DoorDash (NASDAQ:DASH) Price Target Lowered to $238.00 at Barclays

DoorDash (NASDAQ:DASH) had its price objective trimmed by Barclays from $272.00 to $238.00 in a report issued on Thursday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other research firms also recently issued reports on DASH. Royal Bank Of Canada upped their price objective on DoorDash from $230.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Sanford C. Bernstein boosted their target price on shares of DoorDash from $210.00 to $265.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. JMP Securities raised their price target on shares of DoorDash from $250.00 to $335.00 and gave the company a “market outperform” rating in a research note on Thursday, August 7th. Loop Capital reiterated a “buy” rating on shares of DoorDash in a report on Tuesday, July 15th. Finally, Zacks Research upgraded DoorDash from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Four research 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. According to MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus price target of $280.62.

DoorDash Stock Performance

Shares of DASH stock traded up $7.85 on Thursday, hitting $204.31. The company’s stock had a trading volume of 9,522,053 shares, compared to its average volume of 4,258,160. DoorDash has a fifty-two week low of $155.40 and a fifty-two week high of $285.50. 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 stock’s 50 day moving average is $259.57 and its 200-day moving average is $237.02. The company has a market capitalization of $87.28 billion, a PE ratio of 99.73 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results 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). The firm had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.35 billion. DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The business’s revenue was up 27.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 EPS. Equities research analysts expect that DoorDash will post 2.22 earnings per share for the current fiscal year.

Insider Activity at DoorDash

In related news, Director Stanley Tang sold 45,410 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $243.31, for a total transaction of $11,048,707.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Tony Xu sold 291,403 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $238.19, for a total transaction of $69,409,280.57. Following the completion of the sale, the chief executive officer owned 229,047 shares of the company’s stock, valued at approximately $54,556,704.93. This trade represents a 55.99% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 876,527 shares of company stock valued at $218,129,954. 5.83% of the stock is owned by corporate insiders.

Institutional Trading of DoorDash

Several hedge funds have recently made changes to their positions in DASH. Vanguard Group Inc. increased its stake in shares of DoorDash by 3.7% in the third quarter. Vanguard Group Inc. now owns 42,712,908 shares of the company’s stock worth $11,617,484,000 after purchasing an additional 1,522,823 shares in the last quarter. State Street Corp lifted its position 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 acquiring an additional 427,722 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of DoorDash by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 7,951,230 shares of the company’s stock valued at $1,950,711,000 after purchasing an additional 223,188 shares during the period. Invesco Ltd. lifted its holdings in shares of DoorDash by 12.0% in the second quarter. Invesco Ltd. now owns 5,375,480 shares of the company’s stock worth $1,325,110,000 after buying an additional 575,629 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in DoorDash by 15.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company’s stock valued at $897,031,000 after acquiring an additional 641,601 shares in the last quarter. 90.64% of the stock is currently owned by 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.