DoorDash (NASDAQ:DASH) PT Lowered to $150.00 at Benchmark

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

DASH has been the subject of a number of other reports. Truist Financial increased their target price on DoorDash from $140.00 to $155.00 and gave the stock a buy rating in a research note on Wednesday, March 27th. The Goldman Sachs Group upped their price target on shares of DoorDash from $109.00 to $122.00 and gave the stock a neutral rating in a research note on Friday, February 16th. BMO Capital Markets raised their price objective on shares of DoorDash from $120.00 to $138.00 and gave the company an outperform rating in a research note on Friday, February 16th. UBS Group lowered their target price on shares of DoorDash from $123.00 to $118.00 and set a neutral rating on the stock in a research report on Friday, February 16th. Finally, Piper Sandler upgraded shares of DoorDash from an underweight rating to a neutral rating and lifted their price target for the company from $53.00 to $127.00 in a research report on Friday, March 15th. Nine equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, DoorDash has a consensus rating of Moderate Buy and a consensus price target of $129.96.

DoorDash Trading Down 0.4 %

Shares of DASH stock opened at $113.81 on Thursday. DoorDash has a twelve month low of $60.36 and a twelve month high of $143.34. The business’s 50 day moving average is $131.86 and its two-hundred day moving average is $110.63.

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

Insider Activity at DoorDash

In other DoorDash news, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $130.95, for a total value of $916,650.00. Following the transaction, 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 can be accessed through the SEC website. In other news, CEO Tony Xu sold 132,300 shares of the firm’s stock in a transaction 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Ravi Inukonda sold 7,000 shares of the company’s 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 sale, the chief financial officer now directly owns 384,425 shares of the company’s stock, valued at $50,340,453.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 487,782 shares of company stock worth $64,046,807. 9.59% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Versor Investments LP acquired a new stake in shares of DoorDash in the third quarter valued at about $556,000. Assenagon Asset Management S.A. grew its position in DoorDash by 1,725.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock valued at $110,082,000 after acquiring an additional 1,052,198 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of DoorDash during the fourth quarter valued at approximately $769,000. Angeles Investment Advisors LLC acquired a new position in shares of DoorDash during the third quarter worth $336,000. Finally, Bank of Nova Scotia grew its holdings in DoorDash by 685.9% during the 3rd quarter. Bank of Nova Scotia now owns 46,751 shares of the company’s stock valued at $3,715,000 after purchasing an additional 40,802 shares in the last quarter. 90.64% of the stock is 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.