Susquehanna Issues Pessimistic Forecast for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH) had its price target cut by equities researchers at Susquehanna from $300.00 to $250.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna’s price target would indicate a potential upside of 25.96% from the company’s current price.

Other research analysts have also issued reports about the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of DoorDash in a research note on Wednesday, October 8th. Bank of America reduced their price target on DoorDash from $325.00 to $305.00 and set a “buy” rating for the company in a report on Thursday. Wells Fargo & Company dropped their price objective on DoorDash from $301.00 to $239.00 and set an “equal weight” rating on the stock in a report on Thursday. Wall Street Zen cut DoorDash from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Piper Sandler boosted their target price on shares of DoorDash from $210.00 to $290.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, DoorDash currently has an average rating of “Moderate Buy” and an average price target of $281.68.

DoorDash Stock Performance

Shares of DASH stock traded up $2.02 during midday trading on Friday, hitting $198.48. The company had a trading volume of 3,908,487 shares, compared to its average volume of 4,401,642. The stock has a market cap of $84.79 billion, a price-to-earnings ratio of 100.78 and a beta of 1.70. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. The company’s 50 day simple moving average is $259.57 and its 200 day simple moving average is $237.02. DoorDash has a 52-week low of $155.40 and a 52-week high of $285.50.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). The firm had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.35 billion. DoorDash had a net margin of 6.83% and a return on equity of 10.31%. The business’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter last year, the business earned $0.38 earnings per share. Research analysts anticipate that DoorDash will post 2.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other DoorDash news, COO Prabir Adarkar sold 41,881 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the completion of the sale, the chief operating officer directly owned 914,547 shares in the company, valued at $224,813,943.54. This represents a 4.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Tony Xu sold 291,403 shares of DoorDash stock in a transaction that occurred on Wednesday, August 20th. The shares were 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 approximately $54,556,704.93. This trade represents a 55.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 876,527 shares of company stock valued at $218,129,954 in the last quarter. 5.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DoorDash

A number of institutional investors have recently added to or reduced their stakes in DASH. Saudi Central Bank purchased a new position in shares of DoorDash during the 1st quarter valued at approximately $25,000. WPG Advisers LLC bought a new stake in shares of DoorDash in the 1st quarter worth about $26,000. Physician Wealth Advisors Inc. lifted its position in shares of DoorDash by 284.0% during the third quarter. Physician Wealth Advisors Inc. now owns 96 shares of the company’s stock worth $26,000 after purchasing an additional 71 shares during the last quarter. Pacific Center for Financial Services acquired a new position in DoorDash in the first quarter worth about $27,000. Finally, GFG Capital LLC bought a new stake in DoorDash in the second quarter valued at about $30,000. Institutional investors and hedge funds 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.