Royal Bank of Canada Trims DoorDash (NASDAQ:DASH) Target Price to $165.00

DoorDash (NASDAQ:DASH) had its price objective reduced by Royal Bank of Canada from $175.00 to $165.00 in a report issued on Thursday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other research analysts have also issued research reports about the company. Oppenheimer raised their target price on DoorDash from $140.00 to $150.00 and gave the company an outperform rating in a report on Monday, April 29th. JMP Securities lifted their price objective on shares of DoorDash from $130.00 to $160.00 and gave the stock a market outperform rating in a report on Wednesday, March 27th. Susquehanna increased their target price on shares of DoorDash from $110.00 to $135.00 and gave the company a positive rating in a report on Tuesday, February 20th. Truist Financial raised their price target on shares of DoorDash from $140.00 to $155.00 and gave the company a buy rating in a research report on Wednesday, March 27th. Finally, Wedbush reaffirmed a neutral rating and issued a $115.00 price objective on shares of DoorDash in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $129.96.

DoorDash Stock Performance

DASH opened at $113.81 on Thursday. DoorDash has a 1-year low of $60.36 and a 1-year high of $143.34. The company’s fifty day moving average price is $131.86 and its two-hundred day moving average price is $110.63.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, May 1st. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same period in the previous year, the firm posted ($0.41) earnings per share. The firm’s revenue for the quarter was up 23.5% on a year-over-year basis. Equities analysts forecast that DoorDash will post 0.17 earnings per share for the current year.

Insider Transactions at DoorDash

In related news, CFO Ravi Inukonda sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $130.95, for a total value of $916,650.00. Following the transaction, the chief financial officer now directly owns 384,425 shares in the company, valued at $50,340,453.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other DoorDash news, Director Shona L. Brown sold 700 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $109.71, for a total transaction of $76,797.00. Following the sale, the director now owns 71,514 shares in the company, valued at $7,845,800.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $130.95, for a total value of $916,650.00. Following the sale, the chief financial officer now directly owns 384,425 shares of the company’s stock, valued at approximately $50,340,453.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 487,782 shares of company stock valued at $64,046,807. 9.59% of the stock is currently owned by company insiders.

Institutional Trading of DoorDash

A number of hedge funds have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of DoorDash in the 4th quarter worth approximately $264,806,000. Vanguard Group Inc. lifted its stake in DoorDash by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock worth $2,897,823,000 after purchasing an additional 2,259,976 shares during the last quarter. Franklin Resources Inc. boosted its position in DoorDash by 294.5% during the fourth quarter. Franklin Resources Inc. now owns 1,607,776 shares of the company’s stock valued at $158,993,000 after buying an additional 1,200,181 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of DoorDash by 1,725.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock valued at $110,082,000 after buying an additional 1,052,198 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in shares of DoorDash by 40,319.6% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,039,592 shares of the company’s stock valued at $102,805,000 after buying an additional 1,037,020 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

DoorDash Company Profile

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.