DoorDash (NASDAQ:DASH) Given New $270.00 Price Target at Royal Bank Of Canada

DoorDash (NASDAQ:DASH) had its target price cut by Royal Bank Of Canada from $300.00 to $270.00 in a report published on Thursday, Marketbeat.com reports. They currently have an outperform rating on the stock.

DASH has been the subject of several other reports. The Goldman Sachs Group started coverage on DoorDash in a report on Monday, October 27th. They issued a “buy” rating and a $315.00 target price for the company. Wall Street Zen cut shares of DoorDash from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. BMO Capital Markets lifted their target price on shares of DoorDash from $238.00 to $288.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. raised shares of DoorDash from a “neutral” rating to an “overweight” rating and increased their price target for the company from $175.00 to $325.00 in a research note on Tuesday, October 14th. Finally, Susquehanna raised their price target on shares of DoorDash from $235.00 to $300.00 and gave the stock a “positive” rating in a report on Monday, August 11th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $283.15.

DoorDash Stock Down 17.5%

DASH stock opened at $196.46 on Thursday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average of $259.57 and a two-hundred day moving average of $237.02. DoorDash has a 12 month low of $155.40 and a 12 month high of $285.50. The company has a market cap of $83.93 billion, a price-to-earnings ratio of 99.73 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.13). DoorDash had a return on equity of 10.31% and a net margin of 6.83%.The company had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same quarter in the prior year, the firm earned $0.38 earnings per share. The company’s revenue for the quarter was up 27.3% on a year-over-year basis. As a group, analysts forecast that DoorDash will post 2.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Stanley Tang sold 45,410 shares of DoorDash 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Prabir Adarkar sold 41,881 shares of the company’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $245.82, for a total value of $10,295,187.42. Following the transaction, the chief operating officer owned 914,547 shares in the company, valued at $224,813,943.54. This trade represents a 4.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 876,527 shares of company stock valued at $218,129,954. Company insiders own 5.83% of the company’s stock.

Hedge Funds Weigh In On DoorDash

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Physician Wealth Advisors Inc. boosted its stake in shares of DoorDash by 284.0% in the third quarter. Physician Wealth Advisors Inc. now owns 96 shares of the company’s stock valued at $26,000 after purchasing an additional 71 shares during the period. GFG Capital LLC purchased a new position in DoorDash in the 2nd quarter valued at approximately $30,000. Saudi Central Bank acquired a new position in shares of DoorDash in the first quarter worth $25,000. WPG Advisers LLC purchased a new stake in shares of DoorDash during the first quarter worth $26,000. Finally, Sound Income Strategies LLC raised its stake in shares of 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 in the last quarter. 90.64% of the stock is currently 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.