DoorDash (NASDAQ:DASH) Cut to “Hold” at Zacks Research

Zacks Research cut shares of DoorDash (NASDAQ:DASH) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

DASH has been the topic of a number of other reports. UBS Group decreased their target price on shares of DoorDash from $316.00 to $241.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Oppenheimer reaffirmed an “outperform” rating and issued a $280.00 price target on shares of DoorDash in a report on Thursday, November 6th. The Goldman Sachs Group reduced their price objective on DoorDash from $315.00 to $279.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Benchmark upped their target price on DoorDash from $315.00 to $320.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Finally, Wells Fargo & Company cut their target price on DoorDash from $301.00 to $239.00 and set an “equal weight” rating for the company in a research note on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $279.74.

DoorDash Stock Down 2.1%

NASDAQ DASH opened at $196.51 on Monday. The business has a fifty day moving average price of $256.01 and a 200 day moving average price of $237.98. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.04 and a current ratio of 2.04. The company has a market cap of $83.95 billion, a P/E ratio of 99.75 and a beta of 1.70. DoorDash has a one year low of $155.40 and a one year high of $285.50.

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

Insider Transactions at DoorDash

In other news, CFO Ravi Inukonda sold 1,425 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $263.86, for a total value of $376,000.50. Following the transaction, the chief financial officer directly owned 214,147 shares in the company, valued at approximately $56,504,827.42. This represents a 0.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Andy Fang sold 30,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $244.39, for a total transaction of $7,331,700.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 825,277 shares of company stock worth $205,015,591 in the last 90 days. Insiders own 5.83% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Gilbert & Cook Inc. raised its holdings in shares of DoorDash by 2.6% in the 2nd quarter. Gilbert & Cook Inc. now owns 1,685 shares of the company’s stock valued at $415,000 after buying an additional 42 shares during the period. Resonant Capital Advisors LLC grew its position in 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 acquiring an additional 42 shares in the last quarter. Premier Path Wealth Partners LLC increased its stake in DoorDash by 1.9% during the third quarter. Premier Path Wealth Partners LLC now owns 2,414 shares of the company’s stock worth $657,000 after purchasing an additional 45 shares during the period. Perigon Wealth Management LLC lifted its position in shares of 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 purchasing an additional 46 shares in the last quarter. Finally, Advisory Resource Group boosted its stake in shares of 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 purchasing an additional 48 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.