The Goldman Sachs Group Lowers DoorDash (NASDAQ:DASH) Price Target to $279.00

DoorDash (NASDAQ:DASH) had its price objective decreased by equities research analysts at The Goldman Sachs Group from $315.00 to $279.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 36.56% from the stock’s previous close.

DASH has been the topic of several other reports. Wells Fargo & Company reduced their price objective on DoorDash from $301.00 to $239.00 and set an “equal weight” rating on the stock in a research note on Thursday. DA Davidson restated a “neutral” rating and set a $260.00 price target on shares of DoorDash in a report on Thursday. Sanford C. Bernstein increased their price target on DoorDash from $210.00 to $265.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Mizuho set a $350.00 price objective on DoorDash and gave the stock an “outperform” rating in a research report on Monday, September 29th. Finally, Evercore ISI restated an “outperform” rating and set a $360.00 target price (up from $240.00) on shares of DoorDash in a research note on Friday, August 8th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $280.62.

DoorDash Trading Up 4.0%

Shares of DASH stock opened at $204.31 on Friday. DoorDash has a fifty-two week low of $155.40 and a fifty-two week high of $285.50. The company has a 50 day moving average price of $258.75 and a 200 day moving average price of $237.66. The stock has a market capitalization of $87.28 billion, a P/E ratio of 103.71 and a beta of 1.70. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.07 and a current ratio of 2.04.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The business had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same quarter last year, the company earned $0.38 earnings per share. DoorDash’s quarterly revenue was up 27.3% compared to the same quarter last year. Equities research analysts predict that DoorDash will post 2.22 EPS for the current fiscal year.

Insider Activity

In related news, CFO Ravi Inukonda sold 1,425 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $263.86, for a total value of $376,000.50. Following the completion of the transaction, the chief financial officer directly owned 214,147 shares of the company’s stock, valued at $56,504,827.42. This represents a 0.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Shona L. Brown sold 1,250 shares of the stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $277.47, for a total transaction of $346,837.50. Following the completion of the transaction, the director owned 37,252 shares in the company, valued at $10,336,312.44. This represents a 3.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 876,527 shares of company stock valued at $218,129,954 over the last 90 days. Insiders own 5.83% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Institutional investors and hedge funds have recently bought and sold shares of the stock. Gilbert & Cook Inc. increased its position in shares of DoorDash by 2.6% during the second quarter. Gilbert & Cook Inc. now owns 1,685 shares of the company’s stock worth $415,000 after purchasing an additional 42 shares in the last quarter. Resonant Capital Advisors LLC boosted its position in shares of DoorDash by 3.5% in the 3rd quarter. Resonant Capital Advisors LLC now owns 1,229 shares of the company’s stock valued at $334,000 after purchasing an additional 42 shares during the period. Premier Path Wealth Partners LLC grew its stake in DoorDash by 1.9% during the 3rd quarter. Premier Path Wealth Partners LLC now owns 2,414 shares of the company’s stock worth $657,000 after buying an additional 45 shares during the last quarter. Perigon Wealth Management LLC increased its position in DoorDash by 1.3% during the second quarter. Perigon Wealth Management LLC now owns 3,701 shares of the company’s stock worth $912,000 after buying an additional 46 shares during the period. Finally, Advisory Resource Group lifted its stake in DoorDash by 0.8% in the second quarter. Advisory Resource Group now owns 5,774 shares of the company’s stock valued at $1,423,000 after buying an additional 48 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

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.