DoorDash (NASDAQ:DASH) Price Target Cut to $241.00 by Analysts at UBS Group

DoorDash (NASDAQ:DASH) had its price objective reduced by UBS Group from $316.00 to $241.00 in a research note issued to investors on Thursday morning,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Several other equities analysts have also recently weighed in on DASH. Loop Capital restated a “buy” rating on shares of DoorDash in a report on Tuesday, July 15th. The Goldman Sachs Group started coverage on shares of DoorDash in a research note on Monday, October 27th. They set a “buy” rating and a $315.00 price target on the stock. Oppenheimer reissued an “outperform” rating and issued a $280.00 price objective on shares of DoorDash in a research note on Thursday. Raymond James Financial restated a “strong-buy” rating and set a $325.00 target price (up from $275.00) on shares of DoorDash in a research report on Thursday, August 7th. Finally, Morgan Stanley lifted their price target on DoorDash from $300.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $280.62.

DoorDash Stock Performance

DoorDash stock traded up $7.85 during mid-day trading on Thursday, reaching $204.31. 9,522,053 shares of the stock traded hands, compared to its average volume of 4,258,160. The business’s 50-day moving average is $259.57 and its 200-day moving average is $237.02. The stock has a market capitalization of $87.28 billion, a PE ratio of 99.73 and a beta of 1.70. DoorDash has a 12-month low of $155.40 and a 12-month high of $285.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.04 and a quick ratio of 2.07.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.13). DoorDash had a net margin of 6.83% and a return on equity of 9.97%. The company had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same period in the prior year, the firm posted $0.38 EPS. The business’s revenue for the quarter was up 27.3% on a year-over-year basis. As a group, sell-side analysts predict that DoorDash will post 2.22 EPS for the current fiscal year.

Insider Buying and Selling

In other DoorDash news, CEO Tony Xu sold 291,403 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total value of $69,409,280.57. Following the completion of the sale, the chief executive officer directly owned 229,047 shares in the company, valued at approximately $54,556,704.93. This represents a 55.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Prabir Adarkar sold 41,881 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the completion of the sale, the chief operating officer directly owned 914,547 shares of the company’s stock, valued at approximately $224,813,943.54. This trade represents a 4.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 876,527 shares of company stock valued at $218,129,954 over the last quarter. 5.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DoorDash

Institutional investors have recently bought and sold shares of the business. Night Squared LP acquired a new position in shares of DoorDash in the first quarter valued at approximately $2,780,000. Mutual of America Capital Management LLC acquired a new position in shares of DoorDash during the 1st quarter worth $7,200,000. Public Investment Fund boosted its stake in shares of DoorDash by 68.3% in the 1st quarter. Public Investment Fund now owns 821,389 shares of the company’s stock valued at $150,125,000 after purchasing an additional 333,369 shares in the last quarter. Ardmore Road Asset Management LP grew its position in DoorDash by 6.7% during the 1st quarter. Ardmore Road Asset Management LP now owns 80,000 shares of the company’s stock worth $14,622,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Junto Capital Management LP acquired a new stake in DoorDash during the 1st quarter worth approximately $29,261,000. 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.