DoorDash (NYSE:DASH) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of DoorDash (NYSE:DASH) from a hold rating to a sell rating in a research report released on Tuesday, Zacks.com reports.

According to Zacks, “DoorDash, Inc. provides restaurant food delivery services. The Company develops technology to connect customers with merchants through an on-demand food delivery application. DoorDash, Inc. is based in San Francisco, United States. “

Several other equities analysts also recently weighed in on DASH. Gordon Haskett raised DoorDash from a hold rating to a buy rating and dropped their price objective for the company from $230.00 to $217.00 in a research note on Wednesday, December 1st. Royal Bank of Canada raised their price objective on DoorDash from $210.00 to $260.00 and gave the company an outperform rating in a research note on Wednesday, November 10th. Piper Sandler raised their price target on DoorDash from $221.00 to $227.00 and gave the stock a neutral rating in a research report on Wednesday, November 10th. Bank of America raised their price target on DoorDash from $255.00 to $270.00 and gave the stock a buy rating in a research report on Wednesday, November 10th. Finally, JPMorgan Chase & Co. lowered their price objective on DoorDash from $220.00 to $175.00 and set a neutral rating for the company in a research report on Wednesday, December 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus target price of $228.68.

DASH opened at $131.53 on Tuesday. The business has a 50 day simple moving average of $169.39 and a 200-day simple moving average of $186.09. The stock has a market capitalization of $45.12 billion and a P/E ratio of -36.43. DoorDash has a 12 month low of $110.13 and a 12 month high of $257.25.

DoorDash (NYSE:DASH) last posted its quarterly earnings results on Tuesday, November 9th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.03). The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.18 billion. As a group, sell-side analysts expect that DoorDash will post -1.18 EPS for the current fiscal year.

In related news, major shareholder Fast (Cayman) Ltd Svf sold 10,000,000 shares of the business’s stock in a transaction on Wednesday, October 27th. The shares were sold at an average price of $202.81, for a total value of $2,028,100,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andy Fang sold 40,000 shares of the business’s stock in a transaction on Friday, December 10th. The shares were sold at an average price of $162.25, for a total transaction of $6,490,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 10,677,286 shares of company stock valued at $2,152,024,064. 15.54% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Danda Trouve Investment Management Inc. bought a new stake in DoorDash in the 3rd quarter valued at $26,000. Clearstead Advisors LLC increased its stake in DoorDash by 3,850.0% in the 3rd quarter. Clearstead Advisors LLC now owns 158 shares of the company’s stock valued at $33,000 after buying an additional 154 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in DoorDash in the 3rd quarter valued at $41,000. IFP Advisors Inc acquired a new stake in DoorDash in the 3rd quarter valued at $48,000. Finally, US Bancorp DE increased its stake in DoorDash by 4,016.7% in the 3rd quarter. US Bancorp DE now owns 247 shares of the company’s stock valued at $52,000 after buying an additional 241 shares during the last quarter. 75.11% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Company Profile

DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.

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