DoorDash (NASDAQ:DASH) Price Target Cut to $150.00

DoorDash (NASDAQ:DASH) had its price target reduced by stock analysts at Benchmark from $165.00 to $150.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s price target suggests a potential upside of 31.80% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. BMO Capital Markets lifted their price target on shares of DoorDash from $120.00 to $138.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Piper Sandler upgraded shares of DoorDash from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $53.00 to $127.00 in a report on Friday, March 15th. Jefferies Financial Group raised DoorDash from a “hold” rating to a “buy” rating and raised their price objective for the company from $90.00 to $130.00 in a report on Monday, January 8th. Mizuho upped their target price on DoorDash from $140.00 to $152.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, Truist Financial lifted their price target on DoorDash from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Nine analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, DoorDash currently has an average rating of “Moderate Buy” and a consensus target price of $129.96.

DoorDash Price Performance

NASDAQ:DASH traded down $0.50 during trading hours on Thursday, reaching $113.81. 6,210,790 shares of the company were exchanged, compared to its average volume of 4,293,060. The company 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. The business has a 50 day moving average of $131.86 and a 200 day moving average of $110.13. DoorDash has a 1-year low of $60.36 and a 1-year high of $143.34.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.06) earnings per share for the quarter, topping 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 6.28%. The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same quarter in the prior year, the business posted ($0.41) earnings per share. DoorDash’s revenue was up 23.5% compared to the same quarter last year. As a group, equities research analysts anticipate that DoorDash will post 0.21 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In other DoorDash news, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $130.95, for a total value of $916,650.00. Following the transaction, the chief financial officer now directly owns 384,425 shares in the company, valued at $50,340,453.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Tony Xu sold 132,300 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $133.51, for a total transaction of $17,663,373.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $130.95, for a total value of $916,650.00. Following the completion of the sale, the chief financial officer now owns 384,425 shares in the company, valued at $50,340,453.75. The disclosure for this sale can be found here. Insiders have sold 487,782 shares of company stock worth $64,046,807 in the last ninety days. Company insiders own 9.59% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Hedge funds and other institutional investors have recently bought and sold shares of the business. Spire Wealth Management purchased a new position in DoorDash during the 1st quarter valued at about $25,000. Fifth Third Bancorp boosted its position in shares of DoorDash by 448.8% in the third quarter. Fifth Third Bancorp now owns 439 shares of the company’s stock valued at $35,000 after acquiring an additional 359 shares during the period. Venturi Wealth Management LLC grew its stake in 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 acquiring an additional 90 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in DoorDash by 361.2% during the 4th quarter. Parkside Financial Bank & Trust now owns 392 shares of the company’s stock worth $39,000 after acquiring an additional 307 shares during the period. Finally, Covestor Ltd increased its holdings in DoorDash by 101.2% during the 3rd quarter. Covestor Ltd now owns 503 shares of the company’s stock worth $40,000 after acquiring an additional 253 shares during the period. 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.