DoorDash (NASDAQ:DASH) Price Target Cut to $320.00 by Analysts at Mizuho

DoorDash (NASDAQ:DASH) had its price objective cut by equities researchers at Mizuho from $350.00 to $320.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s price objective suggests a potential upside of 59.50% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. Barclays lowered their target price on DoorDash from $272.00 to $238.00 and set an “equal weight” rating for the company in a research note on Thursday, November 6th. JPMorgan Chase & Co. dropped their price objective on shares of DoorDash from $325.00 to $300.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. JMP Securities upped their target price on shares of DoorDash from $250.00 to $335.00 and gave the company a “market outperform” rating in a research note on Thursday, August 7th. DA Davidson reaffirmed a “neutral” rating and set a $260.00 price target on shares of DoorDash in a report on Thursday, November 6th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $325.00 price objective (up from $275.00) on shares of DoorDash in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $279.74.

DoorDash Stock Down 1.7%

DASH stock opened at $200.63 on Wednesday. DoorDash has a one year low of $155.40 and a one year high of $285.50. The company has a fifty day moving average of $257.06 and a 200-day moving average of $238.27. The stock has a market capitalization of $85.71 billion, a PE ratio of 101.84 and a beta of 1.70. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.04 and a current ratio of 2.04.

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 business 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%.DoorDash’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 earnings per share. As a group, analysts expect that DoorDash will post 2.22 EPS for the current year.

Insider Buying and Selling at DoorDash

In other DoorDash news, CEO Tony Xu sold 291,403 shares of the business’s stock in a transaction on 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 sale, the chief executive officer directly owned 229,047 shares of the company’s stock, valued at $54,556,704.93. The trade was a 55.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andy Fang sold 30,000 shares of DoorDash stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $243.32, for a total value of $7,299,600.00. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 825,277 shares of company stock worth $205,015,591. Company insiders own 5.83% of the company’s stock.

Institutional Trading of DoorDash

A number of institutional investors and hedge funds have recently made changes to their positions in DASH. Night Squared LP acquired a new stake in shares of DoorDash during the 1st quarter valued at about $2,780,000. Mutual of America Capital Management LLC bought a new position in DoorDash in the 1st quarter valued at $7,200,000. Public Investment Fund raised its holdings in DoorDash by 68.3% during the 1st quarter. Public Investment Fund now owns 821,389 shares of the company’s stock worth $150,125,000 after purchasing an additional 333,369 shares during the last quarter. Ardmore Road Asset Management LP boosted its stake in DoorDash by 6.7% in the first quarter. Ardmore Road Asset Management LP now owns 80,000 shares of the company’s stock valued at $14,622,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Junto Capital Management LP bought a new stake in DoorDash in the first quarter valued at about $29,261,000. Institutional investors and hedge funds 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.