DoorDash (NASDAQ:DASH) Price Target Lowered to $275.00 at KeyCorp

DoorDash (NASDAQ:DASH) had its price objective decreased by KeyCorp from $280.00 to $275.00 in a research note released on Tuesday morning, MarketBeat Ratings reports. KeyCorp currently has an overweight rating on the stock.

A number of other research firms have also issued reports on DASH. The Goldman Sachs Group reduced their target price on shares of DoorDash from $315.00 to $279.00 and set a “buy” rating for the company in a research note on Friday, November 7th. UBS Group set a $275.00 price target on DoorDash in a report on Tuesday. Citigroup reiterated a “market outperform” rating on shares of DoorDash in a research report on Monday, November 24th. Royal Bank Of Canada decreased their price objective on DoorDash from $300.00 to $270.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Finally, Wells Fargo & Company lifted their target price on DoorDash from $239.00 to $251.00 and gave the company an “equal weight” rating in a research note on Thursday, January 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus target price of $278.84.

DoorDash Price Performance

Shares of DASH opened at $205.67 on Tuesday. DoorDash has a 12 month low of $155.40 and a 12 month high of $285.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.04 and a quick ratio of 2.04. The stock has a fifty day moving average price of $216.63 and a 200 day moving average price of $239.91. The company has a market cap of $88.64 billion, a P/E ratio of 104.40 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last posted 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). The company had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.35 billion. DoorDash had a net margin of 6.83% and a return on equity of 9.97%. The business’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 earnings per share. On average, research analysts forecast that DoorDash will post 2.22 earnings per share for the current year.

Insider Activity

In related news, CEO Tony Xu sold 288,410 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $196.04, for a total transaction of $56,539,896.40. Following the completion of the transaction, the chief executive officer owned 232,040 shares of the company’s stock, valued at $45,489,121.60. This trade represents a 55.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $205.07, for a total value of $9,312,228.70. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 617,885 shares of company stock worth $130,153,967 in the last quarter. 5.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DoorDash

Several large investors have recently made changes to their positions in the business. Greenland Capital Management LP increased its position in shares of DoorDash by 637.5% in the second quarter. Greenland Capital Management LP now owns 23,572 shares of the company’s stock worth $5,811,000 after acquiring an additional 20,376 shares in the last quarter. Geode Capital Management LLC boosted its stake in DoorDash by 2.9% in the 2nd quarter. Geode Capital Management LLC now owns 7,951,230 shares of the company’s stock worth $1,950,711,000 after purchasing an additional 223,188 shares during the period. Williamson Legacy Group LLC purchased a new position in DoorDash during the 2nd quarter worth approximately $1,264,000. Brighton Jones LLC grew its position in DoorDash by 24.0% during the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock worth $1,566,000 after purchasing an additional 1,807 shares in the last quarter. Finally, Summit Global Investments acquired a new stake in DoorDash during the 2nd quarter valued at $830,000. Institutional investors own 90.64% of the company’s stock.

DoorDash Company Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.