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

DoorDash (NASDAQ:DASH) had its price target reduced by BMO Capital Markets from $138.00 to $127.00 in a research report sent to investors on Thursday morning, Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

Several other brokerages also recently issued reports on DASH. Royal Bank of Canada cut their price objective on DoorDash from $175.00 to $165.00 and set an outperform rating for the company in a research report on Thursday. Wells Fargo & Company raised their price objective on DoorDash from $100.00 to $125.00 and gave the stock an equal weight rating in a report on Thursday, April 4th. JMP Securities upped 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. Susquehanna raised 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. Finally, Truist Financial cut their price objective on shares of DoorDash from $155.00 to $145.00 and set a buy rating on the stock in a report on Thursday. Nine analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $129.96.

DoorDash Stock Performance

DASH stock opened at $113.81 on Thursday. DoorDash has a one year low of $60.36 and a one year high of $143.34. The company has a fifty day moving average of $131.86 and a 200-day moving average of $110.63.

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

Insider Buying and Selling at DoorDash

In other news, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 384,425 shares in the company, valued at approximately $50,340,453.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Gordon S. Lee sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $124.50, for a total value of $124,500.00. Following the sale, the chief accounting officer now directly owns 92,207 shares in the company, valued at approximately $11,479,771.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $916,650.00. Following the completion of the transaction, the chief financial officer now directly owns 384,425 shares of the company’s stock, valued at approximately $50,340,453.75. The disclosure for this sale can be found here. Insiders sold a total of 487,782 shares of company stock worth $64,046,807 over the last 90 days. Insiders own 9.59% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of DoorDash during the 4th quarter worth about $264,806,000. Vanguard Group Inc. boosted its stake in DoorDash by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock valued at $2,897,823,000 after purchasing an additional 2,259,976 shares in the last quarter. Franklin Resources Inc. increased its position in shares of DoorDash by 294.5% during the 4th quarter. Franklin Resources Inc. now owns 1,607,776 shares of the company’s stock valued at $158,993,000 after purchasing an additional 1,200,181 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of DoorDash by 1,725.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock worth $110,082,000 after buying an additional 1,052,198 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in shares of DoorDash by 40,319.6% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,039,592 shares of the company’s stock worth $102,805,000 after buying an additional 1,037,020 shares in 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.