Benchmark Cuts DoorDash (NASDAQ:DASH) Price Target to $270.00

Key Points

• Benchmark lowered DoorDash’s price target from $285 to $270 but maintained a “Buy” rating, implying approximately 34.4% upside from the stock’s quoted price.
• Analyst sentiment remains broadly positive: DoorDash has an overall “Moderate Buy” rating and an average price target of $252.47, based on 24 Buy, nine Hold, one Strong Buy and one Sell rating.
• DoorDash’s latest quarterly results exceeded EPS expectations at $0.42 versus $0.36, while revenue rose 33.1% year over year to $4.04 billion, slightly below analysts’ $4.15 billion estimate.

DoorDash (NASDAQ:DASH - Get Free Report) had its target price reduced by research analysts at Benchmark from $285.00 to $270.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Benchmark's price objective would indicate a potential upside of 34.44% from the company's current price.

DASH has been the subject of several other research reports. UBS Group increased their target price on shares of DoorDash from $206.00 to $214.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Susquehanna cut their price target on shares of DoorDash from $250.00 to $225.00 and set a "positive" rating on the stock in a research report on Friday, May 8th. DA Davidson reduced their price objective on shares of DoorDash from $224.00 to $200.00 and set a "neutral" rating for the company in a research note on Thursday, May 7th. Weiss Ratings upgraded DoorDash from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, May 13th. Finally, The Goldman Sachs Group set a $280.00 target price on DoorDash in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, DoorDash presently has an average rating of "Moderate Buy" and an average price target of $252.47.

DoorDash Stock Up 2.4%

DASH stock traded up $4.68 during trading hours on Monday, reaching $200.84. 605,742 shares of the stock were exchanged, compared to its average volume of 4,763,045. The firm's 50-day moving average is $175.61 and its 200-day moving average is $174.64. The company has a market cap of $87.51 billion, a price-to-earnings ratio of 95.23 and a beta of 1.78. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43. DoorDash has a 12 month low of $143.30 and a 12 month high of $285.50.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.06. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The company had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period in the previous year, the company posted $0.44 earnings per share. The company's quarterly revenue was up 33.1% compared to the same quarter last year. On average, equities research analysts expect that DoorDash will post 2.39 earnings per share for the current year.

Insider Activity

In other news, Director Stanley Tang sold 23,125 shares of DoorDash stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $191.19, for a total value of $4,421,268.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 dated Wednesday, June 24th. The stock was sold at an average price of $180.00, for a total transaction of $900,000.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 74,927 shares of company stock valued at $13,241,532. 5.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DoorDash

A number of hedge funds and other institutional investors have recently bought and sold shares of DASH. Brighton Jones LLC boosted its stake in shares of DoorDash by 24.0% during the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after acquiring an additional 1,807 shares during the period. Integrated Wealth Concepts LLC increased its holdings in shares of DoorDash by 21.5% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,715 shares of the company's stock worth $314,000 after acquiring an additional 303 shares during the last quarter. Empowered Funds LLC raised its stake in DoorDash by 3.6% in the 1st quarter. Empowered Funds LLC now owns 8,130 shares of the company's stock valued at $1,486,000 after acquiring an additional 285 shares during the period. Sivia Capital Partners LLC raised its stake in DoorDash by 92.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,255 shares of the company's stock valued at $1,049,000 after acquiring an additional 2,049 shares during the period. Finally, Baird Financial Group Inc. acquired a new stake in DoorDash during the 2nd quarter valued at $222,000. Institutional investors own 90.64% of the company's stock.

DoorDash Company Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company's core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.