DoorDash (NASDAQ:DASH) Downgraded to Hold Rating by 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 note issued to investors on Friday.

A number of other analysts have also weighed in on the company. UBS Group dropped their price objective on DoorDash from $197.00 to $196.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Susquehanna upped their target price on DoorDash from $180.00 to $235.00 and gave the company a "positive" rating in a report on Thursday, February 13th. JPMorgan Chase & Co. decreased their target price on DoorDash from $205.00 to $175.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. KeyCorp decreased their target price on DoorDash from $240.00 to $230.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Finally, Benchmark upped their target price on DoorDash from $220.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Eleven analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $209.97.

DoorDash Stock Performance

DASH traded up $1.56 during midday trading on Friday, hitting $206.14. The stock had a trading volume of 4,853,384 shares, compared to its average volume of 4,206,465. The company has a market cap of $87.35 billion, a P/E ratio of 763.48 and a beta of 1.68. The business has a fifty day moving average of $189.04 and a 200 day moving average of $184.90. DoorDash has a 1 year low of $99.32 and a 1 year high of $215.25.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.05. The business had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.10 billion. DoorDash had a return on equity of 1.67% and a net margin of 1.15%. DoorDash's revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. On average, equities research analysts anticipate that DoorDash will post 2.22 earnings per share for the current year.

Insider Activity

In related news, insider Keith Yandell sold 5,410 shares of DoorDash stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $204.53, for a total transaction of $1,106,507.30. Following the completion of the sale, the insider now owns 104,922 shares in the company, valued at $21,459,696.66. This trade represents a 4.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Ravi Inukonda sold 14,296 shares of DoorDash stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $205.54, for a total transaction of $2,938,399.84. Following the sale, the chief financial officer now owns 380,037 shares of the company's stock, valued at $78,112,804.98. The trade was a 3.63% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 222,736 shares of company stock valued at $43,334,336. 5.83% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DoorDash

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DASH. Saudi Central Bank bought a new stake in DoorDash during the 1st quarter valued at $25,000. WPG Advisers LLC purchased a new position in shares of DoorDash during the first quarter valued at $26,000. Pacific Center for Financial Services bought a new stake in shares of DoorDash in the first quarter valued at about $27,000. Pittenger & Anderson Inc. purchased a new stake in DoorDash in the fourth quarter worth about $29,000. Finally, Denver PWM LLC purchased a new stake in DoorDash in the fourth quarter worth about $30,000. Institutional investors 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.