DoorDash (NYSE:DASH) Given New $185.00 Price Target at Truist Financial

DoorDash (NYSE:DASH – Get Rating) had its price target lowered by Truist Financial from $200.00 to $185.00 in a research note issued to investors on Thursday, The Fly reports. Truist Financial’s price objective suggests a potential upside of 157.12% from the company’s previous close.

A number of other brokerages have also recently issued reports on DASH. Zacks Investment Research upgraded DoorDash from a “sell” rating to a “hold” rating in a research note on Tuesday, April 19th. Needham & Company LLC lowered their price objective on DoorDash from $160.00 to $140.00 in a research note on Friday, May 6th. Citigroup lowered their price objective on DoorDash from $155.00 to $138.00 in a research note on Friday, May 6th. Morgan Stanley initiated coverage on DoorDash in a research note on Monday, April 25th. They set an “equal weight” rating and a $100.00 price objective for the company. Finally, Royal Bank of Canada lowered their price objective on DoorDash from $142.00 to $94.00 in a research note on Friday, May 6th. Ten analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $156.14.

Shares of DASH stock opened at $71.95 on Thursday. The firm has a market cap of $25.27 billion, a P/E ratio of -47.03 and a beta of 1.03. DoorDash has a fifty-two week low of $57.60 and a fifty-two week high of $257.25. The business’s 50 day moving average price is $89.52 and its 200-day moving average price is $117.08.

DoorDash (NYSE:DASH – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.08). DoorDash had a negative return on equity of 11.25% and a negative net margin of 9.97%. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the business posted ($0.34) earnings per share. DoorDash’s quarterly revenue was up 35.2% compared to the same quarter last year. On average, research analysts forecast that DoorDash will post -1.52 EPS for the current fiscal year.

In other news, major shareholder Us (Ttgp) Ltd. Sc bought 390,276 shares of the firm’s stock in a transaction that occurred on Tuesday, March 8th. The shares were bought at an average cost of $84.65 per share, for a total transaction of $33,036,863.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alfred Lin bought 183,224 shares of the firm’s stock in a transaction that occurred on Wednesday, March 9th. The stock was purchased at an average price of $92.38 per share, for a total transaction of $16,926,233.12. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 409,548 shares of company stock valued at $36,818,066. Corporate insiders own 15.54% of the company’s stock.

A number of hedge funds have recently modified their holdings of DASH. Morgan Stanley raised its position in DoorDash by 11.6% during the second quarter. Morgan Stanley now owns 12,189,528 shares of the company’s stock valued at $2,173,759,000 after purchasing an additional 1,269,171 shares during the period. US Bancorp DE raised its holdings in shares of DoorDash by 4,016.7% in the third quarter. US Bancorp DE now owns 247 shares of the company’s stock worth $52,000 after buying an additional 241 shares during the period. American Century Companies Inc. purchased a new stake in shares of DoorDash in the third quarter worth approximately $520,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of DoorDash in the third quarter worth approximately $3,811,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of DoorDash by 21.2% in the third quarter. The Manufacturers Life Insurance Company now owns 7,330 shares of the company’s stock worth $1,510,000 after buying an additional 1,281 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

About DoorDash (Get Rating)

DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.

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