DoorDash, Inc. (DASH) saw its stock price plummet by 5.22% during intraday trading on Monday.
The sharp decline followed news that investment bank Jefferies reduced its price target on the food delivery company's stock to $250 from $265, while maintaining a Buy rating. Analyst price target adjustments are closely watched by investors as signals of future performance expectations.
Despite the maintained Buy rating, the reduced target suggests a more cautious outlook on the stock's near-term potential, which appears to have triggered selling pressure among investors during the trading session.
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