DoorDash (NASDAQ:DASH) Price Target Cut to $240.00 by Analysts at Cantor Fitzgerald

DoorDash (NASDAQ:DASH) had its price objective reduced by Cantor Fitzgerald from $260.00 to $240.00 in a research report sent to investors on Monday, MarketBeat.com reports. They currently have an overweight rating on the stock.

Other research analysts have also recently issued reports about the stock. UBS Group reiterated a “buy” rating and set a $295.00 target price on shares of DoorDash in a report on Tuesday, September 8th. Truist Financial boosted their price target on shares of DoorDash from $330.00 to $336.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Roth Capital boosted their price target on shares of DoorDash from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Guggenheim reaffirmed a “buy” rating and issued a $255.00 price target on shares of DoorDash in a research report on Tuesday, June 23rd. Finally, Scotiabank assumed coverage on shares of DoorDash in a research report on Wednesday, September 9th. They issued a “sector outperform” rating and a $275.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $254.95.

DoorDash Price Performance

Shares of DASH stock opened at $194.24 on Monday. DoorDash has a twelve month low of $143.30 and a twelve month high of $285.50. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. The stock has a fifty day simple moving average of $206.43 and a two-hundred day simple moving average of $183.06. The stock has a market capitalization of $84.16 billion, a price-to-earnings ratio of 101.70 and a beta of 1.90.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). The firm had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.34 billion. DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The business’s quarterly revenue was up 35.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.65 EPS. On average, analysts predict that DoorDash will post 2.51 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Ravi Inukonda sold 19,505 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $220.62, for a total value of $4,303,193.10. Following the sale, the chief financial officer directly owned 232,938 shares in the company, valued at approximately $51,390,781.56. This trade represents a 7.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Prabir Adarkar sold 55,289 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $231.76, for a total transaction of $12,813,778.64. Following the completion of the sale, the chief operating officer owned 930,211 shares in the company, valued at $215,585,701.36. This represents a 5.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 392,981 shares of company stock valued at $85,663,015 in the last three months. 44.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DoorDash

A number of hedge funds and other institutional investors have recently bought and sold shares of DASH. JCP Investment Management LLC purchased a new position in shares of DoorDash in the 1st quarter valued at approximately $991,000. Plato Investment Management Ltd purchased a new stake in DoorDash during the 2nd quarter worth approximately $1,024,000. Quantinno Capital Management LP grew its position in DoorDash by 4.9% during the 1st quarter. Quantinno Capital Management LP now owns 655,095 shares of the company’s stock worth $98,363,000 after purchasing an additional 30,881 shares during the last quarter. Monetta Financial Services Inc. acquired a new position in DoorDash during the 2nd quarter valued at approximately $1,015,000. Finally, Empirical Finance LLC acquired a new position in DoorDash during the 2nd quarter valued at approximately $2,644,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

About DoorDash

DoorDash, Inc is a technology company that operates a local commerce platform connecting consumers with restaurants, grocery stores, convenience retailers and other merchants. Through its DoorDash app and website, customers can discover businesses, place orders for delivery or pickup, and access related services. The company also provides merchants with tools for online ordering, logistics, customer engagement, advertising and business analytics.

DoorDash generates additional activity through subscription programs such as DashPass, which provides participating customers with delivery-related benefits, and through its logistics and commerce solutions for merchants.