DoorDash (NASDAQ:DASH) Stock Price Target Lowered at Rosenblatt Securities

DoorDash (NASDAQ:DASH) had its price target lowered by Rosenblatt Securities from $270.00 to $225.00 in a research note published on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also recently commented on DASH. KeyCorp decreased their target price on shares of DoorDash from $280.00 to $275.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 14th. Susquehanna lifted their price target on shares of DoorDash from $225.00 to $250.00 and gave the company a “positive” rating in a research report on Friday, August 7th. Loop Capital boosted their price target on shares of DoorDash from $225.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, September 22nd. Needham & Company LLC decreased their price objective on shares of DoorDash from $265.00 to $235.00 and set a “buy” rating on the stock in a report on Friday, October 30th. Finally, The Goldman Sachs Group decreased their price objective on shares of DoorDash from $280.00 to $275.00 in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and an average target price of $248.66.

DoorDash Trading Down 0.1%

NASDAQ:DASH traded down $0.25 on Friday, reaching $179.67. The company’s stock had a trading volume of 4,548,096 shares, compared to its average volume of 4,164,534. DoorDash has a 12-month low of $143.30 and a 12-month high of $239.00. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.25. The firm has a market cap of $77.85 billion, a price-to-earnings ratio of 74.24 and a beta of 1.98. The stock has a 50 day moving average price of $193.38 and a 200 day moving average price of $182.51.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Thursday, October 29th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.25. The business had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.56 billion. DoorDash had a return on equity of 10.40% and a net margin of 6.23%. The company’s revenue was up 34.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.55 EPS. On average, equities analysts anticipate that DoorDash will post 2.68 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In related news, COO Keith Yandell sold 2,183 shares of DoorDash stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $183.69, for a total value of $400,995.27. Following the completion of the transaction, the chief operating officer owned 118,505 shares in the company, valued at approximately $21,768,183.45. The trade was a 1.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 23,125 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $188.71, for a total transaction of $4,363,918.75. Following the sale, the director directly owned 10,361 shares in the company, valued at approximately $1,955,224.31. The trade was a 69.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 349,430 shares of company stock valued at $76,644,002. Corporate insiders own 44.90% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. raised its stake in shares of DoorDash by 2,304.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 3,452,110 shares of the company’s stock valued at $633,635,000 after acquiring an additional 3,308,512 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in DoorDash by 372.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,137,719 shares of the company’s stock worth $575,928,000 after purchasing an additional 2,472,980 shares in the last quarter. Janus Henderson Group PLC grew its stake in DoorDash by 40.2% during the 1st quarter. Janus Henderson Group PLC now owns 7,762,553 shares of the company’s stock worth $1,159,377,000 after purchasing an additional 2,225,954 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in DoorDash by 15,993.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 1,216,478 shares of the company’s stock worth $223,285,000 after purchasing an additional 1,208,919 shares during the period. Finally, Temasek Holdings Private Ltd increased its holdings in DoorDash by 49.4% during the 1st quarter. Temasek Holdings Private Ltd now owns 3,461,501 shares of the company’s stock worth $519,744,000 after purchasing an additional 1,145,078 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Key Stories Impacting DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash and Lyft launched Lyft Go, a $9.99 monthly membership that includes DashPass and 8% credits on Lyft rides for future rides or DoorDash orders. The bundle could help DoorDash attract and retain customers, though its financial impact is not yet known. Lyft Debuts Joint Membership Program With DoorDash
• Neutral Sentiment: Rosenblatt Securities lowered its DoorDash price target to $225 from $270 but maintained a Buy rating. The cut signals a more cautious outlook, although the new target remains above the cited share price. Rosenblatt Securities analyst ratings
• Negative Sentiment: Small grocers have questioned whether DoorDash’s proposed Instacart deal would benefit them, highlighting potential pushback as the transaction faces scrutiny and uncertainty. Grocers push back on DoorDash’s Instacart deal
• Negative Sentiment: Director Stanley Tang sold 23,125 shares, cutting his direct holdings by about 69%. The sale was made under a pre-arranged trading plan, which may reduce its significance as a signal about his view of the stock. SEC filing for Stanley Tang share sale

About DoorDash

DoorDash, Inc operates a local commerce platform that connects consumers with restaurants and other merchants, as well as with independent delivery workers. Through its app and website, customers can order restaurant meals, groceries, convenience items and products from other local retailers for delivery or pickup.

The company also provides services for merchants, including tools for online ordering, marketing and fulfillment. Its offerings include DoorDash Drive, which provides delivery logistics for merchants’ own orders, and DashPass, a subscription program for eligible orders.