DoorDash (NASDAQ:DASH) Lowered to Hold Rating by Zacks Research

DoorDash (NASDAQ:DASH) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other analysts also recently weighed in on DASH. Benchmark lifted their target price on shares of DoorDash from $315.00 to $320.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. BTIG Research restated a “buy” rating and set a $315.00 price target on shares of DoorDash in a research report on Thursday, November 6th. Evercore ISI reaffirmed an “outperform” rating and issued a $360.00 price objective (up from $240.00) on shares of DoorDash in a research note on Friday, August 8th. BMO Capital Markets boosted their price objective on DoorDash from $238.00 to $288.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Finally, The Goldman Sachs Group decreased their target price on DoorDash from $315.00 to $279.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $280.62.

DoorDash Stock Down 1.7%

Shares of DASH opened at $200.63 on Monday. The firm has a market cap of $85.71 billion, a P/E ratio of 101.84 and a beta of 1.70. DoorDash has a 12-month low of $155.40 and a 12-month high of $285.50. The company’s 50-day moving average price is $257.06 and its 200 day moving average price is $238.27. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.29.

DoorDash (NASDAQ:DASH) last announced 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). The company had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.35 billion. DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The company’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same period last year, the business earned $0.38 EPS. On average, sell-side analysts forecast that DoorDash will post 2.22 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Stanley Tang sold 45,410 shares of DoorDash 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Shona L. Brown sold 1,250 shares of the business’s stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $277.47, for a total value of $346,837.50. Following the transaction, the director directly owned 37,252 shares of the company’s stock, valued at approximately $10,336,312.44. This represents 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 825,277 shares of company stock worth $205,015,591 over the last ninety days. Company insiders own 5.83% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Large investors have recently modified their holdings of the company. Saudi Central Bank purchased a new stake in shares of DoorDash during the 1st quarter worth $25,000. WPG Advisers LLC acquired a new stake in DoorDash in the first quarter valued at $26,000. Physician Wealth Advisors Inc. lifted its holdings in DoorDash by 284.0% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 96 shares of the company’s stock worth $26,000 after buying an additional 71 shares during the last quarter. Pacific Center for Financial Services purchased a new stake in DoorDash during the 1st quarter worth about $27,000. Finally, GFG Capital LLC acquired a new position in shares of DoorDash during the 2nd quarter worth about $30,000. 90.64% of the stock is 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.