DoorDash (NASDAQ:DASH) Price Target Cut to $145.00

DoorDash (NASDAQ:DASH) had its price target reduced by analysts at Truist Financial from $155.00 to $145.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 27.41% from the stock’s previous close.

DASH has been the topic of several other reports. UBS Group cut their price objective on DoorDash from $123.00 to $118.00 and set a “neutral” rating on the stock in a research report on Friday, February 16th. Wells Fargo & Company upped their price target on DoorDash from $100.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. Wedbush reissued a “neutral” rating and set a $115.00 price objective on shares of DoorDash in a research report on Thursday. Oppenheimer upped their target price on shares of DoorDash from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Finally, BMO Capital Markets increased their price target on shares of DoorDash from $120.00 to $138.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Nine investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $129.96.

DoorDash Price Performance

DASH traded down $0.50 during trading on Thursday, hitting $113.81. 6,210,790 shares of the stock traded hands, compared to its average volume of 4,293,060. The firm has a 50-day moving average of $131.86 and a 200 day moving average of $110.13. DoorDash has a 12-month low of $60.36 and a 12-month high of $143.34. The firm has a market capitalization of $45.98 billion, a P/E ratio of -105.38, a price-to-earnings-growth ratio of 13.13 and a beta of 1.78.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $2.51 billion during 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%. The firm’s revenue was up 23.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.41) earnings per share. As a group, equities analysts predict that DoorDash will post 0.21 EPS for the current fiscal year.

Insider Activity at DoorDash

In other news, CEO Tony Xu sold 132,300 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $131.96, for a total value of $17,458,308.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other DoorDash news, Director Shona L. Brown sold 700 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $141.60, for a total transaction of $99,120.00. Following the sale, the director now owns 70,111 shares in the company, valued at approximately $9,927,717.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Tony Xu sold 132,300 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $131.96, for a total transaction of $17,458,308.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 487,782 shares of company stock worth $64,046,807. 9.59% of the stock is owned by insiders.

Hedge Funds Weigh In On DoorDash

A number of hedge funds have recently made changes to their positions in the business. Spire Wealth Management purchased a new position in DoorDash during the first quarter valued at $25,000. Fifth Third Bancorp boosted its holdings in shares of DoorDash by 448.8% during the 3rd quarter. Fifth Third Bancorp now owns 439 shares of the company’s stock valued at $35,000 after purchasing an additional 359 shares during the last quarter. Venturi Wealth Management LLC grew its position in shares of DoorDash by 54.5% during the first quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock valued at $35,000 after purchasing an additional 90 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of 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 during the last quarter. Finally, Covestor Ltd lifted its position in shares of DoorDash by 101.2% in the third quarter. Covestor Ltd now owns 503 shares of the company’s stock worth $40,000 after buying an additional 253 shares in the last quarter. Institutional investors 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.