DoorDash (NASDAQ:DASH) Price Target Cut to $165.00 by Analysts at Royal Bank of Canada

DoorDash (NASDAQ:DASH) had its target price lowered by stock analysts at Royal Bank of Canada from $175.00 to $165.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 49.29% from the company’s current price.

A number of other equities research analysts have also issued reports on DASH. BMO Capital Markets boosted their price target on shares of DoorDash from $120.00 to $138.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Truist Financial boosted their price objective on shares of DoorDash from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Wells Fargo & Company boosted their price objective on shares of DoorDash from $100.00 to $125.00 and gave the company an “equal weight” rating in a research report on Thursday, April 4th. Benchmark assumed coverage on shares of DoorDash in a research report on Thursday, April 4th. They set a “buy” rating and a $165.00 price objective on the stock. Finally, Jefferies Financial Group raised shares of DoorDash from a “hold” rating to a “buy” rating and boosted their price objective for the company from $90.00 to $130.00 in a research report on Monday, January 8th. Nine equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and an average price target of $129.68.

DoorDash Stock Down 13.3 %

Shares of DASH stock traded down $16.94 during trading hours on Thursday, reaching $110.52. 8,946,557 shares of the stock traded hands, compared to its average volume of 3,719,476. DoorDash has a 1-year low of $60.36 and a 1-year high of $143.34. The business has a fifty day moving average price of $131.90 and a 200 day moving average price of $109.72. The firm has a market capitalization of $44.65 billion, a PE ratio of -77.34, a PEG ratio of 14.38 and a beta of 1.78.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.24). DoorDash had a negative net margin of 6.46% and a negative return on equity of 8.49%. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the prior year, the firm earned ($0.63) EPS. The firm’s revenue was up 26.7% compared to the same quarter last year. Research analysts expect that DoorDash will post 0.21 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In other news, CEO Tony Xu sold 132,300 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $133.51, for a total value of $17,663,373.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other DoorDash news, Director Shona L. Brown sold 700 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $109.71, for a total transaction of $76,797.00. Following the sale, the director now owns 71,514 shares of the company’s stock, valued at approximately $7,845,800.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 132,300 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $133.51, for a total transaction of $17,663,373.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 480,782 shares of company stock valued at $63,130,157. 9.59% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Spire Wealth Management bought a new position in shares of DoorDash in the 1st quarter valued at about $25,000. Venturi Wealth Management LLC raised its position in shares of DoorDash by 54.5% in the 1st quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock valued at $35,000 after acquiring an additional 90 shares during the period. Hollencrest Capital Management acquired a new stake in shares of DoorDash in the 1st quarter valued at approximately $42,000. Parkside Financial Bank & Trust raised its position in shares of DoorDash by 361.2% in the 4th quarter. Parkside Financial Bank & Trust now owns 392 shares of the company’s stock valued at $39,000 after acquiring an additional 307 shares during the period. Finally, Fifth Third Bancorp raised its position in shares of DoorDash by 448.8% in the 3rd quarter. Fifth Third Bancorp now owns 439 shares of the company’s stock valued at $35,000 after acquiring an additional 359 shares during the period. 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.