DoorDash (NASDAQ:DASH) PT Lowered to $118.00

DoorDash (NASDAQ:DASH - Get Free Report) had its price target decreased by equities researchers at Roth Mkm from $121.00 to $118.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a "neutral" rating on the stock. Roth Mkm's price objective suggests a potential upside of 3.23% from the company's current price.

A number of other equities analysts have also weighed in on DASH. Benchmark dropped their price target on shares of DoorDash from $165.00 to $150.00 and set a "buy" rating for the company in a research report on Thursday. Royal Bank of Canada dropped their price target on shares of DoorDash from $175.00 to $165.00 and set an "outperform" rating for the company in a research report on Thursday. JMP Securities dropped their price target on shares of DoorDash from $160.00 to $140.00 and set a "market outperform" rating for the company in a research report on Thursday. Wells Fargo & Company upped their price target on shares of DoorDash from $100.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 4th. Finally, Jefferies Financial Group upgraded shares of DoorDash from a "hold" rating to a "buy" rating and upped their price target for the stock from $90.00 to $130.00 in a research report on Monday, January 8th. Nine research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $129.40.

DoorDash Price Performance

NASDAQ DASH traded down $13.15 during trading hours on Thursday, reaching $114.31. 22,133,461 shares of the company's stock traded hands, compared to its average volume of 3,878,332. The firm has a market cap of $46.18 billion, a PE ratio of -78.87, a PEG ratio of 14.38 and a beta of 1.78. DoorDash has a 52-week low of $60.36 and a 52-week high of $143.34. The firm has a 50-day simple moving average of $132.16 and a 200 day simple moving average of $109.84.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. The firm had revenue of $2.51 billion during the quarter, compared to analysts' expectations of $2.45 billion. DoorDash had a negative net margin of 6.46% and a negative return on equity of 8.49%. The firm's quarterly revenue was up 23.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.41) earnings per share. Sell-side analysts forecast that DoorDash will post 0.21 EPS for the current fiscal year.

Insider Activity

In other news, Director Shona L. Brown sold 700 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $109.71, for a total value of $76,797.00. Following the sale, the director now owns 71,514 shares of the company's stock, valued at $7,845,800.94. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Shona L. Brown sold 703 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $133.09, for a total value of $93,562.27. Following the sale, the director now owns 70,811 shares of the company's stock, valued at $9,424,235.99. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Shona L. Brown sold 700 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $109.71, for a total transaction of $76,797.00. Following the completion of the sale, the director now directly owns 71,514 shares in the company, valued at approximately $7,845,800.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 487,782 shares of company stock valued at $64,046,807. 9.59% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DoorDash

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank bought a new position in shares of DoorDash in the fourth quarter worth about $264,806,000. Vanguard Group Inc. grew its holdings in shares of DoorDash by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company's stock worth $2,897,823,000 after purchasing an additional 2,259,976 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of DoorDash by 294.5% in the fourth quarter. Franklin Resources Inc. now owns 1,607,776 shares of the company's stock worth $158,993,000 after purchasing an additional 1,200,181 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of DoorDash by 1,725.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company's stock worth $110,082,000 after purchasing an additional 1,052,198 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in shares of DoorDash by 40,319.6% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,039,592 shares of the company's stock worth $102,805,000 after purchasing an additional 1,037,020 shares during the last quarter. Hedge funds and other 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.