DoorDash, Inc. (NYSE:DASH – Get Rating) shares reached a new 52-week low during trading on Monday after Truist Financial lowered their price target on the stock from $185.00 to $101.00. Truist Financial currently has a buy rating on the stock. DoorDash traded as low as $41.40 and last traded at $42.68, with a volume of 80706 shares changing hands. The stock had previously closed at $45.23.
DASH has been the topic of a number of other research reports. JPMorgan Chase & Co. lowered their price target on DoorDash from $100.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, June 29th. Needham & Company LLC upped their price target on DoorDash from $100.00 to $115.00 in a report on Friday, August 5th. Evercore ISI upped their price target on DoorDash from $98.00 to $122.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. Barclays upped their price target on DoorDash from $80.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, August 5th. Finally, Citigroup upped their price target on DoorDash from $118.00 to $129.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Ten analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and a consensus target price of $127.50.
Insider Activity at DoorDash
In other news, COO Christopher D. Payne sold 16,443 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $63.83, for a total transaction of $1,049,556.69. Following the completion of the sale, the chief operating officer now directly owns 370,890 shares in the company, valued at $23,673,908.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Christopher D. Payne sold 16,443 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $63.83, for a total transaction of $1,049,556.69. Following the completion of the sale, the chief operating officer now directly owns 370,890 shares in the company, valued at $23,673,908.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Shona L. Brown sold 1,250 shares of the firm’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $80.95, for a total value of $101,187.50. Following the sale, the director now owns 88,528 shares of the company’s stock, valued at $7,166,341.60. The disclosure for this sale can be found here. In the last three months, insiders sold 129,474 shares of company stock worth $8,329,321. Corporate insiders own 12.10% of the company’s stock.
Hedge Funds Weigh In On DoorDash
Hedge funds have recently bought and sold shares of the company. IndexIQ Advisors LLC acquired a new position in DoorDash in the first quarter worth about $32,000. CWM LLC lifted its holdings in DoorDash by 608.1% in the first quarter. CWM LLC now owns 439 shares of the company’s stock worth $51,000 after acquiring an additional 377 shares during the last quarter. UMB Bank N A MO lifted its holdings in DoorDash by 68.3% in the first quarter. UMB Bank N A MO now owns 680 shares of the company’s stock worth $80,000 after acquiring an additional 276 shares during the last quarter. Alpha Paradigm Partners LLC bought a new position in DoorDash in the second quarter worth about $45,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in DoorDash by 16,080.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 809 shares of the company’s stock worth $95,000 after acquiring an additional 804 shares during the last quarter. 80.51% of the stock is currently owned by institutional investors and hedge funds.
DoorDash Price Performance
The stock’s fifty day simple moving average is $56.68 and its 200-day simple moving average is $69.10. The stock has a market cap of $16.48 billion, a P/E ratio of -22.98 and a beta of 1.28.
DoorDash (NYSE:DASH – Get Rating) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.33). The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.52 billion. DoorDash had a negative net margin of 12.16% and a negative return on equity of 12.82%. The business’s quarterly revenue was up 30.1% on a year-over-year basis. During the same period last year, the firm posted ($0.30) EPS. Analysts forecast that DoorDash, Inc. will post -2.36 EPS for the current year.
About DoorDash
DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.