DoorDash (NASDAQ:DASH) Given New $140.00 Price Target at JMP Securities

DoorDash (NASDAQ:DASH) had its target price reduced by research analysts at JMP Securities from $160.00 to $140.00 in a report released on Thursday, Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price objective indicates a potential upside of 25.15% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Needham & Company LLC reiterated a “buy” rating and issued a $137.00 price target on shares of DoorDash in a research report on Thursday. Benchmark dropped their target price on shares of DoorDash from $165.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday. Royal Bank of Canada reduced their target price on shares of DoorDash from $175.00 to $165.00 and set an “outperform” rating for the company in a report on Thursday. Wells Fargo & Company upped their price target on DoorDash from $100.00 to $125.00 and gave the company an “equal weight” rating in a report on Thursday, April 4th. Finally, Oppenheimer increased their price objective on DoorDash from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday. Nine research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $129.04.

DoorDash Price Performance

Shares of NASDAQ DASH traded down $15.59 during mid-day trading on Thursday, reaching $111.87. 12,366,259 shares of the company traded hands, compared to its average volume of 3,759,691. DoorDash has a fifty-two week low of $60.36 and a fifty-two week high of $143.34. The firm has a market cap of $45.20 billion, a PE ratio of -78.01, a price-to-earnings-growth ratio of 14.38 and a beta of 1.78. The stock has a fifty day simple moving average of $132.16 and a 200-day simple moving average of $109.84.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. DoorDash had a negative return on equity of 8.49% and a negative net margin of 6.46%. The company had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.45 billion. During the same period last year, the firm earned ($0.41) EPS. The firm’s revenue for the quarter was up 23.5% on a year-over-year basis. As a group, analysts predict that DoorDash will post 0.21 EPS for the current fiscal year.

Insider Transactions at DoorDash

In related news, CEO Tony Xu sold 132,300 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was 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 Securities & Exchange Commission, which is available at this hyperlink. In other news, 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Andy Fang sold 67,000 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $110.57, for a total transaction of $7,408,190.00. Following the completion of the sale, the director now owns 40,969 shares of the company’s stock, valued at $4,529,942.33. The disclosure for this sale can be found here. Insiders sold 480,782 shares of company stock valued at $63,130,157 in the last three months. Corporate insiders own 9.59% of the company’s stock.

Institutional Inflows and Outflows

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