Roth Mkm Trims DoorDash (NASDAQ:DASH) Target Price to $118.00

DoorDash (NASDAQ:DASH) had its target price cut by Roth Mkm from $121.00 to $118.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Roth Mkm’s price objective points to a potential upside of 3.45% from the company’s previous close.

A number of other equities research analysts also recently issued reports on DASH. Jefferies Financial Group raised DoorDash from a “hold” rating to a “buy” rating and boosted their price target for the company from $90.00 to $130.00 in a research report on Monday, January 8th. The Goldman Sachs Group upped their target price on DoorDash from $109.00 to $122.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Truist Financial decreased their target price on DoorDash from $155.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday. Loop Capital assumed coverage on DoorDash in a research report on Friday, April 19th. They issued a “buy” rating and a $170.00 target price for the company. Finally, Mizuho upped their target price on DoorDash from $140.00 to $152.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Nine research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $129.40.

DoorDash Price Performance

DASH stock traded down $13.39 during trading on Thursday, reaching $114.07. 14,278,992 shares of the stock traded hands, compared to its average volume of 3,780,676. The business’s 50 day moving average price is $132.16 and its 200-day moving average price is $109.84. DoorDash has a 52-week low of $60.36 and a 52-week high of $143.34. The firm has a market capitalization of $46.08 billion, a PE ratio of -78.87, a P/E/G ratio of 14.38 and a beta of 1.78.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. DoorDash had a negative return on equity of 8.49% and a negative net margin of 6.46%. The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter in the previous year, the business earned ($0.41) earnings per share. The firm’s quarterly revenue was up 23.5% compared to the same quarter last year. On average, equities research analysts predict that DoorDash will post 0.21 earnings per share for the current year.

Insider Activity

In other news, Director Shona L. Brown sold 700 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $109.71, for a total transaction of $76,797.00. Following the completion of the sale, the director now owns 71,514 shares in the company, valued at approximately $7,845,800.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Tony Xu sold 132,300 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $133.51, for a total value of $17,663,373.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shona L. Brown sold 700 shares of the business’s stock in a transaction that occurred on 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 directly owns 71,514 shares in the company, valued at $7,845,800.94. The disclosure for this sale can be found here. In the last 90 days, insiders sold 480,782 shares of company stock worth $63,130,157. Insiders own 9.59% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Several institutional investors and hedge funds have recently modified their holdings of the stock. Simplicity Solutions LLC grew its position in DoorDash by 7.0% in the third quarter. Simplicity Solutions LLC now owns 4,375 shares of the company’s stock worth $348,000 after acquiring an additional 285 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of DoorDash by 2.1% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 57,300 shares of the company’s stock worth $4,554,000 after acquiring an additional 1,200 shares in the last quarter. SVB Wealth LLC increased its holdings in shares of DoorDash by 17.0% during the 3rd quarter. SVB Wealth LLC now owns 10,043 shares of the company’s stock valued at $798,000 after acquiring an additional 1,458 shares during the last quarter. Xponance Inc. increased its holdings in shares of DoorDash by 4.3% during the 3rd quarter. Xponance Inc. now owns 36,951 shares of the company’s stock valued at $2,936,000 after acquiring an additional 1,517 shares during the last quarter. Finally, Raymond James & Associates raised its stake in shares of DoorDash by 62.3% in the 3rd quarter. Raymond James & Associates now owns 12,551 shares of the company’s stock valued at $997,000 after acquiring an additional 4,820 shares in the last quarter. 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.