JMP Securities Cuts DoorDash (NASDAQ:DASH) Price Target to $140.00

DoorDash (NASDAQ:DASH) had its price target cut by JMP Securities from $160.00 to $140.00 in a research report released on Thursday, Benzinga reports. They currently have a market outperform rating on the stock.

Several other research firms have also issued reports on DASH. Mizuho boosted their target price on shares of DoorDash from $140.00 to $152.00 and gave the company a buy rating in a report on Friday, February 16th. Royal Bank of Canada lowered their price objective on shares of DoorDash from $175.00 to $165.00 and set an outperform rating for the company in a research note on Thursday. Benchmark decreased their price target on shares of DoorDash from $165.00 to $150.00 and set a buy rating for the company in a research note on Thursday. Morgan Stanley raised shares of DoorDash from an equal weight rating to an overweight rating and increased their price objective for the stock from $135.00 to $145.00 in a research report on Thursday, February 22nd. Finally, Roth Mkm upped their price target on DoorDash from $92.00 to $109.00 and gave the stock a neutral rating in a research note on Friday, January 19th. Nine research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $129.96.

DoorDash Trading Down 0.4 %

NASDAQ:DASH traded down $0.50 during trading hours on Thursday, hitting $113.81. 6,210,790 shares of the company were exchanged, compared to its average volume of 4,293,060. The stock has a market capitalization of $45.98 billion, a price-to-earnings ratio of -105.38, a price-to-earnings-growth ratio of 13.07 and a beta of 1.78. DoorDash has a one year low of $60.36 and a one year high of $143.34. The company has a fifty day simple moving average of $131.86 and a 200 day simple moving average of $110.13.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, May 1st. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. DoorDash had a negative return on equity of 6.28% and a negative net margin of 4.61%. The business had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.45 billion. During the same period in the prior year, the business posted ($0.41) earnings per share. The firm’s revenue was up 23.5% on a year-over-year basis. Equities research analysts predict that DoorDash will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at DoorDash

In related news, Director Shona L. Brown sold 700 shares of DoorDash stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $141.60, for a total value of $99,120.00. Following the sale, the director now owns 70,111 shares of the company’s stock, valued at approximately $9,927,717.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Keith Yandell sold 3,500 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $124.50, for a total value of $435,750.00. Following the sale, the insider now directly owns 161,102 shares in the company, valued at approximately $20,057,199. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Shona L. Brown sold 700 shares of the stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $141.60, for a total transaction of $99,120.00. Following the transaction, the director now owns 70,111 shares of the company’s stock, valued at approximately $9,927,717.60. The disclosure for this sale can be found here. Insiders have sold a total of 487,782 shares of company stock worth $64,046,807 over the last three months. 9.59% of the stock is currently owned by insiders.

Institutional Trading of DoorDash

A number of institutional investors have recently modified their holdings of the business. Spire Wealth Management purchased a new stake in shares of DoorDash during the first quarter worth $25,000. Venturi Wealth Management LLC lifted its holdings in DoorDash by 54.5% during the 1st quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock worth $35,000 after purchasing an additional 90 shares in the last quarter. Hollencrest Capital Management bought a new position in DoorDash in the 1st quarter worth about $42,000. Parkside Financial Bank & Trust grew its holdings 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 buying an additional 307 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of DoorDash by 448.8% during the third quarter. Fifth Third Bancorp now owns 439 shares of the company’s stock valued at $35,000 after buying an additional 359 shares during the period. 90.64% of the stock is currently 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.