Roth Mkm Lowers DoorDash (NASDAQ:DASH) Price Target to $118.00

DoorDash (NASDAQ:DASH) had its price objective reduced by Roth Mkm from $121.00 to $118.00 in a research note released on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of DoorDash from $140.00 to $155.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. Benchmark cut their price target on DoorDash from $165.00 to $150.00 and set a buy rating for the company in a research note on Thursday. The Goldman Sachs Group boosted their target price on shares of DoorDash from $109.00 to $122.00 and gave the stock a neutral rating in a research note on Friday, February 16th. Loop Capital initiated coverage on shares of DoorDash in a research report on Friday, April 19th. They issued a buy rating and a $170.00 target price for the company. Finally, Morgan Stanley raised DoorDash from an equal weight rating to an overweight rating and raised their target price for the stock from $135.00 to $145.00 in a research note on Thursday, February 22nd. Nine research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $129.96.

DoorDash Stock Performance

Shares of DASH traded down $0.50 during midday trading on Thursday, hitting $113.81. 6,210,790 shares of the company traded hands, compared to its average volume of 4,293,060. The stock has a market cap of $45.98 billion, a price-to-earnings ratio of -105.38, a PEG ratio of 13.07 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 moving average of $131.86 and a 200-day moving average of $110.13.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.45 billion. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The firm’s revenue was up 23.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.41) EPS. Sell-side analysts predict that DoorDash will post 0.17 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Shona L. Brown sold 700 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $109.71, for a total value of $76,797.00. Following the transaction, the director now owns 71,514 shares in the company, valued at approximately $7,845,800.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Shona L. Brown sold 700 shares of the company’s stock in a transaction dated 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 owns 71,514 shares of the company’s stock, valued at $7,845,800.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tony Xu sold 132,300 shares of DoorDash stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $131.96, for a total value of $17,458,308.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 487,782 shares of company stock valued at $64,046,807. 9.59% of the stock is owned by company insiders.

Institutional Investors Weigh In On DoorDash

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in 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 acquiring an additional 2,259,976 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of DoorDash by 6.4% during the 4th quarter. Baillie Gifford & Co. now owns 12,775,622 shares of the company’s stock valued at $1,263,381,000 after purchasing an additional 772,977 shares during the last quarter. Capital World Investors raised its position in DoorDash by 0.6% in the fourth quarter. Capital World Investors now owns 9,395,743 shares of the company’s stock worth $929,145,000 after acquiring an additional 60,033 shares during the period. First Trust Advisors LP lifted its stake in DoorDash by 45.6% in the fourth quarter. First Trust Advisors LP now owns 3,079,083 shares of the company’s stock valued at $304,490,000 after purchasing an additional 964,860 shares during the last quarter. Finally, Norges Bank bought a new position in shares of DoorDash during the 4th quarter worth $264,806,000. 90.64% of the stock is owned by institutional investors.

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.