KeyCorp Cuts DoorDash (NASDAQ:DASH) Price Target to $275.00

DoorDash (NASDAQ:DASH) had its price target decreased by KeyCorp from $280.00 to $275.00 in a report issued on Tuesday, MarketBeat Ratings reports. KeyCorp currently has an overweight rating on the stock.

Several other equities analysts have also commented on DASH. Barclays dropped their target price on DoorDash from $272.00 to $238.00 and set an “equal weight” rating for the company in a research note on Thursday, November 6th. Wells Fargo & Company lifted their price target on DoorDash from $239.00 to $251.00 and gave the company an “equal weight” rating in a report on Thursday, January 8th. Mizuho dropped their price objective on shares of DoorDash from $350.00 to $320.00 and set an “outperform” rating for the company in a research note on Wednesday, November 12th. Royal Bank Of Canada decreased their target price on shares of DoorDash from $300.00 to $270.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. Finally, Bank of America lowered their target price on shares of DoorDash from $325.00 to $305.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $281.26.

DoorDash Stock Performance

NASDAQ:DASH opened at $207.65 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.04 and a quick ratio of 2.04. The firm has a market cap of $89.50 billion, a PE ratio of 105.41 and a beta of 1.70. The firm has a 50 day simple moving average of $217.08 and a 200-day simple moving average of $239.46. DoorDash has a 1-year low of $155.40 and a 1-year high of $285.50.

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

Insider Activity

In other news, CEO Tony Xu sold 288,410 shares of the firm’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $196.04, for a total value of $56,539,896.40. Following the transaction, the chief executive officer owned 232,040 shares of the company’s stock, valued at approximately $45,489,121.60. This trade represents a 55.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Prabir Adarkar sold 30,000 shares of DoorDash stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $234.57, for a total transaction of $7,037,100.00. Following the transaction, the chief operating officer owned 874,130 shares in the company, valued at $205,044,674.10. The trade was a 3.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 632,885 shares of company stock valued at $133,222,817 over the last quarter. 5.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Gilbert & Cook Inc. boosted its position in shares of DoorDash by 2.6% in the second quarter. Gilbert & Cook Inc. now owns 1,685 shares of the company’s stock worth $415,000 after buying an additional 42 shares during the period. Resonant Capital Advisors LLC lifted its position in DoorDash by 3.5% during the 3rd quarter. Resonant Capital Advisors LLC now owns 1,229 shares of the company’s stock worth $334,000 after acquiring an additional 42 shares in the last quarter. Premier Path Wealth Partners LLC boosted its holdings in DoorDash by 1.9% in the 3rd quarter. Premier Path Wealth Partners LLC now owns 2,414 shares of the company’s stock worth $657,000 after acquiring an additional 45 shares during the period. Perigon Wealth Management LLC grew its position in DoorDash by 1.3% in the second quarter. Perigon Wealth Management LLC now owns 3,701 shares of the company’s stock valued at $912,000 after acquiring an additional 46 shares in the last quarter. Finally, Advisory Resource Group raised its stake in shares of DoorDash by 0.8% during the second quarter. Advisory Resource Group now owns 5,774 shares of the company’s stock valued at $1,423,000 after purchasing an additional 48 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Company Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.