JPMorgan Chase & Co. Cuts DoorDash (NASDAQ:DASH) Price Target to $300.00

DoorDash (NASDAQ:DASH) had its target price trimmed by JPMorgan Chase & Co. from $325.00 to $300.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms also recently commented on DASH. Mizuho set a $350.00 target price on shares of DoorDash and gave the stock an “outperform” rating in a research report on Monday, September 29th. Cantor Fitzgerald dropped their price target on DoorDash from $330.00 to $270.00 and set an “overweight” rating on the stock in a research note on Thursday. Barclays cut their price objective on DoorDash from $272.00 to $238.00 and set an “equal weight” rating for the company in a report on Thursday. Roth Capital increased their target price on DoorDash from $191.00 to $225.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Finally, Susquehanna raised their target price on DoorDash from $235.00 to $300.00 and gave the stock a “positive” rating in a research report on Monday, August 11th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and a consensus price target of $280.62.

DoorDash Price Performance

NASDAQ DASH opened at $204.31 on Thursday. DoorDash has a one year low of $155.40 and a one year high of $285.50. The stock has a 50-day moving average of $258.75 and a 200 day moving average of $237.66. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.07 and a current ratio of 2.04. The company has a market capitalization of $87.28 billion, a price-to-earnings ratio of 103.71 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last announced 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 the consensus estimate of $3.35 billion. During the same quarter in the prior year, the firm earned $0.38 earnings per share. The business’s revenue was up 27.3% compared to the same quarter last year. On average, sell-side analysts forecast that DoorDash will post 2.22 EPS for the current year.

Insiders Place Their Bets

In other news, Director Stanley Tang sold 45,410 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $244.39, for a total value of $11,097,749.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Ravi Inukonda sold 1,425 shares of DoorDash stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $263.86, for a total value of $376,000.50. Following the transaction, the chief financial officer directly owned 214,147 shares in the company, valued at approximately $56,504,827.42. The trade was a 0.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 876,527 shares of company stock valued at $218,129,954. 5.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DoorDash

Several large investors have recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of DoorDash by 11.4% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 368,157 shares of the company’s stock worth $99,881,000 after purchasing an additional 37,673 shares in the last quarter. Fiera Capital Corp lifted its stake in shares of DoorDash by 85.4% during the 3rd quarter. Fiera Capital Corp now owns 58,076 shares of the company’s stock valued at $15,796,000 after buying an additional 26,746 shares in the last quarter. NewEdge Wealth LLC boosted its holdings in DoorDash by 20.9% in the 3rd quarter. NewEdge Wealth LLC now owns 4,934 shares of the company’s stock worth $1,342,000 after buying an additional 853 shares during the period. Cercano Management LLC purchased a new stake in DoorDash in the 3rd quarter worth $7,019,000. Finally, Syon Capital LLC increased its stake in DoorDash by 0.3% in the 3rd quarter. Syon Capital LLC now owns 256,180 shares of the company’s stock worth $69,678,000 after buying an additional 833 shares in the last quarter. Hedge funds and other 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.