DoorDash (NASDAQ:DASH) Price Target Lowered to $320.00 at Mizuho

DoorDash (NASDAQ:DASH) had its target price cut by Mizuho from $350.00 to $320.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s target price points to a potential upside of 59.50% from the company’s previous close.

DASH has been the topic of several other research reports. UBS Group cut their target price on DoorDash from $316.00 to $241.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Evercore ISI reaffirmed an “outperform” rating and set a $360.00 price objective (up from $240.00) on shares of DoorDash in a research note on Friday, August 8th. Wedbush lowered their price objective on shares of DoorDash from $280.00 to $260.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Cantor Fitzgerald reduced their target price on DoorDash from $330.00 to $270.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Finally, Bank of America lowered their price target on shares of DoorDash from $325.00 to $305.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $279.74.

DoorDash Stock Performance

NASDAQ:DASH opened at $200.63 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.29. The stock has a 50 day simple moving average of $257.06 and a 200 day simple moving average of $238.27. DoorDash has a 1-year low of $155.40 and a 1-year high of $285.50. The stock has a market cap of $85.71 billion, a P/E ratio of 101.84 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share 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%. The company’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 EPS. Research analysts anticipate that DoorDash will post 2.22 earnings per share for the current year.

Insider Activity

In other news, CFO Ravi Inukonda sold 1,425 shares of the firm’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $263.86, for a total transaction of $376,000.50. Following the sale, the chief financial officer directly owned 214,147 shares in the company, valued at $56,504,827.42. This trade represents a 0.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andy Fang sold 30,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $244.39, for a total transaction of $7,331,700.00. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 825,277 shares of company stock worth $205,015,591. Company insiders own 5.83% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB boosted its holdings in DoorDash by 1.9% in the third quarter. Handelsbanken Fonder AB now owns 164,062 shares of the company’s stock valued at $44,623,000 after purchasing an additional 3,071 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in shares of DoorDash by 14.5% during the 3rd quarter. Artisan Partners Limited Partnership now owns 1,370,479 shares of the company’s stock worth $372,757,000 after buying an additional 173,998 shares in the last quarter. Xponance Inc. lifted its holdings in DoorDash by 0.4% in the third quarter. Xponance Inc. now owns 85,958 shares of the company’s stock valued at $23,380,000 after acquiring an additional 348 shares during the period. DNB Asset Management AS grew its position in DoorDash by 4.5% during the third quarter. DNB Asset Management AS now owns 67,632 shares of the company’s stock worth $18,395,000 after buying an additional 2,899 shares during the period. Finally, Choreo LLC raised its holdings in DoorDash by 11.2% during the third quarter. Choreo LLC now owns 9,057 shares of the company’s stock worth $2,464,000 after purchasing an additional 910 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.