DoorDash (NASDAQ:DASH) Given New $127.00 Price Target at BMO Capital Markets

DoorDash (NASDAQ:DASH) had its price target dropped by BMO Capital Markets from $138.00 to $127.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price objective suggests a potential upside of 14.09% from the company’s previous close.

DASH has been the topic of several other research reports. JMP Securities lifted their target price on DoorDash from $130.00 to $160.00 and gave the company a “market outperform” rating in a research note on Wednesday, March 27th. Jefferies Financial Group upgraded shares of DoorDash from a “hold” rating to a “buy” rating and lifted their price objective for the company from $90.00 to $130.00 in a research report on Monday, January 8th. Royal Bank of Canada lowered their target price on shares of DoorDash from $175.00 to $165.00 and set an “outperform” rating on the stock in a report on Thursday. Wedbush reaffirmed a “neutral” rating and set a $115.00 target price on shares of DoorDash in a research note on Thursday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $137.00 price target on shares of DoorDash in a research note on Thursday. Nine investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.24.

DoorDash Price Performance

Shares of DASH traded down $16.14 on Thursday, reaching $111.32. The company’s stock had a trading volume of 9,603,682 shares, compared to its average volume of 3,719,476. The stock’s 50 day simple moving average is $131.90 and its two-hundred day simple moving average is $109.72. The stock has a market capitalization of $44.97 billion, a P/E ratio of -77.29, a PEG ratio of 14.38 and a beta of 1.78. DoorDash has a 12-month low of $60.36 and a 12-month high of $143.34.

DoorDash (NASDAQ:DASH) last released its earnings results on Thursday, February 15th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.24). The firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.25 billion. DoorDash had a negative return on equity of 8.49% and a negative net margin of 6.46%. DoorDash’s revenue was up 26.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.63) EPS. Analysts expect that DoorDash will post 0.21 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Shona L. Brown sold 700 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 71,514 shares of the company’s stock, valued at $7,845,800.94. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, General Counsel Tia Sherringham sold 1,880 shares of DoorDash stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $120.15, for a total transaction of $225,882.00. Following the completion of the sale, the general counsel now owns 217,260 shares in the company, valued at approximately $26,103,789. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Shona L. Brown sold 700 shares of the business’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 completion of the sale, the director now directly owns 71,514 shares of the company’s stock, valued at $7,845,800.94. The disclosure for this sale can be found here. Insiders sold a total of 480,782 shares of company stock valued at $63,130,157 over the last 90 days. Insiders own 9.59% of the company’s stock.

Institutional Trading of DoorDash

Institutional investors and hedge funds have recently modified their holdings of the stock. Spire Wealth Management bought a new position in DoorDash in the first quarter worth approximately $25,000. Fifth Third Bancorp grew its position in shares of DoorDash by 448.8% during the 3rd 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 grew its position in shares of 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 buying an additional 90 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of DoorDash by 361.2% during the fourth quarter. Parkside Financial Bank & Trust now owns 392 shares of the company’s stock valued at $39,000 after buying an additional 307 shares during the period. Finally, Covestor Ltd raised its holdings in shares of DoorDash by 101.2% in the third quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $40,000 after acquiring an additional 253 shares in the last quarter. Institutional investors 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.