Royal Bank Of Canada Has Lowered Expectations for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH) had its price target cut by investment analysts at Royal Bank Of Canada from $300.00 to $270.00 in a research report issued on Thursday, MarketBeat reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target points to a potential upside of 32.15% from the stock’s current price.

DASH has been the topic of several other research reports. Wedbush lowered their price objective on shares of DoorDash from $280.00 to $260.00 and set a “neutral” rating on the stock in a research report on Thursday. Evercore ISI reiterated an “outperform” rating and issued a $360.00 price objective (up from $240.00) on shares of DoorDash in a research note on Friday, August 8th. Wells Fargo & Company lowered their price target on shares of DoorDash from $306.00 to $301.00 and set an “equal weight” rating on the stock in a report on Friday, October 3rd. Guggenheim raised DoorDash to a “strong-buy” rating in a research note on Wednesday, October 15th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $280.00 target price on shares of DoorDash in a research note on Thursday. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $280.62.

DoorDash Stock Performance

NASDAQ DASH opened at $204.31 on Thursday. 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 current ratio of 2.04 and a quick ratio of 2.07. The company has a fifty day moving average price of $258.75 and a 200-day moving average price of $237.24. The firm has a market cap of $87.28 billion, a price-to-earnings ratio of 103.71 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, November 5th. The company reported $0.55 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $3.35 billion. During the same period in the prior year, the business earned $0.38 EPS. DoorDash’s quarterly revenue was up 27.3% compared to the same quarter last year. As a group, equities research analysts predict that DoorDash will post 2.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Prabir Adarkar sold 41,881 shares of the business’s stock in a transaction on 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 sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $243.31, for a total transaction of $11,048,707.10. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 876,527 shares of company stock worth $218,129,954. 5.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DoorDash

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DASH. Saudi Central Bank purchased a new position in shares of DoorDash in the first quarter worth $25,000. WPG Advisers LLC purchased a new stake in DoorDash in the 1st quarter worth $26,000. Physician Wealth Advisors Inc. boosted its holdings in shares of DoorDash by 284.0% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 96 shares of the company’s stock valued at $26,000 after purchasing an additional 71 shares during the last quarter. Pacific Center for Financial Services purchased a new position in shares of DoorDash during the first quarter valued at about $27,000. Finally, GFG Capital LLC purchased a new position in shares of DoorDash during the second quarter valued at about $30,000. 90.64% of the stock is owned by institutional investors.

About DoorDash

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.