Royal Bank of Canada Trims DoorDash (NASDAQ:DASH) Target Price to $165.00

DoorDash (NASDAQ:DASH) had its target price cut by Royal Bank of Canada from $175.00 to $165.00 in a research report released on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also weighed in on the stock. UBS Group dropped their price target on shares of DoorDash from $123.00 to $118.00 and set a neutral rating for the company in a research report on Friday, February 16th. Mizuho boosted their price target on shares of DoorDash from $140.00 to $152.00 and gave the stock a buy rating in a research note on Friday, February 16th. JMP Securities increased their price objective on shares of DoorDash from $130.00 to $160.00 and gave the company a market outperform rating in a report on Wednesday, March 27th. Piper Sandler raised DoorDash from an underweight rating to a neutral rating and lifted their target price for the stock from $53.00 to $127.00 in a report on Friday, March 15th. Finally, The Goldman Sachs Group increased their price target on DoorDash from $109.00 to $122.00 and gave the company a neutral rating in a research note on Friday, February 16th. 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 MarketBeat.com, DoorDash currently has a consensus rating of Moderate Buy and a consensus price target of $129.96.

DoorDash Trading Down 0.4 %

NASDAQ DASH opened at $113.81 on Thursday. The business’s fifty day moving average is $131.86 and its 200 day moving average is $110.63. DoorDash has a fifty-two week low of $60.36 and a fifty-two week high of $143.34.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. The firm 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 6.28% and a negative net margin of 4.61%. The business’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.41) earnings per share. As a group, equities research analysts predict that DoorDash will post 0.17 earnings per share for the current fiscal year.

Insider Activity at DoorDash

In other DoorDash news, CEO Tony Xu sold 132,300 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $131.96, for a total transaction of $17,458,308.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Shona L. Brown sold 700 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $109.71, for a total transaction of $76,797.00. Following the sale, the director now owns 71,514 shares of the company’s stock, valued at $7,845,800.94. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Tony Xu sold 132,300 shares of DoorDash stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $131.96, for a total transaction of $17,458,308.00. The disclosure for this sale can be found here. Insiders sold 487,782 shares of company stock worth $64,046,807 over the last three months. 9.59% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DoorDash

Several institutional investors and hedge funds have recently bought and sold shares of the company. Carlyle Group Inc. purchased a new stake in shares of DoorDash during the 1st quarter valued at $572,000. Central Pacific Bank Trust Division purchased a new stake in DoorDash in the first quarter valued at about $1,800,000. FORA Capital LLC acquired a new stake in DoorDash in the first quarter worth about $1,164,000. Gilbert & Cook Inc. purchased a new stake in shares of DoorDash during the first quarter worth about $266,000. Finally, Nordea Investment Management AB increased its holdings in shares of DoorDash by 5.7% during the first quarter. Nordea Investment Management AB now owns 19,071 shares of the company’s stock valued at $2,661,000 after acquiring an additional 1,022 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

About DoorDash

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.