DoorDash (NASDAQ:DASH) Price Target Lowered to $270.00 at Cantor Fitzgerald

DoorDash (NASDAQ:DASH) had its price target reduced by Cantor Fitzgerald from $330.00 to $270.00 in a report published on Thursday, MarketBeat.com reports. Cantor Fitzgerald currently has an overweight rating on the stock. Cantor Fitzgerald also issued estimates for DoorDash’s FY2025 earnings at $2.09 EPS.

DASH has been the topic of a number of other reports. Piper Sandler increased their price objective on shares of DoorDash from $210.00 to $290.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Royal Bank Of Canada boosted their price objective on DoorDash from $230.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Truist Financial lifted their price objective on shares of DoorDash from $326.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Loop Capital restated a “buy” rating on shares of DoorDash in a research report on Tuesday, July 15th. Finally, KeyCorp reiterated an “overweight” rating and issued a $325.00 target price (up from $295.00) on shares of DoorDash in a report on Thursday, August 7th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $280.62.

DoorDash Trading Up 4.0%

Shares of DASH stock traded up $7.85 during mid-day trading on Thursday, reaching $204.31. The company’s stock had a trading volume of 9,522,053 shares, compared to its average volume of 4,258,160. The company has a quick ratio of 2.07, a current ratio of 2.04 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $87.28 billion, a PE ratio of 99.73 and a beta of 1.70. The company’s 50 day simple moving average is $259.57 and its 200-day simple moving average is $237.02. DoorDash has a 12-month low of $155.40 and a 12-month high of $285.50.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.13). The company had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.35 billion. DoorDash had a net margin of 6.83% and a return on equity of 9.97%. The company’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same period last year, the business earned $0.38 earnings per share. On average, research analysts predict that DoorDash will post 2.22 EPS for the current fiscal year.

Insider Activity

In other DoorDash news, Director Stanley Tang sold 45,410 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $243.31, for a total value of $11,048,707.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Tony Xu sold 291,403 shares of DoorDash stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total value of $69,409,280.57. Following the sale, the chief executive officer directly owned 229,047 shares in the company, valued at approximately $54,556,704.93. This trade represents a 55.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 876,527 shares of company stock valued at $218,129,954 over the last 90 days. 5.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DoorDash

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in DoorDash by 25.8% in the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock valued at $7,200,642,000 after buying an additional 8,073,882 shares in the last quarter. Norges Bank bought a new stake in shares of DoorDash during the second quarter worth $1,185,576,000. AQR Capital Management LLC lifted its position in DoorDash by 442.5% during the 1st quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company’s stock valued at $321,799,000 after purchasing an additional 1,497,636 shares during the period. Invesco Ltd. boosted its stake in DoorDash by 41.9% in the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company’s stock valued at $877,269,000 after acquiring an additional 1,416,194 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of DoorDash in the 1st quarter worth $211,415,000. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Company Profile

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.