Benchmark Has Lowered Expectations for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH) had its price target reduced by equities research analysts at Benchmark from $285.00 to $270.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s price target suggests a potential upside of 34.44% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Stifel Nicolaus lowered their price objective on DoorDash from $215.00 to $185.00 and set a “hold” rating on the stock in a research report on Monday, April 13th. Piper Sandler reduced their target price on shares of DoorDash from $220.00 to $205.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. DA Davidson lowered their price target on shares of DoorDash from $224.00 to $200.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Moffett Nathanson set a $276.00 price objective on DoorDash in a research note on Wednesday, April 15th. Finally, Argus set a $190.00 price objective on shares of DoorDash in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.47.

DoorDash Stock Performance

DoorDash stock traded up $4.68 during trading hours on Monday, hitting $200.84. The company had a trading volume of 605,742 shares, compared to its average volume of 4,763,045. The firm has a market cap of $87.51 billion, a PE ratio of 95.23 and a beta of 1.78. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43. DoorDash has a one year low of $143.30 and a one year high of $285.50. The firm has a 50-day moving average of $175.61 and a 200 day moving average of $174.64.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. The company had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The firm’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.44 earnings per share. On average, sell-side analysts expect that DoorDash will post 2.39 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Shona L. Brown sold 582 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $177.06, for a total value of $103,048.92. Following the sale, the director directly owned 31,156 shares in the company, valued at approximately $5,516,481.36. This trade represents a 1.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ravi Inukonda sold 19,095 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $188.04, for a total transaction of $3,590,623.80. Following the transaction, the chief financial officer owned 252,443 shares of the company’s stock, valued at approximately $47,469,381.72. This represents a 7.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 74,927 shares of company stock worth $13,241,532 in the last quarter. Corporate insiders own 5.83% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. MV Capital Management Inc. acquired a new position in DoorDash in the 4th quarter worth about $26,000. Swiss RE Ltd. bought a new position in DoorDash in the fourth quarter valued at about $28,000. ST Germain D J Co. Inc. acquired a new stake in shares of DoorDash during the fourth quarter valued at about $29,000. Kemnay Advisory Services Inc. acquired a new stake in shares of DoorDash during the fourth quarter valued at about $32,000. Finally, Sunbelt Securities Inc. grew its holdings in shares of DoorDash by 124.1% during the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock worth $33,000 after purchasing an additional 67 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

About DoorDash

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.