Mizuho Cuts DoorDash (NASDAQ:DASH) Price Target to $255.00

DoorDash (NASDAQ:DASHFree Report) had its price objective reduced by Mizuho from $320.00 to $255.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts also recently commented on DASH. Susquehanna reduced their price objective on shares of DoorDash from $300.00 to $250.00 and set a “positive” rating on the stock in a research note on Friday, November 7th. Needham & Company LLC decreased their target price on DoorDash from $275.00 to $265.00 and set a “buy” rating for the company in a research report on Thursday, February 19th. Royal Bank Of Canada lowered their price target on DoorDash from $300.00 to $270.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Wells Fargo & Company dropped their price target on DoorDash from $251.00 to $221.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 19th. Finally, Zacks Research raised shares of DoorDash from a “strong sell” rating to a “hold” rating in a report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $262.82.

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DoorDash Price Performance

Shares of NASDAQ DASH opened at $183.37 on Tuesday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.27. DoorDash has a fifty-two week low of $155.40 and a fifty-two week high of $285.50. The business has a 50 day moving average price of $197.64 and a two-hundred day moving average price of $226.13. The firm has a market cap of $79.66 billion, a PE ratio of 86.50 and a beta of 1.82.

DoorDash (NASDAQ:DASHGet Free Report) last announced its earnings results on Wednesday, February 18th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.10). DoorDash had a net margin of 6.82% and a return on equity of 10.15%. The business had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.98 billion. During the same period in the previous year, the company earned $0.33 earnings per share. The business’s revenue for the quarter was up 37.7% on a year-over-year basis. Sell-side analysts expect that DoorDash will post 2.22 earnings per share for the current fiscal year.

Insider Activity at DoorDash

In other news, COO Prabir Adarkar sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $204.59, for a total transaction of $3,068,850.00. Following the completion of the transaction, the chief operating officer directly owned 874,130 shares in the company, valued at approximately $178,838,256.70. The trade was a 1.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Ravi Inukonda sold 1,017 shares of the stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $215.14, for a total transaction of $218,797.38. Following the completion of the transaction, the chief financial officer owned 208,412 shares of the company’s stock, valued at $44,837,757.68. This represents a 0.49% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 220,826 shares of company stock valued at $48,944,946. Company insiders own 5.83% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DASH. Physician Wealth Advisors Inc. boosted its stake in DoorDash by 284.0% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 96 shares of the company’s stock valued at $26,000 after purchasing an additional 71 shares in the last quarter. MV Capital Management Inc. bought a new stake in shares of DoorDash in the 4th quarter worth $26,000. Eastern Bank lifted its holdings in shares of DoorDash by 714.3% in the fourth quarter. Eastern Bank now owns 114 shares of the company’s stock valued at $26,000 after buying an additional 100 shares during the period. Sunbelt Securities Inc. boosted its stake in DoorDash by 124.1% during the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock valued at $33,000 after buying an additional 67 shares in the last quarter. Finally, Swiss RE Ltd. bought a new position in DoorDash during the fourth quarter valued at about $28,000. Institutional investors and hedge funds own 90.64% of the company’s stock.

Key Stories Impacting DoorDash

Here are the key news stories impacting DoorDash this week:

About DoorDash

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DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.

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Analyst Recommendations for DoorDash (NASDAQ:DASH)

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