Royal Bank of Canada Cuts DoorDash (NASDAQ:DASH) Price Target to $165.00

DoorDash (NASDAQ:DASH) had its target price trimmed by Royal Bank of Canada from $175.00 to $165.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

DASH has been the topic of a number of other research reports. Morgan Stanley upgraded shares of DoorDash from an equal weight rating to an overweight rating and upped their price objective for the stock from $135.00 to $145.00 in a report on Thursday, February 22nd. The Goldman Sachs Group upped their price target on DoorDash from $109.00 to $122.00 and gave the stock a neutral rating in a research note on Friday, February 16th. JMP Securities lifted their price objective on DoorDash from $130.00 to $160.00 and gave the company a market outperform rating in a research note on Wednesday, March 27th. Loop Capital began coverage on DoorDash in a report on Friday, April 19th. They issued a buy rating and a $170.00 target price on the stock. Finally, Jefferies Financial Group upgraded DoorDash from a hold rating to a buy rating and raised their price target for the company from $90.00 to $130.00 in a report on Monday, January 8th. Nine analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $129.96.

DoorDash Stock Performance

Shares of NASDAQ DASH traded down $0.50 during mid-day trading on Thursday, hitting $113.81. 6,210,790 shares of the stock traded hands, compared to its average volume of 4,293,060. The company has a market cap of $45.98 billion, a price-to-earnings ratio of -105.38, a PEG ratio of 13.07 and a beta of 1.78. The stock has a fifty day moving average price of $131.86 and a 200-day moving average price of $110.13. DoorDash has a 52 week low of $60.36 and a 52 week high of $143.34.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, May 1st. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $2.51 billion for 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 company’s quarterly revenue was up 23.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.41) EPS. As a group, sell-side analysts predict that DoorDash will post 0.17 EPS for the current fiscal year.

Insider Activity at DoorDash

In other DoorDash news, Director Shona L. Brown sold 700 shares of DoorDash stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $109.71, for a total value 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Shona L. Brown sold 700 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $109.71, for a total value of $76,797.00. Following the completion of the sale, the director now directly owns 71,514 shares in the company, valued at $7,845,800.94. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Andy Fang sold 66,195 shares of DoorDash stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $139.31, for a total transaction of $9,221,625.45. Following the transaction, the director now directly owns 36,482 shares of the company’s stock, valued at $5,082,307.42. The disclosure for this sale can be found here. Over the last three months, insiders sold 487,782 shares of company stock valued at $64,046,807. Insiders own 9.59% of the company’s stock.

Institutional Trading of DoorDash

Several institutional investors and hedge funds have recently made changes to their positions in DASH. Simplicity Solutions LLC increased its stake in DoorDash by 7.0% in the 3rd quarter. Simplicity Solutions LLC now owns 4,375 shares of the company’s stock worth $348,000 after buying an additional 285 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of DoorDash by 2.1% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 57,300 shares of the company’s stock valued at $4,554,000 after acquiring an additional 1,200 shares in the last quarter. SVB Wealth LLC boosted its holdings in shares of DoorDash by 17.0% in the third quarter. SVB Wealth LLC now owns 10,043 shares of the company’s stock valued at $798,000 after purchasing an additional 1,458 shares during the period. Xponance Inc. grew its stake in DoorDash by 4.3% in the third 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 increased its holdings in DoorDash by 62.3% during 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 during the period. 90.64% of the stock is currently owned by 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.