DoorDash (NASDAQ:DASH) Price Target Cut to $140.00 by Analysts at JMP Securities

DoorDash (NASDAQ:DASH) had its price objective decreased by JMP Securities from $160.00 to $140.00 in a research note published on Thursday, Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Several other equities research analysts have also issued reports on the stock. Morgan Stanley raised shares of DoorDash from an equal weight rating to an overweight rating and boosted their price target for the company from $135.00 to $145.00 in a report on Thursday, February 22nd. Susquehanna raised their price target on shares of DoorDash from $110.00 to $135.00 and gave the stock a positive rating in a research note on Tuesday, February 20th. BMO Capital Markets lowered their price objective on DoorDash from $138.00 to $127.00 and set an outperform rating on the stock in a research note on Thursday. Royal Bank of Canada cut their target price on DoorDash from $175.00 to $165.00 and set an outperform rating for the company in a research report on Thursday. Finally, Piper Sandler raised DoorDash from an underweight rating to a neutral rating and boosted their price target for the company from $53.00 to $127.00 in a research note on Friday, March 15th. Nine equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $129.96.

DoorDash Stock Down 0.4 %

DoorDash stock traded down $0.50 during mid-day trading on Thursday, reaching $113.81. The company had a trading volume of 5,895,826 shares, compared to its average volume of 3,905,451. The firm has a market cap of $45.98 billion, a price-to-earnings ratio of -105.84, a PEG ratio of 14.18 and a beta of 1.78. The company has a 50 day moving average of $132.02 and a 200-day moving average of $109.87. DoorDash has a 52 week low of $60.36 and a 52 week high of $143.34.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.38%. The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same quarter last year, the company earned ($0.41) earnings per share. The firm’s revenue was up 23.5% on a year-over-year basis. On average, analysts predict that DoorDash will post 0.21 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Ravi Inukonda sold 7,000 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $130.95, for a total transaction of $916,650.00. Following the transaction, the chief financial officer now owns 384,425 shares of the company’s stock, valued at $50,340,453.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related 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 transaction, the director now directly owns 71,514 shares in the company, valued at $7,845,800.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $130.95, for a total transaction of $916,650.00. Following the sale, the chief financial officer now directly owns 384,425 shares of the company’s stock, valued at approximately $50,340,453.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 487,782 shares of company stock valued at $64,046,807. Company insiders own 9.59% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in DoorDash by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock valued at $2,897,823,000 after purchasing an additional 2,259,976 shares in the last quarter. Baillie Gifford & Co. boosted its stake in DoorDash by 6.4% in the 4th quarter. Baillie Gifford & Co. now owns 12,775,622 shares of the company’s stock worth $1,263,381,000 after purchasing an additional 772,977 shares during the period. Capital World Investors increased its holdings in DoorDash by 0.6% during the 4th quarter. Capital World Investors now owns 9,395,743 shares of the company’s stock worth $929,145,000 after purchasing an additional 60,033 shares in the last quarter. First Trust Advisors LP raised its stake in shares of DoorDash by 45.6% in the 4th quarter. First Trust Advisors LP now owns 3,079,083 shares of the company’s stock valued at $304,490,000 after purchasing an additional 964,860 shares during the period. Finally, Norges Bank bought a new stake in shares of DoorDash in the fourth quarter valued at about $264,806,000. 90.64% of the stock is currently owned by institutional investors.

DoorDash Company Profile

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.