Roth Mkm Lowers DoorDash (NASDAQ:DASH) Price Target to $118.00

DoorDash (NASDAQ:DASH) had its price target cut by research analysts at Roth Mkm from $121.00 to $118.00 in a report released on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Roth Mkm’s target price indicates a potential upside of 3.68% from the stock’s previous close.

A number of other research firms have also recently commented on DASH. Wells Fargo & Company increased their target price on DoorDash from $100.00 to $125.00 and gave the company an “equal weight” rating in a research note on Thursday, April 4th. Jefferies Financial Group raised DoorDash from a “hold” rating to a “buy” rating and upped their target price for the stock from $90.00 to $130.00 in a research note on Monday, January 8th. Loop Capital began coverage on shares of DoorDash in a research note on Friday, April 19th. They set a “buy” rating and a $170.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of DoorDash from $108.00 to $111.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, JMP Securities decreased their price target on shares of DoorDash from $160.00 to $140.00 and set a “market outperform” rating on the stock in a research note on Thursday. Nine research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $129.96.

DoorDash Stock Performance

DoorDash stock traded down $0.50 during midday trading on Thursday, reaching $113.81. 6,210,790 shares of the stock were exchanged, compared to its average volume of 4,293,060. The company’s fifty day moving average is $131.86 and its 200-day moving average is $110.13. The firm has a market cap of $45.98 billion, a PE ratio of -105.38, a PEG ratio of 13.13 and a beta of 1.78. DoorDash has a 52 week low of $60.36 and a 52 week high of $143.34.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.45 billion. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The business’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.41) EPS. On average, sell-side analysts anticipate that DoorDash will post 0.21 earnings per share for the current fiscal year.

Insider Buying and Selling at DoorDash

In other DoorDash news, CAO Gordon S. Lee sold 1,000 shares of the business’s 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 transaction, the chief accounting officer now directly owns 92,207 shares of the company’s stock, valued at approximately $11,479,771.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other DoorDash news, CAO Gordon S. Lee sold 1,000 shares of the business’s 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 transaction, the chief accounting officer now directly owns 92,207 shares of the company’s stock, valued at approximately $11,479,771.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $130.95, for a total transaction of $916,650.00. Following the sale, the chief financial officer now owns 384,425 shares in the company, valued at approximately $50,340,453.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 487,782 shares of company stock valued at $64,046,807. 9.59% of the stock is currently owned by company insiders.

Institutional Trading of DoorDash

A number of hedge funds have recently modified their holdings of DASH. Simplicity Solutions LLC boosted its holdings in shares of DoorDash by 7.0% during the 3rd quarter. Simplicity Solutions LLC now owns 4,375 shares of the company’s stock valued at $348,000 after buying an additional 285 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in DoorDash by 2.1% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 57,300 shares of the company’s stock worth $4,554,000 after purchasing an additional 1,200 shares in the last quarter. SVB Wealth LLC boosted its stake in DoorDash by 17.0% in the 3rd quarter. SVB Wealth LLC now owns 10,043 shares of the company’s stock worth $798,000 after purchasing an additional 1,458 shares in the last quarter. Xponance Inc. boosted its stake in DoorDash by 4.3% in the 3rd quarter. Xponance Inc. now owns 36,951 shares of the company’s stock worth $2,936,000 after purchasing an additional 1,517 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in DoorDash by 62.3% in the 3rd quarter. Raymond James & Associates now owns 12,551 shares of the company’s stock worth $997,000 after purchasing an additional 4,820 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

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.