DoorDash (NASDAQ:DASH) Stock Rating Lowered by Zacks Research

DoorDash (NASDAQ:DASH) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other brokerages have also recently commented on DASH. Guggenheim raised shares of DoorDash to a “strong-buy” rating in a research report on Wednesday, October 15th. Wedbush reduced their price objective on DoorDash from $280.00 to $260.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. JMP Securities raised their price target on shares of DoorDash from $250.00 to $335.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 7th. BTIG Research reaffirmed a “buy” rating and set a $315.00 price objective on shares of DoorDash in a report on Thursday, November 6th. Finally, Stifel Nicolaus decreased their price objective on DoorDash from $255.00 to $253.00 and set a “hold” rating on the stock in a research note on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, DoorDash has an average rating of “Moderate Buy” and a consensus price target of $279.74.

DoorDash Stock Performance

Shares of DASH stock traded down $1.17 during midday trading on Monday, hitting $199.47. 1,286,291 shares of the company were exchanged, compared to its average volume of 4,426,939. DoorDash has a 52 week low of $155.40 and a 52 week high of $285.50. The firm’s 50 day moving average price is $257.06 and its two-hundred day moving average price is $238.27. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.04 and a current ratio of 2.04. The firm has a market capitalization of $85.21 billion, a P/E ratio of 101.43 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last released 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). The business had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.35 billion. DoorDash had a return on equity of 9.97% and a net margin of 6.83%.DoorDash’s revenue was up 27.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.38 earnings per share. As a group, equities research analysts anticipate that DoorDash will post 2.22 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Stanley Tang sold 45,410 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $244.39, for a total value of $11,097,749.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Prabir Adarkar sold 24,968 shares of the company’s stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $272.32, for a total value of $6,799,285.76. Following the completion of the transaction, the chief operating officer owned 909,579 shares of the company’s stock, valued at $247,696,553.28. The trade was a 2.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 825,277 shares of company stock valued at $205,015,591 over the last ninety days. 5.83% of the stock is owned by insiders.

Hedge Funds Weigh In On DoorDash

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of DoorDash by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 42,712,908 shares of the company’s stock worth $11,617,484,000 after buying an additional 1,522,823 shares during the last quarter. State Street Corp raised its holdings in shares of DoorDash by 3.1% during the second 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 last quarter. Geode Capital Management LLC boosted its stake in shares of DoorDash by 2.9% in the second quarter. Geode Capital Management LLC now owns 7,951,230 shares of the company’s stock worth $1,950,711,000 after buying an additional 223,188 shares during the last quarter. Invesco Ltd. increased its holdings in shares of DoorDash by 12.0% during the 2nd quarter. Invesco Ltd. now owns 5,375,480 shares of the company’s stock valued at $1,325,110,000 after purchasing an additional 575,629 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of DoorDash by 15.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company’s stock worth $897,031,000 after acquiring an additional 641,601 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

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.