Benchmark Trims DoorDash (NASDAQ:DASH) Target Price to $150.00

DoorDash (NASDAQ:DASH) had its price objective lowered by Benchmark from $165.00 to $150.00 in a research note published on Thursday morning, Benzinga reports. Benchmark currently has a buy rating on the stock.

Several other research analysts have also issued reports on DASH. Royal Bank of Canada dropped their target price on DoorDash from $175.00 to $165.00 and set an outperform rating for the company in a research report on Thursday. Jefferies Financial Group upgraded DoorDash from a hold rating to a buy rating and increased their target price for the stock from $90.00 to $130.00 in a research note on Monday, January 8th. Truist Financial upped their price target on shares of DoorDash from $140.00 to $155.00 and gave the stock a buy rating in a report on Wednesday, March 27th. Mizuho lifted their price objective on shares of DoorDash from $140.00 to $152.00 and gave the company a buy rating in a report on Friday, February 16th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of DoorDash from $140.00 to $155.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. Nine equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $129.96.

DoorDash Trading Down 0.4 %

Shares of NASDAQ:DASH traded down $0.50 during trading on Thursday, reaching $113.81. The company’s stock had a trading volume of 6,210,790 shares, compared to its average volume of 4,293,060. DoorDash has a 12 month low of $60.36 and a 12 month high of $143.34. The firm’s 50 day simple moving average is $131.86 and its two-hundred day simple moving average is $110.13. The stock has a market capitalization of $45.98 billion, a PE ratio of -105.38, a price-to-earnings-growth ratio of 13.07 and a beta of 1.78.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The company had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.45 billion. During the same period in the previous year, the firm earned ($0.41) earnings per share. DoorDash’s quarterly revenue was up 23.5% compared to the same quarter last year. Research analysts anticipate that DoorDash will post 0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $130.95, for a total transaction of $916,650.00. Following the completion of the sale, the chief financial officer now owns 384,425 shares in the company, valued at approximately $50,340,453.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $130.95, for a total transaction of $916,650.00. Following the sale, the chief financial officer now owns 384,425 shares in the company, valued at $50,340,453.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Shona L. Brown sold 700 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $109.71, for a total transaction of $76,797.00. Following the transaction, the director now owns 71,514 shares in the company, valued at approximately $7,845,800.94. The disclosure for this sale can be found here. Over the last three months, insiders have sold 487,782 shares of company stock valued at $64,046,807. 9.59% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DoorDash

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

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.