Truist Financial Trims DoorDash (NASDAQ:DASH) Target Price to $145.00

DoorDash (NASDAQ:DASH) had its target price dropped by equities research analysts at Truist Financial from $155.00 to $145.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 31.11% from the stock’s previous close.

DASH has been the topic of several other research reports. Jefferies Financial Group raised DoorDash from a “hold” rating to a “buy” rating and upped their price target for the company from $90.00 to $130.00 in a report on Monday, January 8th. BMO Capital Markets upped their price target on DoorDash from $120.00 to $138.00 and gave the company an “outperform” rating in a report on Friday, February 16th. The Goldman Sachs Group lifted their price objective on shares of DoorDash from $109.00 to $122.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. UBS Group lowered their price objective on shares of DoorDash from $123.00 to $118.00 and set a “neutral” rating on the stock in a research report on Friday, February 16th. Finally, Loop Capital began coverage on shares of DoorDash in a research report on Friday, April 19th. They set a “buy” rating and a $170.00 price objective on the stock. Nine analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $129.68.

DoorDash Stock Performance

Shares of NASDAQ:DASH traded down $16.87 during trading hours on Thursday, hitting $110.59. The stock had a trading volume of 6,947,417 shares, compared to its average volume of 3,687,437. The stock’s fifty day simple moving average is $131.90 and its 200 day simple moving average is $109.72. DoorDash has a 1-year low of $60.36 and a 1-year high of $143.34. The firm has a market capitalization of $44.68 billion, a price-to-earnings ratio of -77.34, a PEG ratio of 14.38 and a beta of 1.78.

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

Insider Activity

In other news, CAO Gordon S. Lee sold 1,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $124.50, for a total transaction of $124,500.00. Following the completion of the transaction, the chief accounting officer now owns 92,207 shares of the company’s stock, valued at $11,479,771.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Gordon S. Lee sold 1,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $124.50, for a total transaction of $124,500.00. Following the completion of the transaction, the chief accounting officer now owns 92,207 shares of the company’s stock, valued at $11,479,771.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tony Xu sold 132,300 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $133.51, for a total transaction of $17,663,373.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 480,782 shares of company stock valued at $63,130,157. Insiders own 9.59% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Spire Wealth Management acquired a new position in DoorDash in the first quarter worth about $25,000. Fifth Third Bancorp raised its position in DoorDash by 448.8% in the third quarter. Fifth Third Bancorp now owns 439 shares of the company’s stock worth $35,000 after purchasing an additional 359 shares in the last quarter. Venturi Wealth Management LLC raised its position in DoorDash by 54.5% in the first quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock worth $35,000 after purchasing an additional 90 shares in the last quarter. Parkside Financial Bank & Trust raised its position in DoorDash by 361.2% in the fourth quarter. Parkside Financial Bank & Trust now owns 392 shares of the company’s stock worth $39,000 after purchasing an additional 307 shares in the last quarter. Finally, Covestor Ltd grew its stake in DoorDash by 101.2% during the third quarter. Covestor Ltd now owns 503 shares of the company’s stock worth $40,000 after buying an additional 253 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

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.