Cantor Fitzgerald Has Lowered Expectations for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASHGet Free Report) had its price objective reduced by equities researchers at Cantor Fitzgerald from $285.00 to $230.00 in a research report issued on Thursday, MarketBeat reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 32.66% from the company’s current price.

A number of other brokerages also recently issued reports on DASH. BMO Capital Markets reissued an “outperform” rating on shares of DoorDash in a research report on Friday, December 12th. Zacks Research raised DoorDash from a “strong sell” rating to a “hold” rating in a report on Thursday, February 12th. The Goldman Sachs Group set a $267.00 price target on DoorDash in a research report on Monday, February 2nd. Susquehanna lowered their price objective on DoorDash from $300.00 to $250.00 and set a “positive” rating on the stock in a research report on Friday, November 7th. Finally, BNP Paribas Exane assumed coverage on DoorDash in a research note on Wednesday, January 14th. They set an “outperform” rating and a $280.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $269.15.

Check Out Our Latest Stock Analysis on DASH

DoorDash Price Performance

NASDAQ DASH opened at $173.38 on Thursday. The company has a 50-day moving average price of $209.66 and a 200-day moving average price of $232.23. DoorDash has a 52 week low of $155.40 and a 52 week high of $285.50. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $74.73 billion, a P/E ratio of 88.01 and a beta of 1.77.

DoorDash (NASDAQ:DASHGet Free Report) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.10). DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The business had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.98 billion. During the same period in the previous year, the business posted $0.33 EPS. The business’s quarterly revenue was up 37.7% compared to the same quarter last year. Equities research analysts anticipate that DoorDash will post 2.22 earnings per share for the current year.

Insider Activity at DoorDash

In other DoorDash news, COO Prabir Adarkar sold 15,000 shares of the stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $204.59, for a total transaction of $3,068,850.00. Following the completion of the sale, the chief operating officer directly owned 874,130 shares of the company’s stock, valued at $178,838,256.70. This trade represents a 1.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Tony Xu sold 16,667 shares of DoorDash stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $230.00, for a total value of $3,833,410.00. Following the completion of the sale, the chief executive officer directly owned 1,500 shares in the company, valued at approximately $345,000. The trade was a 91.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 315,725 shares of company stock worth $67,969,184 in the last three months. Corporate insiders own 5.83% of the company’s stock.

Institutional Trading of DoorDash

A number of large investors have recently made changes to their positions in the business. Physician Wealth Advisors Inc. increased its stake in DoorDash by 284.0% during the third quarter. Physician Wealth Advisors Inc. now owns 96 shares of the company’s stock worth $26,000 after acquiring an additional 71 shares during the last quarter. Eastern Bank increased its position in shares of DoorDash by 714.3% during the 4th quarter. Eastern Bank now owns 114 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares during the last quarter. Swiss RE Ltd. purchased a new stake in DoorDash during the 4th quarter valued at $28,000. ST Germain D J Co. Inc. bought a new stake in DoorDash in the fourth quarter worth $29,000. Finally, Kemnay Advisory Services Inc. purchased a new position in DoorDash during the fourth quarter worth $32,000. 90.64% of the stock is currently owned by institutional investors.

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About DoorDash

(Get Free Report)

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.

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Analyst Recommendations for DoorDash (NASDAQ:DASH)

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