DoorDash (NASDAQ:DASH) Stock Gets Price Target Trim from Cantor Fitzgerald

DoorDash (NASDAQ:DASH) had its price target trimmed by Cantor Fitzgerald from $260.00 to $240.00 in a report published on Monday, MarketBeat Ratings reports. The firm currently has an overweight rating on the stock.

DASH has been the subject of a number of other reports. Truist Financial raised their target price on DoorDash from $330.00 to $336.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Roth Capital boosted their price target on shares of DoorDash from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. The Goldman Sachs Group reduced their price target on shares of DoorDash from $280.00 to $275.00 in a research report on Thursday, August 6th. Loop Capital increased their price target on shares of DoorDash from $225.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, September 22nd. Finally, Piper Sandler reissued a “neutral” rating and issued a $220.00 price objective (up from $205.00) on shares of DoorDash in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $254.95.

DoorDash Trading Down 4.7%

DASH opened at $184.01 on Monday. DoorDash has a 52 week low of $143.30 and a 52 week high of $285.50. The business has a fifty day simple moving average of $205.78 and a 200-day simple moving average of $183.57. The firm has a market cap of $79.73 billion, a P/E ratio of 96.34 and a beta of 1.90. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The firm had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same period in the previous year, the firm posted $0.65 earnings per share. The company’s quarterly revenue was up 35.6% compared to the same quarter last year. On average, equities analysts expect that DoorDash will post 2.51 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Stanley Tang sold 23,125 shares of the stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $186.19, for a total value of $4,305,643.75. Following the sale, the director directly owned 10,361 shares in the company, valued at approximately $1,929,114.59. This trade represents a 69.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ravi Inukonda sold 1,017 shares of DoorDash stock in a transaction on Monday, October 12th. The shares were sold at an average price of $195.00, for a total value of $198,315.00. Following the completion of the transaction, the chief financial officer owned 217,911 shares of the company’s stock, valued at approximately $42,492,645. This trade represents a 0.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 393,998 shares of company stock valued at $85,861,330. 44.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On DoorDash

A number of hedge funds have recently bought and sold shares of DASH. Birchbrook Inc. grew its stake in shares of DoorDash by 20,000.0% during the third quarter. Birchbrook Inc. now owns 402 shares of the company’s stock worth $74,000 after purchasing an additional 400 shares in the last quarter. Mather Group LLC. increased its holdings in DoorDash by 620.9% in the third quarter. Mather Group LLC. now owns 6,229 shares of the company’s stock valued at $1,143,000 after buying an additional 5,365 shares during the last quarter. Godsey & Gibb Inc. increased its holdings in DoorDash by 1,510,137.1% in the third quarter. Godsey & Gibb Inc. now owns 528,583 shares of the company’s stock valued at $97,021,000 after buying an additional 528,548 shares during the last quarter. Western Financial Corp CA increased its holdings in DoorDash by 447.3% in the third quarter. Western Financial Corp CA now owns 6,557 shares of the company’s stock valued at $1,204,000 after buying an additional 5,359 shares during the last quarter. Finally, Triumph Capital Management raised its stake in DoorDash by 2,212.5% in the third quarter. Triumph Capital Management now owns 370 shares of the company’s stock valued at $68,000 after buying an additional 354 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash News Roundup

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash is partnering with Woolworths Group to bring BIG W to its Australian marketplace, offering more than 35,000 everyday products with delivery in as little as 60 minutes. The agreement expands DoorDash’s retail selection and supports its strategy of increasing order frequency beyond restaurant delivery. BIG W Lands on DoorDash App
• Positive Sentiment: DoorDash launched an on-demand delivery collaboration with SKIMS, giving customers access to apparel and related products. The partnership, supported by Kim Kardashian-focused marketing, could improve consumer awareness of DoorDash’s non-food offerings. SKIMS and DoorDash Partnership
• Positive Sentiment: DoorDash is expanding into Geraldton, Kalgoorlie and Horsham in Australia, indicating continued investment in regional coverage and potential long-term marketplace growth. DoorDash Regional Australian Expansion

About DoorDash

DoorDash, Inc is a technology company that operates a local commerce platform connecting consumers with restaurants, grocery stores, convenience retailers and other merchants. Through its DoorDash app and website, customers can discover businesses, place orders for delivery or pickup, and access related services. The company also provides merchants with tools for online ordering, logistics, customer engagement, advertising and business analytics.

DoorDash generates additional activity through subscription programs such as DashPass, which provides participating customers with delivery-related benefits, and through its logistics and commerce solutions for merchants.