DoorDash (NASDAQ:DASH) Price Target Cut to $275.00 by Analysts at KeyCorp

DoorDash (NASDAQ:DASH) had its price target reduced by research analysts at KeyCorp from $280.00 to $275.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s target price points to a potential upside of 33.94% from the company’s current price.

A number of other analysts have also commented on the company. JPMorgan Chase & Co. cut their price target on DoorDash from $325.00 to $300.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Zacks Research lowered DoorDash from a “hold” rating to a “strong sell” rating in a research report on Monday, January 5th. Guggenheim reaffirmed a “buy” rating and set a $280.00 price target on shares of DoorDash in a research report on Wednesday, November 19th. Argus decreased their price target on shares of DoorDash from $275.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, December 12th. Finally, UBS Group set a $275.00 price objective on shares of DoorDash in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $278.84.

DoorDash Stock Down 2.3%

DoorDash stock opened at $205.32 on Tuesday. The company has a 50 day moving average of $216.53 and a 200-day moving average of $240.15. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.29. DoorDash has a twelve month low of $155.40 and a twelve month high of $285.50. The stock has a market capitalization of $88.49 billion, a PE ratio of 104.22 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.13). The company had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.35 billion. DoorDash had a net margin of 6.83% and a return on equity of 9.97%. The company’s revenue was up 27.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 earnings per share. On average, equities research analysts anticipate that DoorDash will post 2.22 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Alfred Lin bought 389,047 shares of the stock in a transaction dated Tuesday, November 25th. The shares were bought at an average price of $193.81 per share, for a total transaction of $75,401,199.07. Following the completion of the purchase, the director owned 389,047 shares in the company, valued at approximately $75,401,199.07. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stanley Tang sold 45,410 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $205.07, for a total value of $9,312,228.70. The SEC filing for this sale provides additional information. Insiders have sold 617,885 shares of company stock valued at $130,153,967 in the last ninety days. 5.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DoorDash

A number of hedge funds have recently bought and sold shares of the business. Norges Bank bought a new stake in DoorDash in the 2nd quarter valued at about $1,185,576,000. Vanguard Group Inc. increased its holdings in shares of DoorDash by 4.6% during the second quarter. Vanguard Group Inc. now owns 41,190,085 shares of the company’s stock worth $10,153,768,000 after purchasing an additional 1,792,799 shares during the period. Scge Management L.P. acquired a new stake in shares of DoorDash in the second quarter valued at approximately $267,463,000. Invesco Ltd. raised its position in shares of DoorDash by 18.2% in the third quarter. Invesco Ltd. now owns 6,355,628 shares of the company’s stock valued at $1,728,667,000 after buying an additional 980,148 shares in the last quarter. Finally, Ninety One UK Ltd bought a new stake in shares of DoorDash in the third quarter valued at approximately $259,154,000. 90.64% of the stock is owned by institutional investors.

DoorDash Company Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.