DoorDash (NYSE:DASH) Price Target Cut to $62.00 by Analysts at Morgan Stanley

DoorDash (NYSE:DASHGet Rating) had its price target decreased by analysts at Morgan Stanley from $67.00 to $62.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 13.45% from the stock’s previous close.

Several other equities analysts also recently issued reports on DASH. The Goldman Sachs Group cut their price objective on DoorDash from $84.00 to $69.00 and set a “neutral” rating for the company in a research report on Monday, November 7th. Needham & Company LLC cut their price objective on DoorDash from $115.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, November 4th. Wells Fargo & Company cut their price objective on DoorDash from $100.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday. Royal Bank of Canada downgraded DoorDash from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $70.00 to $60.00 in a research report on Friday, December 2nd. Finally, Truist Financial cut their price objective on DoorDash from $185.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, October 24th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $90.33.

DoorDash Price Performance

DoorDash stock opened at $54.65 on Wednesday. The company has a market capitalization of $21.22 billion, a PE ratio of -22.58 and a beta of 1.35. DoorDash has a one year low of $41.37 and a one year high of $136.85. The business has a 50 day simple moving average of $53.73 and a 200 day simple moving average of $58.48.

DoorDash (NYSE:DASHGet Rating) last posted its earnings results on Thursday, November 3rd. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.17). The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.64 billion. DoorDash had a negative return on equity of 14.94% and a negative net margin of 14.51%. Equities analysts anticipate that DoorDash will post -2.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DoorDash news, Director Shona L. Brown sold 1,250 shares of the business’s stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $47.32, for a total value of $59,150.00. Following the completion of the transaction, the director now directly owns 82,278 shares of the company’s stock, valued at $3,893,394.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other DoorDash news, Director Shona L. Brown sold 1,250 shares of the business’s stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $47.32, for a total value of $59,150.00. Following the completion of the transaction, the director now directly owns 82,278 shares of the company’s stock, valued at $3,893,394.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Christopher D. Payne sold 47,093 shares of the business’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $47.79, for a total value of $2,250,574.47. Following the completion of the transaction, the chief operating officer now directly owns 353,943 shares of the company’s stock, valued at $16,914,935.97. The disclosure for this sale can be found here. Insiders sold a total of 146,605 shares of company stock valued at $7,622,620 over the last three months. Company insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of DoorDash by 22.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 988 shares of the company’s stock valued at $63,000 after purchasing an additional 179 shares in the last quarter. Utah Retirement Systems lifted its holdings in shares of DoorDash by 0.4% in the third quarter. Utah Retirement Systems now owns 44,700 shares of the company’s stock valued at $2,211,000 after purchasing an additional 200 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of DoorDash by 42.3% in the fourth quarter. UMB Bank n.a. now owns 703 shares of the company’s stock valued at $34,000 after purchasing an additional 209 shares in the last quarter. Westside Investment Management Inc. lifted its holdings in shares of DoorDash by 19.5% in the second quarter. Westside Investment Management Inc. now owns 1,410 shares of the company’s stock valued at $114,884,000 after purchasing an additional 230 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in shares of DoorDash by 11.0% in the third quarter. Advisors Asset Management Inc. now owns 2,318 shares of the company’s stock valued at $115,000 after purchasing an additional 230 shares in the last quarter. 72.65% of the stock is owned by institutional investors and hedge funds.

DoorDash Company Profile

(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.

See Also

Analyst Recommendations for DoorDash (NYSE:DASH)

Receive News & Ratings for DoorDash Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DoorDash and related companies with MarketBeat.com's FREE daily email newsletter.