Bank of America Has Lowered Expectations for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH) had its target price decreased by investment analysts at Bank of America from $325.00 to $305.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price target indicates a potential upside of 49.28% from the company’s previous close.

Several other equities research analysts also recently weighed in on the company. Citigroup reissued an “outperform” rating on shares of DoorDash in a report on Thursday, August 7th. Mizuho set a $350.00 price objective on shares of DoorDash and gave the company an “outperform” rating in a research note on Monday, September 29th. UBS Group reiterated a “buy” rating on shares of DoorDash in a research note on Tuesday. Oppenheimer boosted their price target on DoorDash from $310.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Finally, Sanford C. Bernstein increased their price objective on DoorDash from $210.00 to $265.00 and gave the stock an “outperform” rating in a research report on Monday, July 21st. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, DoorDash presently has an average rating of “Moderate Buy” and an average price target of $280.62.

DoorDash Stock Up 4.0%

Shares of DASH stock traded up $7.85 during trading hours on Thursday, reaching $204.31. 9,522,053 shares of the stock were exchanged, compared to its average volume of 4,258,160. The business’s fifty day moving average is $258.75 and its two-hundred day moving average is $237.24. The firm has a market capitalization of $87.28 billion, a P/E ratio of 103.71 and a beta of 1.70. DoorDash has a 12-month low of $155.40 and a 12-month high of $285.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.04 and a quick ratio of 2.07.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results 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 business had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.35 billion. DoorDash had a net margin of 6.83% and a return on equity of 9.97%. The firm’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 earnings per share. As a group, research analysts expect that DoorDash will post 2.22 EPS for the current fiscal year.

Insider Activity at DoorDash

In related news, COO Prabir Adarkar sold 41,881 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $245.82, for a total value of $10,295,187.42. Following the sale, the chief operating officer directly owned 914,547 shares in the company, valued at $224,813,943.54. The trade was a 4.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Tony Xu sold 291,403 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 229,047 shares in the company, valued at approximately $54,556,704.93. The trade was a 55.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 876,527 shares of company stock valued at $218,129,954 in the last ninety days. Corporate insiders own 5.83% of the company’s stock.

Institutional Trading of DoorDash

Several institutional investors and hedge funds have recently modified their holdings of the business. Brighton Jones LLC increased its stake in shares of DoorDash by 24.0% during the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock worth $1,566,000 after purchasing an additional 1,807 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new position in shares of DoorDash in the first quarter worth $361,000. Concurrent Investment Advisors LLC purchased a new stake in shares of DoorDash in the first quarter valued at $251,000. Envestnet Asset Management Inc. increased its position in DoorDash by 14.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 105,272 shares of the company’s stock worth $19,241,000 after purchasing an additional 13,260 shares in the last quarter. Finally, Crossmark Global Holdings Inc. raised its position in shares of DoorDash by 144.9% in the first quarter. Crossmark Global Holdings Inc. now owns 5,050 shares of the company’s stock valued at $923,000 after buying an additional 2,988 shares during the last quarter. Hedge funds and other 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.