DoorDash (NASDAQ:DASH) Given New $279.00 Price Target at The Goldman Sachs Group

DoorDash (NASDAQ:DASH) had its target price cut by stock analysts at The Goldman Sachs Group from $315.00 to $279.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 36.56% from the stock’s current price.

Several other research analysts have also recently commented on the stock. Loop Capital reiterated a “buy” rating on shares of DoorDash in a report on Tuesday, July 15th. Mizuho set a $350.00 price objective on shares of DoorDash and gave the stock an “outperform” rating in a research report on Monday, September 29th. Barclays dropped their target price on DoorDash from $272.00 to $238.00 and set an “equal weight” rating on the stock in a report on Thursday. Morgan Stanley raised their price target on DoorDash from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Finally, Truist Financial upped their price objective on DoorDash from $326.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Four analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $280.62.

DoorDash Stock Up 4.0%

NASDAQ DASH traded up $7.85 during trading hours on Friday, hitting $204.31. 9,520,728 shares of the company were exchanged, compared to its average volume of 4,429,050. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. The firm has a market cap of $87.28 billion, a price-to-earnings ratio of 103.71 and a beta of 1.70. The company has a 50 day moving average of $259.57 and a two-hundred day moving average of $237.02. DoorDash has a 52-week low of $155.40 and a 52-week high of $285.50.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.55 earnings per share (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 10.31%. The company had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same quarter in the previous year, the business posted $0.38 EPS. The business’s quarterly revenue was up 27.3% compared to the same quarter last year. Equities research analysts anticipate that DoorDash will post 2.22 earnings per share for the current year.

Insider Activity

In other DoorDash news, CFO Ravi Inukonda sold 1,425 shares of the firm’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $263.86, for a total transaction of $376,000.50. Following the transaction, the chief financial officer directly owned 214,147 shares of the company’s stock, valued at approximately $56,504,827.42. This trade represents a 0.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Shona L. Brown sold 1,250 shares of the company’s stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $277.47, for a total transaction of $346,837.50. Following the completion of the sale, the director directly owned 37,252 shares of the company’s stock, valued at $10,336,312.44. The trade was a 3.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 876,527 shares of company stock worth $218,129,954 over the last 90 days. 5.83% of the stock is owned by corporate insiders.

Institutional Trading of DoorDash

A number of hedge funds have recently added to or reduced their stakes in the stock. NewEdge Wealth LLC grew its stake in shares of DoorDash by 20.9% in the 3rd quarter. NewEdge Wealth LLC now owns 4,934 shares of the company’s stock valued at $1,342,000 after purchasing an additional 853 shares during the last quarter. Cercano Management LLC acquired a new stake in shares of DoorDash during the third quarter worth $7,019,000. Syon Capital LLC grew its position in DoorDash by 0.3% in the 3rd quarter. Syon Capital LLC now owns 256,180 shares of the company’s stock valued at $69,678,000 after buying an additional 833 shares during the last quarter. Axxcess Wealth Management LLC acquired a new position in DoorDash in the 3rd quarter valued at $634,000. Finally, Crestwood Advisors Group LLC raised its position in DoorDash by 22.9% during the 3rd quarter. Crestwood Advisors Group LLC now owns 1,746 shares of the company’s stock worth $475,000 after buying an additional 325 shares during the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

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.