DoorDash (NASDAQ:DASH) Rating Lowered to Hold at Wall Street Zen

Wall Street Zen lowered shares of DoorDash (NASDAQ:DASH - Free Report) from a buy rating to a hold rating in a research report released on Friday morning.

Several other brokerages have also recently weighed in on DASH. Morgan Stanley lowered their target price on DoorDash from $245.00 to $210.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. JPMorgan Chase & Co. lowered their target price on DoorDash from $205.00 to $175.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Roth Capital boosted their target price on DoorDash from $191.00 to $225.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Cantor Fitzgerald restated an "overweight" rating and set a $260.00 target price (up from $210.00) on shares of DoorDash in a report on Wednesday, June 25th. Finally, Jefferies Financial Group restated a "hold" rating and set a $250.00 target price (up from $235.00) on shares of DoorDash in a report on Tuesday, July 15th. Twelve investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $226.97.

DoorDash Trading Up 1.8%

Shares of NASDAQ DASH traded up $4.15 during midday trading on Friday, hitting $239.17. The company's stock had a trading volume of 3,407,442 shares, compared to its average volume of 4,201,299. The business's 50 day moving average is $221.73 and its two-hundred day moving average is $198.59. DoorDash has a 12-month low of $99.32 and a 12-month high of $248.74. The firm has a market cap of $101.35 billion, a P/E ratio of 310.61 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.10 billion. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. DoorDash's quarterly revenue was up 20.7% on a year-over-year basis. During the same period last year, the business posted ($0.06) EPS. On average, analysts predict that DoorDash will post 2.22 earnings per share for the current fiscal year.

Insider Activity at DoorDash

In other DoorDash news, COO Prabir Adarkar sold 62,267 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $202.67, for a total value of $12,619,652.89. Following the completion of the transaction, the chief operating officer directly owned 942,554 shares of the company's stock, valued at approximately $191,027,419.18. This trade represents a 6.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Stanley Tang sold 45,410 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the transaction, the director directly owned 26,070 shares of the company's stock, valued at approximately $6,274,788.30. This trade represents a 63.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 463,198 shares of company stock valued at $102,674,831. 5.83% of the stock is currently owned by corporate insiders.

Institutional Trading of DoorDash

A number of hedge funds have recently bought and sold shares of DASH. Saudi Central Bank acquired a new position in shares of DoorDash during the 1st quarter valued at $25,000. WPG Advisers LLC acquired a new position in shares of DoorDash during the 1st quarter valued at $26,000. Pacific Center for Financial Services acquired a new position in shares of DoorDash during the 1st quarter valued at $27,000. Harbour Investments Inc. increased its stake in DoorDash by 55.6% during the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company's stock worth $36,000 after buying an additional 70 shares during the period. Finally, SouthState Corp increased its stake in DoorDash by 762.5% during the 1st quarter. SouthState Corp now owns 207 shares of the company's stock worth $38,000 after buying an additional 183 shares during the period. Institutional investors and hedge funds own 90.64% of the company's stock.

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.