Cantor Fitzgerald Has Lowered Expectations for DoorDash (NASDAQ:DASH) Stock Price

Key Points

• Cantor Fitzgerald lowered DoorDash’s price target from $260 to $240 while maintaining an “overweight” rating, implying 22.14% potential upside from the reported $196.50 share price.
• Analyst sentiment remains broadly positive: DoorDash has an average “Moderate Buy” rating and a consensus price target of $254.95, with 33 analysts rating it Buy or Strong Buy.
• DoorDash reported quarterly revenue of $4.45 billion, up 35.6% year over year and above estimates, though EPS of $0.46 slightly missed expectations. Directors also sold shares under pre-arranged trading plans, contributing to $85.7 million in insider sales over the past 90 days.

DoorDash (NASDAQ:DASH - Get Free Report) had its price target decreased by analysts at Cantor Fitzgerald from $260.00 to $240.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Cantor Fitzgerald's target price points to a potential upside of 22.14% from the company's current price.

Several other equities analysts also recently issued reports on DASH. Scotiabank started coverage on shares of DoorDash in a report on Wednesday, September 9th. They set a "sector outperform" rating and a $275.00 price target for the company. Roth Capital upped their price objective on shares of DoorDash from $200.00 to $220.00 and gave the stock a "neutral" rating in a research note on Monday, August 10th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of DoorDash in a report on Friday, August 7th. Susquehanna raised their price objective on shares of DoorDash from $225.00 to $250.00 and gave the stock a "positive" rating in a report on Friday, August 7th. Finally, Rosenblatt Securities started coverage on shares of DoorDash in a research note on Tuesday, September 1st. They issued a "buy" rating and a $270.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, DoorDash presently has an average rating of "Moderate Buy" and an average target price of $254.95.

DoorDash Price Performance

Shares of DASH stock opened at $196.50 on Monday. The stock's fifty day simple moving average is $206.56 and its 200 day simple moving average is $182.78. DoorDash has a one year low of $143.30 and a one year high of $285.50. The firm has a market cap of $85.14 billion, a price-to-earnings ratio of 102.88 and a beta of 1.90. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). The company had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.34 billion. DoorDash had a return on equity of 8.48% and a net margin of 5.29%. The business's revenue was up 35.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.65 earnings per share. On average, analysts expect that DoorDash will post 2.51 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In other news, Director Stanley Tang sold 23,125 shares of the stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $186.19, for a total transaction of $4,305,643.75. Following the sale, the director directly owned 10,361 shares of the company's stock, valued at $1,929,114.59. This represents a 69.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andy Fang sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $183.69, for a total transaction of $918,450.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 392,981 shares of company stock worth $85,663,015. Corporate insiders own 44.90% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DASH. SC US Ttgp LTD. grew its stake in DoorDash by 1.6% in the fourth quarter. SC US Ttgp LTD. now owns 31,686,624 shares of the company's stock valued at $7,176,387,000 after acquiring an additional 506,358 shares during the period. Janus Henderson Group PLC raised its position in shares of DoorDash by 8.4% during the fourth quarter. Janus Henderson Group PLC now owns 5,536,599 shares of the company's stock worth $1,247,961,000 after purchasing an additional 427,031 shares during the period. Sands Capital Management LLC raised its position in shares of DoorDash by 11.8% during the fourth quarter. Sands Capital Management LLC now owns 4,496,607 shares of the company's stock worth $1,018,392,000 after purchasing an additional 473,316 shares during the period. Temasek Holdings Private Ltd lifted its holdings in shares of DoorDash by 49.4% during the 1st quarter. Temasek Holdings Private Ltd now owns 3,461,501 shares of the company's stock valued at $519,744,000 after purchasing an additional 1,145,078 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of DoorDash by 18.4% during the 1st quarter. Bank of America Corp DE now owns 3,449,266 shares of the company's stock valued at $517,907,000 after purchasing an additional 536,080 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors.

DoorDash Company Profile

DoorDash, Inc is a technology company that operates a local commerce platform connecting consumers with restaurants, grocery stores, convenience retailers and other merchants. Through its DoorDash app and website, customers can discover businesses, place orders for delivery or pickup, and access related services. The company also provides merchants with tools for online ordering, logistics, customer engagement, advertising and business analytics.

DoorDash generates additional activity through subscription programs such as DashPass, which provides participating customers with delivery-related benefits, and through its logistics and commerce solutions for merchants.

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