Jefferies expressed concern that DoorDash's recent increase in affordability initiatives could potentially limit upside to the company's take rate, affecting future revenue growth. The downgrade comes as DoorDash shares have appreciated approximately 45% year-to-date, with the stock's valuation now standing at a 120% premium compared to the broader Internet sector. Despite the rating reduction, Jefferies recognized DoorDash's "strong execution and growth algorithm" but concluded these positive attributes appear to be fully reflected in the current stock price. In other recent news, DoorDash has seen significant developments across various fronts.