BMO Capital Markets Cuts DoorDash (NASDAQ:DASH) Price Target to $127.00

DoorDash (NASDAQ:DASH) had its price target reduced by BMO Capital Markets from $138.00 to $127.00 in a report published on Thursday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

DASH has been the subject of a number of other reports. The Goldman Sachs Group raised their price objective on shares of DoorDash from $109.00 to $122.00 and gave the stock a neutral rating in a report on Friday, February 16th. Wells Fargo & Company lifted their price objective on shares of DoorDash from $100.00 to $125.00 and gave the stock an equal weight rating in a research note on Thursday, April 4th. 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 report on Tuesday, April 16th. Oppenheimer upped their price objective on shares of DoorDash from $140.00 to $150.00 and gave the company an outperform rating in a report on Monday, April 29th. Finally, Roth Mkm boosted their target price on shares of DoorDash from $92.00 to $109.00 and gave the company a neutral rating in a research report on Friday, January 19th. Nine investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, DoorDash presently has a consensus rating of Moderate Buy and an average target price of $129.96.

DoorDash Trading Down 0.4 %

DASH stock traded down $0.50 during trading on Thursday, reaching $113.81. The stock had a trading volume of 6,210,790 shares, compared to its average volume of 4,293,060. The firm has a fifty day moving average price of $131.86 and a 200 day moving average price of $110.13. The company has a market capitalization of $45.98 billion, a P/E ratio of -105.38, a PEG ratio of 13.07 and a beta of 1.78. DoorDash has a 1-year low of $60.36 and a 1-year high of $143.34.

DoorDash (NASDAQ:DASH) last released its 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 business had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.45 billion. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The business’s quarterly revenue was up 23.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.41) earnings per share. Sell-side analysts predict that DoorDash will post 0.17 EPS for the current year.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Andy Fang sold 67,000 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $110.57, for a total transaction of $7,408,190.00. Following the sale, the director now owns 40,969 shares in the company, valued at approximately $4,529,942.33. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Andy Fang sold 67,000 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $110.57, for a total value of $7,408,190.00. Following the completion of the transaction, the director now directly owns 40,969 shares of the company’s stock, valued at $4,529,942.33. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Keith Yandell sold 3,500 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $124.50, for a total value of $435,750.00. Following the transaction, the insider now owns 161,102 shares of the company’s stock, valued at $20,057,199. The disclosure for this sale can be found here. In the last three months, insiders sold 487,782 shares of company stock valued at $64,046,807. 9.59% of the stock is owned by insiders.

Hedge Funds Weigh In On DoorDash

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Simplicity Solutions LLC lifted its holdings in shares of DoorDash by 7.0% during the 3rd quarter. Simplicity Solutions LLC now owns 4,375 shares of the company’s stock valued at $348,000 after purchasing an additional 285 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of DoorDash by 2.1% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 57,300 shares of the company’s stock worth $4,554,000 after purchasing an additional 1,200 shares during the last quarter. SVB Wealth LLC raised its holdings in shares of DoorDash by 17.0% in the 3rd quarter. SVB Wealth LLC now owns 10,043 shares of the company’s stock valued at $798,000 after purchasing an additional 1,458 shares during the period. Xponance Inc. raised its holdings in shares of DoorDash by 4.3% in the 3rd quarter. Xponance Inc. now owns 36,951 shares of the company’s stock valued at $2,936,000 after purchasing an additional 1,517 shares during the period. Finally, Raymond James & Associates raised its holdings in shares of DoorDash by 62.3% in the 3rd quarter. Raymond James & Associates now owns 12,551 shares of the company’s stock valued at $997,000 after purchasing an additional 4,820 shares during the period. 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.