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

DoorDash (NASDAQ:DASH) had its price objective decreased by The Goldman Sachs Group from $315.00 to $279.00 in a report issued on Friday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other equities analysts have also commented on the company. Cantor Fitzgerald lowered their price objective on DoorDash from $330.00 to $270.00 and set an “overweight” rating on the stock in a research note on Thursday. Guggenheim raised DoorDash to a “strong-buy” rating in a report on Wednesday, October 15th. Oppenheimer reaffirmed an “outperform” rating and issued a $280.00 price target on shares of DoorDash in a research note on Thursday. Truist Financial upped their price objective on shares of DoorDash from $326.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Finally, Jefferies Financial Group increased their price objective on shares of DoorDash from $265.00 to $280.00 and gave the stock a “hold” rating in a research note on Friday, October 17th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and a consensus target price of $280.62.

DoorDash Stock Performance

NASDAQ DASH opened at $204.31 on Friday. The firm has a 50-day moving average price of $258.75 and a two-hundred day moving average price of $238.06. DoorDash has a 12-month low of $155.40 and a 12-month high of $285.50. The company 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 quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.29.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, November 5th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.13). The business had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.35 billion. DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The firm’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.38 earnings per share. Analysts anticipate that DoorDash will post 2.22 earnings per share for the current year.

Insiders Place Their Bets

In other DoorDash news, CEO Tony Xu sold 291,403 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total transaction of $69,409,280.57. Following the completion of the transaction, the chief executive officer owned 229,047 shares of the company’s stock, valued at approximately $54,556,704.93. The trade was a 55.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andy Fang sold 30,000 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $243.32, for a total transaction of $7,299,600.00. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 825,277 shares of company stock worth $205,015,591. Insiders own 5.83% of the company’s stock.

Institutional Trading of DoorDash

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of DoorDash by 3.7% during the third quarter. Vanguard Group Inc. now owns 42,712,908 shares of the company’s stock worth $11,617,484,000 after buying an additional 1,522,823 shares in the last quarter. State Street Corp grew its position in DoorDash by 3.1% during the 2nd quarter. State Street Corp now owns 14,387,499 shares of the company’s stock worth $3,546,662,000 after acquiring an additional 427,722 shares during the last quarter. Geode Capital Management LLC increased its holdings 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 in the last quarter. Invesco Ltd. raised its position in DoorDash by 12.0% in the second quarter. Invesco Ltd. now owns 5,375,480 shares of the company’s stock valued at $1,325,110,000 after purchasing an additional 575,629 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in DoorDash by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company’s stock valued at $897,031,000 after purchasing an additional 641,601 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

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.