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

DoorDash (NASDAQ:DASH) had its price objective cut by JMP Securities from $160.00 to $140.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a market outperform rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Oppenheimer upped their target price on shares of DoorDash from $140.00 to $150.00 and gave the stock an outperform rating in a report on Monday, April 29th. Wells Fargo & Company increased their price objective on shares of DoorDash from $100.00 to $125.00 and gave the company an equal weight rating in a report on Thursday, April 4th. Loop Capital assumed coverage on DoorDash in a report on Friday, April 19th. They set a buy rating and a $170.00 target price on the stock. JPMorgan Chase & Co. increased their price target on DoorDash from $108.00 to $111.00 and gave the company a neutral rating in a report on Thursday. Finally, Mizuho boosted their price objective on DoorDash from $140.00 to $152.00 and gave the stock a buy rating in a research note on Friday, February 16th. Nine analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, DoorDash has an average rating of Moderate Buy and a consensus price target of $129.96.

DoorDash Price Performance

DoorDash stock traded down $0.50 during midday trading on Thursday, reaching $113.81. The company had a trading volume of 6,210,790 shares, compared to its average volume of 4,293,060. DoorDash has a 12-month low of $60.36 and a 12-month high of $143.34. The firm’s fifty day simple moving average is $131.86 and its 200-day simple moving average is $110.13. The company has a market capitalization of $45.98 billion, a P/E ratio of -105.38, a P/E/G ratio of 13.07 and a beta of 1.78.

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

Insider Transactions at DoorDash

In related news, Director Andy Fang sold 67,000 shares of DoorDash 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 transaction, the director now owns 40,969 shares in the company, valued at $4,529,942.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other DoorDash news, CAO Gordon S. Lee sold 1,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $124.50, for a total value of $124,500.00. Following the sale, the chief accounting officer now owns 92,207 shares of the company’s stock, valued at approximately $11,479,771.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the director now directly owns 40,969 shares of the company’s stock, valued at $4,529,942.33. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 487,782 shares of company stock valued at $64,046,807. 9.59% of the stock is currently owned by corporate insiders.

Institutional Trading of DoorDash

Several hedge funds have recently added to or reduced their stakes in DASH. Versor Investments LP purchased a new stake in shares of DoorDash in the 3rd quarter valued at approximately $556,000. Assenagon Asset Management S.A. increased its holdings in DoorDash by 1,725.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock valued at $110,082,000 after buying an additional 1,052,198 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in DoorDash in the fourth quarter valued at $769,000. Angeles Investment Advisors LLC acquired a new stake in DoorDash in the third quarter valued at $336,000. Finally, Bank of Nova Scotia boosted its position in shares of DoorDash by 685.9% during the 3rd quarter. Bank of Nova Scotia now owns 46,751 shares of the company’s stock worth $3,715,000 after acquiring an additional 40,802 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

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.