UBS Group Cuts DoorDash (NASDAQ:DASH) Price Target to $241.00

DoorDash (NASDAQ:DASH) had its target price trimmed by UBS Group from $316.00 to $241.00 in a research report released on Thursday,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities research analysts also recently weighed in on DASH. Benchmark raised their target price on shares of DoorDash from $315.00 to $320.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Wedbush decreased their price objective on DoorDash from $280.00 to $260.00 and set a “neutral” rating for the company in a report on Thursday. Jefferies Financial Group boosted their target price on DoorDash from $265.00 to $280.00 and gave the stock a “hold” rating in a research note on Friday, October 17th. Loop Capital reiterated a “buy” rating on shares of DoorDash in a research note on Tuesday, July 15th. Finally, Bank of America dropped their price target on DoorDash from $325.00 to $305.00 and set a “buy” rating on the stock in a research note on Thursday. Four investment 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $280.62.

DoorDash Price Performance

DASH opened at $204.31 on Thursday. The firm has a market capitalization of $87.28 billion, a PE ratio of 103.71 and a beta of 1.70. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.04 and a quick ratio of 2.07. The business’s 50-day moving average is $258.75 and its two-hundred day moving average is $237.66. DoorDash has a 1 year low of $155.40 and a 1 year high of $285.50.

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

Insider Transactions at DoorDash

In related news, 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 transaction of $69,409,280.57. Following the completion of the sale, the chief executive officer owned 229,047 shares of the company’s stock, valued at $54,556,704.93. The trade was a 55.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stanley Tang sold 45,410 shares of the company’s stock in a transaction that occurred 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 SEC filing for this sale provides additional information. Insiders sold a total of 876,527 shares of company stock worth $218,129,954 over the last three months. 5.83% of the stock is currently owned by insiders.

Institutional Trading of DoorDash

A number of hedge funds and other institutional investors have recently made changes to their positions in DASH. Vanguard Group Inc. lifted its position in DoorDash by 3.7% during the third quarter. Vanguard Group Inc. now owns 42,712,908 shares of the company’s stock valued at $11,617,484,000 after purchasing an additional 1,522,823 shares during the period. State Street Corp grew its position in DoorDash by 3.1% during the 2nd quarter. State Street Corp now owns 14,387,499 shares of the company’s stock worth $3,546,662,000 after purchasing an additional 427,722 shares during the period. Geode Capital Management LLC raised its stake in shares of DoorDash by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 7,951,230 shares of the company’s stock valued at $1,950,711,000 after buying an additional 223,188 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of DoorDash by 12.0% in the 2nd quarter. Invesco Ltd. now owns 5,375,480 shares of the company’s stock valued at $1,325,110,000 after buying an additional 575,629 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of DoorDash by 15.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company’s stock valued at $897,031,000 after buying an additional 641,601 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

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.