Wedbush Cuts DoorDash (NASDAQ:DASH) Price Target to $260.00

DoorDash (NASDAQ:DASH) had its price target reduced by Wedbush from $280.00 to $260.00 in a research report report published on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts also recently issued reports on DASH. Wall Street Zen downgraded DoorDash from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Guggenheim upgraded DoorDash to a “strong-buy” rating in a research note on Wednesday, October 15th. Wells Fargo & Company reduced their target price on DoorDash from $306.00 to $301.00 and set an “equal weight” rating on the stock in a research report on Friday, October 3rd. Evercore ISI reiterated an “outperform” rating and issued a $360.00 price target (up from $240.00) on shares of DoorDash in a research note on Friday, August 8th. Finally, Roth Capital raised their price target on DoorDash from $191.00 to $225.00 and gave the stock a “neutral” rating in a report on Monday, July 14th. Four analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, DoorDash presently has an average rating of “Moderate Buy” and a consensus target price of $280.62.

DoorDash Stock Performance

DASH stock opened at $204.31 on Thursday. DoorDash has a one year low of $155.40 and a one year high of $285.50. The firm has a market cap of $87.28 billion, a price-to-earnings ratio of 103.71 and a beta of 1.70. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.07 and a current ratio of 2.04. The firm has a 50-day simple moving average of $258.75 and a two-hundred day simple moving average of $237.66.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). The firm had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.35 billion. DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The firm’s quarterly revenue was up 27.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 EPS. On average, equities analysts forecast 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 DoorDash stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $244.39, for a total transaction of $11,097,749.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Prabir Adarkar sold 24,968 shares of the stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $272.32, for a total transaction of $6,799,285.76. Following the completion of the sale, the chief operating officer owned 909,579 shares in the company, valued at $247,696,553.28. The trade was a 2.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 876,527 shares of company stock valued at $218,129,954. 5.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DASH. Vanguard Group Inc. raised its stake in shares of DoorDash by 25.8% during the 1st 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 during the last quarter. Norges Bank purchased a new stake in shares of DoorDash in the second quarter worth about $1,185,576,000. AQR Capital Management LLC grew its holdings in DoorDash by 442.5% during the first quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company’s stock worth $321,799,000 after acquiring an additional 1,497,636 shares during the period. Invesco Ltd. raised its position in DoorDash by 41.9% during 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 in the last quarter. Finally, Nuveen LLC purchased a new position in DoorDash during the first quarter valued at approximately $211,415,000. 90.64% of the stock is currently 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.