DoorDash (NASDAQ:DASH) Shares Gap Down Following Analyst Downgrade

DoorDash, Inc. (NASDAQ:DASH) shares gapped down prior to trading on Thursday after BMO Capital Markets lowered their price target on the stock from $138.00 to $127.00. The stock had previously closed at $127.46, but opened at $117.25. BMO Capital Markets currently has an outperform rating on the stock. DoorDash shares last traded at $112.21, with a volume of 5,822,627 shares trading hands.

Other research analysts have also recently issued research reports about the company. JMP Securities raised 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. Loop Capital began coverage on DoorDash in a research note on Friday, April 19th. They issued a “buy” rating and a $170.00 target price for the company. Royal Bank of Canada lowered their target price on DoorDash from $175.00 to $165.00 and set an “outperform” rating for the company in a research note on Thursday. Jefferies Financial Group upgraded DoorDash from a “hold” rating to a “buy” rating and upped their price target for the stock from $90.00 to $130.00 in a research note on Monday, January 8th. Finally, Mizuho lifted their price objective on DoorDash from $140.00 to $152.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Nine research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $129.84.

Insider Activity

In related news, CAO Gordon S. Lee sold 1,000 shares of the business’s stock in a transaction dated 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 $11,479,771.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other DoorDash news, CAO Gordon S. Lee sold 1,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $124.50, for a total transaction of $124,500.00. Following the completion of the transaction, the chief accounting officer now owns 92,207 shares in the company, valued at $11,479,771.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tony Xu sold 132,300 shares of DoorDash stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $131.96, for a total value of $17,458,308.00. The disclosure for this sale can be found here. Insiders sold a total of 480,782 shares of company stock worth $63,130,157 over the last 90 days. Corporate insiders own 9.59% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Large investors have recently bought and sold shares of the business. Gilbert & Cook Inc. bought a new stake in shares of DoorDash in the 1st quarter valued at about $266,000. Nordea Investment Management AB lifted its position in DoorDash by 5.7% during the first quarter. Nordea Investment Management AB now owns 19,071 shares of the company’s stock valued at $2,661,000 after acquiring an additional 1,022 shares during the last quarter. Hollencrest Capital Management acquired a new position in shares of DoorDash during the first quarter worth $42,000. Hussman Strategic Advisors Inc. acquired a new position in DoorDash during the 1st quarter valued at about $1,446,000. Finally, Broad Peak Investment Holdings Ltd. increased its holdings in shares of DoorDash by 16.8% during the first quarter. Broad Peak Investment Holdings Ltd. now owns 417,000 shares of the company’s stock valued at $57,429,000 after acquiring an additional 60,000 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

DoorDash Stock Performance

The business’s 50 day moving average is $132.16 and its 200 day moving average is $109.84. The company has a market capitalization of $45.22 billion, a price-to-earnings ratio of -77.71, a PEG ratio of 14.38 and a beta of 1.78.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. The firm had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.45 billion. DoorDash had a negative return on equity of 8.49% and a negative net margin of 6.46%. The firm’s revenue was up 23.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.41) EPS. Sell-side analysts predict that DoorDash, Inc. will post 0.21 EPS for the current year.

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.