Barclays Lowers DoorDash (NASDAQ:DASH) Price Target to $238.00

DoorDash (NASDAQ:DASH) had its price target reduced by investment analysts at Barclays from $272.00 to $238.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price would indicate a potential upside of 16.49% from the stock’s current price.

A number of other analysts have also commented on DASH. Wedbush decreased their target price on DoorDash from $280.00 to $260.00 and set a “neutral” rating for the company in a research report on Thursday. Guggenheim upgraded DoorDash to a “strong-buy” rating in a report on Wednesday, October 15th. Jefferies Financial Group increased their target price on DoorDash from $265.00 to $280.00 and gave the stock a “hold” rating in a report on Friday, October 17th. Benchmark boosted their price target on shares of DoorDash from $315.00 to $320.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Oppenheimer upped their price objective on shares of DoorDash from $310.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Four investment 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $280.62.

DoorDash Stock Performance

NASDAQ:DASH opened at $204.31 on Thursday. The company has a quick ratio of 2.07, a current ratio of 2.04 and a debt-to-equity ratio of 0.29. DoorDash has a twelve month low of $155.40 and a twelve month high of $285.50. The company has a fifty day moving average of $258.75 and a 200-day moving average of $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 (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The company had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same quarter in the previous year, the business posted $0.38 earnings per share. The company’s revenue for the quarter was up 27.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that DoorDash will post 2.22 EPS for the current year.

Insider Transactions at DoorDash

In other DoorDash news, Director Shona L. Brown sold 1,250 shares of DoorDash stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $277.47, for a total transaction of $346,837.50. Following the transaction, the director owned 37,252 shares of the company’s stock, valued at $10,336,312.44. This trade represents a 3.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stanley Tang sold 45,410 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $244.39, for a total value of $11,097,749.90. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 876,527 shares of company stock worth $218,129,954. Company insiders own 5.83% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Physician Wealth Advisors Inc. boosted its holdings in shares of DoorDash by 284.0% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 96 shares of the company’s stock worth $26,000 after buying an additional 71 shares during the last quarter. GFG Capital LLC purchased a new stake in DoorDash during the second quarter worth about $30,000. Saudi Central Bank bought a new stake in DoorDash in the first quarter worth about $25,000. WPG Advisers LLC bought a new stake in DoorDash in the first quarter worth about $26,000. Finally, Sound Income Strategies LLC boosted its stake in DoorDash by 2,760.0% in the third quarter. Sound Income Strategies LLC now owns 143 shares of the company’s stock valued at $39,000 after acquiring an additional 138 shares during the last quarter. 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.