DoorDash (NASDAQ:DASH) Price Target Cut to $140.00

DoorDash (NASDAQ:DASH) had its price target lowered by analysts at JMP Securities from $160.00 to $140.00 in a report released on Thursday, Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ price objective would indicate a potential upside of 23.01% from the stock’s previous close.

A number of other research analysts have also recently commented on DASH. BMO Capital Markets reduced their target price on shares of DoorDash from $138.00 to $127.00 and set an “outperform” rating on the stock in a research report on Thursday. Susquehanna raised their target price on DoorDash from $110.00 to $135.00 and gave the company a “positive” rating in a research note on Tuesday, February 20th. Moffett Nathanson upgraded DoorDash from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $118.00 to $164.00 in a research note on Thursday, April 11th. Jefferies Financial Group upgraded DoorDash from a “hold” rating to a “buy” rating and raised their price objective for the company from $90.00 to $130.00 in a research note on Monday, January 8th. Finally, Truist Financial cut their target price on DoorDash from $155.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday. Nine research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and a consensus price target of $129.96.

DoorDash Trading Down 0.4 %

Shares of NASDAQ DASH opened at $113.81 on Thursday. The stock has a fifty day moving average price of $132.02 and a 200 day moving average price of $109.87. The company has a market cap of $45.98 billion, a P/E ratio of -105.84, a P/E/G ratio of 14.18 and a beta of 1.78. DoorDash has a 12-month low of $60.36 and a 12-month high of $143.34.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, May 1st. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. The business had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.45 billion. DoorDash had a negative return on equity of 6.38% and a negative net margin of 4.61%. The company’s revenue was up 23.5% on a year-over-year basis. During the same period last year, the business posted ($0.41) EPS. On average, sell-side analysts forecast that DoorDash will post 0.21 EPS for the current fiscal year.

Insider Buying and Selling

In other DoorDash news, Director Andy Fang sold 67,000 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $110.57, for a total value of $7,408,190.00. Following the sale, the director now directly owns 40,969 shares in the company, valued at $4,529,942.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Gordon S. Lee sold 1,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $124.50, for a total value of $124,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 92,207 shares of the company’s stock, valued at approximately $11,479,771.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andy Fang sold 67,000 shares of DoorDash stock in a transaction on Friday, February 16th. The shares were sold at an average price of $110.57, for a total value of $7,408,190.00. Following the sale, the director now directly owns 40,969 shares in the company, valued at approximately $4,529,942.33. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 487,782 shares of company stock valued at $64,046,807. Insiders own 9.59% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Hedge funds and other institutional investors have recently modified their holdings of the stock. Spire Wealth Management acquired a new position in DoorDash during the 1st quarter valued at about $25,000. Fifth Third Bancorp increased its stake in shares of DoorDash by 448.8% during the third quarter. Fifth Third Bancorp now owns 439 shares of the company’s stock valued at $35,000 after acquiring an additional 359 shares during the period. Venturi Wealth Management LLC raised its holdings in DoorDash by 54.5% during the first quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock worth $35,000 after purchasing an additional 90 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in DoorDash by 361.2% in the fourth quarter. Parkside Financial Bank & Trust now owns 392 shares of the company’s stock worth $39,000 after purchasing an additional 307 shares during the period. Finally, Covestor Ltd boosted its stake in DoorDash by 101.2% during the 3rd quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $40,000 after purchasing an additional 253 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors.

DoorDash Company Profile

DoorDash, Inc, together with its subsidiaries, operates a commerce platform that connects merchants, consumers, and independent contractors in the United States and internationally. The company operates DoorDash Marketplace and Wolt Marketplace, which provide various services, such as customer acquisition, demand generation, order fulfillment, merchandising, payment processing, and customer support.