$26.44. The firm expects this to pose a modest headwind for DoorDash and competitors like Uber.
In related developments, Serve Robotics expanded autonomous delivery partnerships with Grubhub and DoorDash. Grubhub’s collaboration now covers Los Angeles, Chicago, and Alexandria, Virginia, while DoorDash’s includes Washington, DC, and San Jose, California. Serve Robotics already operates in Chicago, Los Angeles, and Miami.
Separately, Susquehanna lifted Lyft’s price target to $18 from $15, maintaining a Neutral rating. Lyft projected third-quarter gross bookings of $5.5 billion to $5.67 billion and EBITDA between $183 million and $203 million.
