DoorDash (NASDAQ:DASH) Price Target Cut to $165.00 by Analysts at Royal Bank of Canada

DoorDash (NASDAQ:DASH) had its price objective reduced by Royal Bank of Canada from $175.00 to $165.00 in a research note released on Thursday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other research analysts also recently weighed in on the company. Piper Sandler upgraded DoorDash from an underweight rating to a neutral rating and boosted their target price for the stock from $53.00 to $127.00 in a research note on Friday, March 15th. Susquehanna boosted their price target on DoorDash from $110.00 to $135.00 and gave the stock a positive rating in a research note on Tuesday, February 20th. UBS Group cut their price objective on shares of DoorDash from $123.00 to $118.00 and set a neutral rating on the stock in a report on Friday, February 16th. Needham & Company LLC reiterated a buy rating and issued a $137.00 target price on shares of DoorDash in a research note on Thursday. Finally, Benchmark assumed coverage on shares of DoorDash in a research note on Thursday, April 4th. They set a buy rating and a $165.00 price target on the stock. Nine analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $129.96.

DoorDash Stock Performance

DASH stock traded down $0.50 during trading on Thursday, reaching $113.81. 6,210,790 shares of the company traded hands, compared to its average volume of 4,293,060. The business has a 50 day simple moving average of $131.86 and a 200 day simple moving average of $110.13. DoorDash has a 12 month low of $60.36 and a 12 month high of $143.34. The company has a market capitalization of $45.98 billion, a price-to-earnings ratio of -105.38, a price-to-earnings-growth ratio of 13.13 and a beta of 1.78.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.45 billion. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The company’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.41) EPS. As a group, research analysts forecast that DoorDash will post 0.21 EPS for the current year.

Insider Transactions at DoorDash

In related news, CFO Ravi Inukonda sold 7,000 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $130.95, for a total value of $916,650.00. Following the completion of the transaction, the chief financial officer now owns 384,425 shares of the company’s stock, valued at approximately $50,340,453.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other DoorDash news, CFO Ravi Inukonda sold 7,000 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $130.95, for a total transaction of $916,650.00. Following the completion of the transaction, the chief financial officer now directly owns 384,425 shares in the company, valued at $50,340,453.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andy Fang sold 67,000 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $110.57, for a total transaction of $7,408,190.00. Following the transaction, the director now directly owns 40,969 shares in the company, valued at $4,529,942.33. The disclosure for this sale can be found here. Insiders have sold a total of 487,782 shares of company stock valued at $64,046,807 in the last ninety days. 9.59% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DoorDash

Hedge funds have recently made changes to their positions in the company. Spire Wealth Management purchased a new position in DoorDash in the 1st quarter valued at $25,000. Fifth Third Bancorp lifted its stake in shares of DoorDash by 448.8% in the third quarter. Fifth Third Bancorp now owns 439 shares of the company’s stock worth $35,000 after buying an additional 359 shares in the last quarter. Venturi Wealth Management LLC boosted its position in DoorDash by 54.5% during the first quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock worth $35,000 after acquiring an additional 90 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in DoorDash by 361.2% during the 4th quarter. Parkside Financial Bank & Trust now owns 392 shares of the company’s stock valued at $39,000 after acquiring an additional 307 shares in the last quarter. Finally, Covestor Ltd raised its holdings in DoorDash by 101.2% in the 3rd quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $40,000 after acquiring an additional 253 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Company Profile

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.