Easing food prices and resilient consumer spending will carry DoorDash, analysts say, as shares rise

DoorDash got an upgrade from Mizuho analysts, who cited the delivery app's size as well as 'resilient' consumer spending.

After being hit with a downgrade Friday from analysts at one firm, DoorDash Inc. over the weekend got an upgrade from analysts at another, who cited the delivery app’s size along with “resilient” consumer spending.

On Friday, analysts at MoffettNathanson downgraded DoorDash, saying that the return of student-loan payments would weigh on demand for food delivery, which they called an “affordable luxury” for customers. The diverging takes on DoorDash come as the company tries to expand its delivery services from restaurants to other areas of retail, and as Wall Street tries to suss out consumer priorities as oil and gas prices remain high and drive up overall inflation figures.

“Furthermore, we believe [DoorDash] has the flexibility of investing in new categories,” the analysts said.

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