DoorDash (NASDAQ:DASH) Lowered to “Hold” Rating by Zacks Research

Zacks Research cut shares of DoorDash (NASDAQ:DASH) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other equities research analysts have also weighed in on DASH. JMP Securities increased their target price on shares of DoorDash from $250.00 to $335.00 and gave the stock a “market outperform” rating in a report on Thursday, August 7th. JPMorgan Chase & Co. lowered their price target on shares of DoorDash from $325.00 to $300.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Bank of America decreased their price target on shares of DoorDash from $325.00 to $305.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Jefferies Financial Group raised their target price on shares of DoorDash from $265.00 to $280.00 and gave the stock a “hold” rating in a report on Friday, October 17th. Finally, Cantor Fitzgerald cut their target price on shares of DoorDash from $330.00 to $270.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and an average target price of $279.74.

DoorDash Stock Performance

Shares of DoorDash stock traded down $2.97 on Monday, reaching $197.66. 1,055,568 shares of the company were exchanged, compared to its average volume of 4,425,754. The company’s 50-day moving average is $257.06 and its two-hundred day moving average is $238.27. The firm has a market cap of $84.44 billion, a price-to-earnings ratio of 100.33 and a beta of 1.70. DoorDash has a 1-year low of $155.40 and a 1-year high of $285.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.04 and a current ratio of 2.04.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The firm had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same quarter last year, the company earned $0.38 earnings per share. The business’s revenue for the quarter was up 27.3% on a year-over-year basis. As a group, research analysts expect that DoorDash will post 2.22 earnings per share for the current fiscal year.

Insider Activity at DoorDash

In other DoorDash news, COO Prabir Adarkar sold 41,881 shares of DoorDash stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the completion of the transaction, the chief operating officer owned 914,547 shares in the company, valued at approximately $224,813,943.54. The trade was a 4.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Andy Fang sold 30,000 shares of DoorDash stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $243.32, for a total value of $7,299,600.00. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 825,277 shares of company stock worth $205,015,591. 5.83% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DoorDash

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of DoorDash by 25.8% during the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock worth $7,200,642,000 after buying an additional 8,073,882 shares during the last quarter. Norges Bank bought a new position in shares of DoorDash during the 2nd quarter worth approximately $1,185,576,000. AQR Capital Management LLC lifted its stake in DoorDash by 442.5% in the first quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company’s stock valued at $321,799,000 after acquiring an additional 1,497,636 shares during the last quarter. Invesco Ltd. lifted its position in DoorDash by 41.9% during the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company’s stock worth $877,269,000 after acquiring an additional 1,416,194 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in DoorDash during the first quarter worth approximately $211,415,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

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.