DoorDash (NASDAQ:DASH) Price Target Cut to $165.00

DoorDash (NASDAQ:DASH) had its target price decreased by equities research analysts at Royal Bank of Canada from $175.00 to $165.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 44.98% from the company’s current price.

Several other equities research analysts have also issued reports on DASH. Roth Mkm lifted their price target on shares of DoorDash from $92.00 to $109.00 and gave the company a “neutral” rating in a research note on Friday, January 19th. Loop Capital started coverage on DoorDash in a report on Friday, April 19th. They set a “buy” rating and a $170.00 price target for the company. JMP Securities boosted their price objective on DoorDash from $130.00 to $160.00 and gave the stock a “market outperform” rating in a report on Wednesday, March 27th. Moffett Nathanson upgraded DoorDash from a “neutral” rating to a “buy” rating and increased their target price for the stock from $118.00 to $164.00 in a research note on Thursday, April 11th. Finally, Oppenheimer boosted their price target on DoorDash from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Nine investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, DoorDash has an average rating of “Moderate Buy” and an average target price of $129.96.

DoorDash Price Performance

Shares of DoorDash stock traded down $0.50 on Thursday, hitting $113.81. The company had a trading volume of 6,210,790 shares, compared to its average volume of 4,293,060. The firm has a market capitalization of $45.98 billion, a P/E ratio of -105.38, a P/E/G ratio of 13.13 and a beta of 1.78. DoorDash has a twelve month low of $60.36 and a twelve month high of $143.34. The stock has a 50-day moving average of $131.86 and a 200-day moving average of $110.13.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.45 billion. DoorDash had a negative return on equity of 6.28% and a negative net margin of 4.61%. DoorDash’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.41) EPS. Equities analysts predict that DoorDash will post 0.21 EPS for the current year.

Insider Buying and Selling

In other news, Director Shona L. Brown sold 700 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $109.71, for a total transaction of $76,797.00. Following the transaction, the director now owns 71,514 shares of the company’s stock, valued at approximately $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 DoorDash news, General Counsel Tia Sherringham sold 1,880 shares of DoorDash stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $120.15, for a total transaction of $225,882.00. Following the completion of the transaction, the general counsel now owns 217,260 shares in the company, valued at approximately $26,103,789. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shona L. Brown sold 700 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 71,514 shares of the company’s stock, valued at $7,845,800.94. The disclosure for this sale can be found here. Insiders have sold a total of 487,782 shares of company stock valued at $64,046,807 over the last ninety days. 9.59% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DoorDash

Several large investors have recently bought and sold shares of DASH. Versor Investments LP bought a new position in shares of DoorDash during the third quarter valued at about $556,000. Assenagon Asset Management S.A. boosted its stake in shares of DoorDash by 1,725.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock worth $110,082,000 after buying an additional 1,052,198 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of DoorDash in the fourth quarter valued at approximately $769,000. Angeles Investment Advisors LLC bought a new position in shares of DoorDash in the third quarter valued at approximately $336,000. Finally, Bank of Nova Scotia increased its position in shares of DoorDash by 685.9% during the third quarter. Bank of Nova Scotia now owns 46,751 shares of the company’s stock valued at $3,715,000 after acquiring an additional 40,802 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

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.