DoorDash (NASDAQ:DASH) Stock Price Target Cut by Rosenblatt Securities

DoorDash (NASDAQ:DASH) had its price target dropped by research analysts at Rosenblatt Securities from $270.00 to $225.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Rosenblatt Securities‘s price objective indicates a potential upside of 25.06% from the company’s current price.

DASH has been the topic of a number of other research reports. JPMorgan Chase & Co. upped their target price on DoorDash from $250.00 to $262.00 in a research note on Wednesday, August 5th. BTIG Research reiterated a “buy” rating and set a $225.00 price target on shares of DoorDash in a research report on Wednesday, October 21st. Zacks Research upgraded DoorDash from a “strong sell” rating to a “hold” rating in a research report on Monday, August 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $240.00 price target on shares of DoorDash in a report on Friday, October 30th. Finally, Barclays lowered their price objective on DoorDash from $230.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.66.

DoorDash Price Performance

NASDAQ:DASH opened at $179.92 on Friday. DoorDash has a one year low of $143.30 and a one year high of $239.00. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.37 and a current ratio of 1.46. The firm has a market cap of $77.96 billion, a price-to-earnings ratio of 74.35 and a beta of 1.98. The firm’s fifty day moving average is $194.42 and its two-hundred day moving average is $182.64.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Thursday, October 29th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.25. The company had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.56 billion. DoorDash had a return on equity of 10.40% and a net margin of 6.23%. The firm’s revenue for the quarter was up 34.0% compared to the same quarter last year. During the same period last year, the firm earned $0.55 EPS. Research analysts expect that DoorDash will post 2.68 EPS for the current year.

Insiders Place Their Bets

In other news, Director Andy Fang sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $228.31, for a total transaction of $3,424,650.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Tony Xu sold 29,567 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $230.00, for a total value of $6,800,410.00. Following the sale, the chief executive officer owned 1,500 shares in the company, valued at $345,000. This trade represents a 95.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 349,430 shares of company stock valued at $76,644,002. Insiders own 44.90% of the company’s stock.

Hedge Funds Weigh In On DoorDash

A number of large investors have recently bought and sold shares of the business. Janus Henderson Group PLC grew its holdings in DoorDash by 40.2% in the first quarter. Janus Henderson Group PLC now owns 7,762,553 shares of the company’s stock valued at $1,159,377,000 after purchasing an additional 2,225,954 shares during the period. Temasek Holdings Private Ltd increased its position in shares of DoorDash by 49.4% in the first quarter. Temasek Holdings Private Ltd now owns 3,461,501 shares of the company’s stock valued at $519,744,000 after buying an additional 1,145,078 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of DoorDash by 2,304.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 3,452,110 shares of the company’s stock worth $633,635,000 after buying an additional 3,308,512 shares during the period. Bank of America Corp DE raised its stake in shares of DoorDash by 18.4% during the 1st quarter. Bank of America Corp DE now owns 3,449,266 shares of the company’s stock worth $517,907,000 after buying an additional 536,080 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of DoorDash by 372.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,137,719 shares of the company’s stock worth $575,928,000 after buying an additional 2,472,980 shares during the period. 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 and Lyft introduced Lyft Go, a $9.99 monthly membership that includes DashPass and gives Lyft riders 8% credits toward future rides or DoorDash orders. The bundle could broaden DashPass adoption and encourage use across both platforms, although its financial contribution is not yet known. Lyft Debuts Joint Membership Program With DoorDash
• Neutral Sentiment: DoorDash is pairing its membership push with $12 meal boxes in a multi-city rollout, aiming to appeal to value-conscious customers. The move may support order growth, but the articles do not indicate its effect on margins. Why Is DoorDash Pairing a New Membership With $12 Meal Boxes?
• Negative Sentiment: The proposed $17 billion Instacart deal is prompting skepticism from some small grocers and questions about whether the combined business can compete with Amazon and Walmart. Deal execution and regulatory uncertainty could weigh on sentiment. Grocers Push Back on DoorDash’s Instacart Deal Can a DoorDash-Instacart Fusion Stand Up to Amazon and Walmart?
• Negative Sentiment: Director Stanley Tang sold 23,125 shares, cutting his direct holdings by about 69%. The sale was made under a pre-arranged Rule 10b5-1 plan, which may make it less informative as a signal about his outlook, but could still unsettle investors. DoorDash Director Stanley Tang Sells 23,125 Shares

DoorDash Company Profile

DoorDash, Inc (NASDAQ:DASH) operates a local commerce platform that connects consumers with restaurants, grocery stores, convenience retailers and other merchants. Through its website and mobile applications, customers can browse products, place orders for delivery or pickup, and access related services.

The company provides merchants with ordering, delivery, logistics, marketing and payment tools. Its offerings include the DoorDash Marketplace, subscription programs such as DashPass, and delivery infrastructure that merchants can use through services including DoorDash Drive.