JPMorgan Chase & Co. Lowers DoorDash (NASDAQ:DASH) Price Target to $300.00

DoorDash (NASDAQ:DASH) had its price objective reduced by equities researchers at JPMorgan Chase & Co. from $325.00 to $300.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 52.70% from the stock’s current price.

Several other brokerages have also weighed in on DASH. Morgan Stanley lifted their price target on DoorDash from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. KeyCorp reiterated an “overweight” rating and set a $325.00 price objective (up from $295.00) on shares of DoorDash in a research note on Thursday, August 7th. Stifel Nicolaus cut their price objective on DoorDash from $255.00 to $253.00 and set a “hold” rating for the company in a research note on Thursday. Needham & Company LLC set a $300.00 price objective on DoorDash and gave the stock a “buy” rating in a research note on Thursday, August 7th. Finally, Cantor Fitzgerald cut their price objective on DoorDash from $330.00 to $270.00 and set an “overweight” rating for the company in a research note on Thursday. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $283.15.

DoorDash Price Performance

Shares of DoorDash stock traded down $41.54 on Thursday, hitting $196.46. The company’s stock had a trading volume of 18,326,735 shares, compared to its average volume of 4,405,472. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. DoorDash has a 1 year low of $155.40 and a 1 year high of $285.50. The firm has a fifty day moving average price of $260.58 and a 200-day moving average price of $237.30. The company has a market capitalization of $83.93 billion, a price-to-earnings ratio of 109.15 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.13). DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The business had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. DoorDash’s revenue for the quarter was up 27.3% on a year-over-year basis. As a group, sell-side analysts anticipate that DoorDash will post 2.22 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In other news, CEO Tony Xu sold 291,403 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total transaction of $69,409,280.57. Following the transaction, the chief executive officer directly owned 229,047 shares in the company, valued at $54,556,704.93. The trade was a 55.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Prabir Adarkar sold 41,881 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $245.82, for a total value of $10,295,187.42. Following the transaction, the chief operating officer owned 914,547 shares in the company, valued at approximately $224,813,943.54. This represents a 4.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 876,527 shares of company stock worth $218,129,954 in the last ninety days. Insiders own 5.83% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Night Squared LP acquired a new position in DoorDash in the first quarter valued at approximately $2,780,000. Mutual of America Capital Management LLC acquired a new position in DoorDash in the first quarter valued at approximately $7,200,000. Public Investment Fund lifted its holdings in DoorDash by 68.3% in the first quarter. Public Investment Fund now owns 821,389 shares of the company’s stock valued at $150,125,000 after acquiring an additional 333,369 shares during the last quarter. Ardmore Road Asset Management LP lifted its holdings in DoorDash by 6.7% in the first quarter. Ardmore Road Asset Management LP now owns 80,000 shares of the company’s stock valued at $14,622,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Junto Capital Management LP acquired a new position in DoorDash in the first quarter valued at approximately $29,261,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.