DoorDash (NASDAQ:DASH) Price Target Cut to $127.00

DoorDash (NASDAQ:DASH) had its target price reduced by equities researchers at BMO Capital Markets from $138.00 to $127.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ price target points to a potential upside of 14.09% from the company’s current price.

Other analysts also recently issued research reports about the stock. Needham & Company LLC reissued a “buy” rating and set a $137.00 price target on shares of DoorDash in a research report on Thursday. Oppenheimer increased their price target on DoorDash from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday. Roth Mkm lifted their price objective on shares of DoorDash from $92.00 to $109.00 and gave the company a “neutral” rating in a research report on Friday, January 19th. Moffett Nathanson raised DoorDash from a “neutral” rating to a “buy” rating and lifted their target price for the company from $118.00 to $164.00 in a research note on Thursday, April 11th. Finally, UBS Group decreased their price target on DoorDash from $123.00 to $118.00 and set a “neutral” rating for the company in a research note on Friday, February 16th. Nine investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and an average target price of $129.24.

DoorDash Stock Performance

Shares of DASH traded down $16.14 during trading hours on Thursday, hitting $111.32. The stock had a trading volume of 9,603,682 shares, compared to its average volume of 3,719,476. DoorDash has a 12-month low of $60.36 and a 12-month high of $143.34. The firm has a market cap of $44.97 billion, a P/E ratio of -77.29, a P/E/G ratio of 14.38 and a beta of 1.78. The company’s fifty day simple moving average is $131.90 and its 200 day simple moving average is $109.72.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Thursday, February 15th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.24). DoorDash had a negative return on equity of 8.49% and a negative net margin of 6.46%. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period in the previous year, the company earned ($0.63) EPS. DoorDash’s revenue was up 26.7% on a year-over-year basis. As a group, sell-side analysts predict that DoorDash will post 0.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Shona L. Brown sold 700 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $109.71, for a total value of $76,797.00. Following the completion of the sale, the director now directly owns 71,514 shares of the company’s stock, valued at $7,845,800.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Andy Fang sold 66,195 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $139.31, for a total transaction of $9,221,625.45. Following the transaction, the director now directly owns 36,482 shares in the company, valued at approximately $5,082,307.42. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Shona L. Brown sold 700 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $109.71, for a total value 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 480,782 shares of company stock worth $63,130,157. 9.59% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Spire Wealth Management acquired a new position in DoorDash during the first quarter valued at approximately $25,000. Fifth Third Bancorp lifted its holdings in shares of DoorDash by 448.8% during the third quarter. Fifth Third Bancorp now owns 439 shares of the company’s stock valued at $35,000 after acquiring an additional 359 shares during the period. Venturi Wealth Management LLC grew its position in DoorDash by 54.5% during the 1st quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock worth $35,000 after acquiring an additional 90 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in DoorDash by 361.2% during the 4th quarter. Parkside Financial Bank & Trust now owns 392 shares of the company’s stock worth $39,000 after acquiring an additional 307 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of DoorDash by 101.2% in the 3rd quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $40,000 after buying an additional 253 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

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.