DoorDash (NASDAQ:DASH) Given New $275.00 Price Target at Needham & Company LLC

DoorDash (NASDAQ:DASH) had its price target reduced by Needham & Company LLC from $300.00 to $275.00 in a report issued on Friday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also weighed in on the stock. Zacks Research lowered shares of DoorDash from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Wall Street Zen downgraded shares of DoorDash from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Barclays lowered their target price on shares of DoorDash from $272.00 to $238.00 and set an “equal weight” rating on the stock in a report on Thursday, November 6th. Bank of America dropped their target price on DoorDash from $325.00 to $305.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Finally, Wedbush upgraded DoorDash from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $160.00 to $260.00 in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $279.00.

DoorDash Stock Performance

NASDAQ DASH traded up $11.75 on Friday, hitting $206.96. 11,452,540 shares of the stock traded hands, compared to its average volume of 5,267,455. 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 business’s fifty day moving average is $254.14 and its two-hundred day moving average is $237.81. DoorDash has a 12 month low of $155.40 and a 12 month high of $285.50. The firm has a market capitalization of $89.20 billion, a price-to-earnings ratio of 105.06 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last issued its quarterly 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). DoorDash had a net margin of 6.83% and a return on equity of 9.97%. The firm had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same period in the prior year, the company earned $0.38 EPS. The firm’s quarterly revenue was up 27.3% on a year-over-year basis. As a group, equities analysts anticipate that DoorDash will post 2.22 EPS for the current fiscal year.

Insider Activity at DoorDash

In related news, COO Prabir Adarkar sold 24,968 shares of the business’s stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $272.32, for a total transaction of $6,799,285.76. Following the completion of the transaction, the chief operating officer directly owned 909,579 shares in the company, valued at $247,696,553.28. The trade was a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andy Fang sold 30,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $244.39, for a total value of $7,331,700.00. The disclosure for this sale is available in the SEC filing. Insiders have sold 791,110 shares of company stock valued at $196,549,692 in the last ninety days. 5.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DoorDash

A number of hedge funds and other institutional investors have recently bought and sold shares of DASH. Schonfeld Strategic Advisors LLC raised its position in shares of DoorDash by 41.7% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 62,916 shares of the company’s stock valued at $17,113,000 after buying an additional 18,517 shares in the last quarter. Durable Capital Partners LP increased its stake in DoorDash by 62.8% in the third quarter. Durable Capital Partners LP now owns 1,671,659 shares of the company’s stock valued at $454,675,000 after acquiring an additional 645,010 shares during the last quarter. Credit Agricole S A purchased a new stake in DoorDash during the third quarter valued at about $72,286,000. Raymond James Financial Inc. lifted its stake in DoorDash by 0.3% during the third quarter. Raymond James Financial Inc. now owns 604,619 shares of the company’s stock worth $164,450,000 after purchasing an additional 2,093 shares during the last quarter. Finally, Amundi boosted its holdings in shares of DoorDash by 66.8% in the 3rd quarter. Amundi now owns 1,700,112 shares of the company’s stock worth $478,990,000 after purchasing an additional 681,058 shares in the last quarter. Hedge funds and other institutional investors 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.