DoorDash (NASDAQ:DASH) Price Target Cut to $127.00

DoorDash (NASDAQ:DASH) had its price target decreased by BMO Capital Markets from $138.00 to $127.00 in a research report released on Thursday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

Several other equities research analysts also recently weighed in on DASH. Deutsche Bank Aktiengesellschaft increased their price target on DoorDash from $140.00 to $155.00 and gave the stock a buy rating in a report on Tuesday, April 16th. The Goldman Sachs Group boosted their target price on shares of DoorDash from $109.00 to $122.00 and gave the company a neutral rating in a research note on Friday, February 16th. Loop Capital started coverage on shares of DoorDash in a research report on Friday, April 19th. They set a buy rating and a $170.00 target price on the stock. Susquehanna upped their price target on shares of DoorDash from $110.00 to $135.00 and gave the stock a positive rating in a research report on Tuesday, February 20th. Finally, Wedbush reissued a neutral rating and set a $115.00 price objective on shares of DoorDash in a report on Thursday. Nine investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $129.96.

DoorDash Price Performance

DASH opened at $113.81 on Thursday. The company’s 50 day moving average is $131.86 and its 200 day moving average is $110.63. DoorDash has a 12-month low of $60.36 and a 12-month high of $143.34.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, May 1st. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The company had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.45 billion. During the same quarter last year, the business earned ($0.41) EPS. The firm’s revenue was up 23.5% compared to the same quarter last year. Equities analysts forecast that DoorDash will post 0.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Andy Fang sold 67,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now owns 40,969 shares of the company’s stock, valued at approximately $4,529,942.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other DoorDash news, CAO Gordon S. Lee sold 1,000 shares of DoorDash stock in a transaction on Friday, March 1st. The shares were 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 owns 92,207 shares of the company’s stock, valued at $11,479,771.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andy Fang sold 67,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 40,969 shares of the company’s stock, valued at $4,529,942.33. The disclosure for this sale can be found here. In the last three months, insiders have sold 487,782 shares of company stock valued at $64,046,807. Company insiders own 9.59% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC increased its stake in shares of 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. SJS Investment Consulting Inc. boosted its holdings in DoorDash by 26.9% in the 4th quarter. SJS Investment Consulting Inc. now owns 462 shares of the company’s stock worth $46,000 after buying an additional 98 shares during the last quarter. Westside Investment Management Inc. increased its stake in DoorDash by 18.2% during the 4th quarter. Westside Investment Management Inc. now owns 650 shares of the company’s stock worth $64,000 after buying an additional 100 shares in the last quarter. Hillsdale Investment Management Inc. raised its holdings in shares of DoorDash by 1.6% during the fourth quarter. Hillsdale Investment Management Inc. now owns 6,540 shares of the company’s stock valued at $647,000 after acquiring an additional 100 shares during the last quarter. Finally, Summit Trail Advisors LLC lifted its position in shares of DoorDash by 0.3% in the first quarter. Summit Trail Advisors LLC now owns 36,925 shares of the company’s stock valued at $5,085,000 after acquiring an additional 106 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other 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.