DoorDash (NASDAQ:DASH) Shares Gap Down Following Analyst Downgrade

DoorDash, Inc. (NASDAQ:DASH) gapped down prior to trading on Thursday after BMO Capital Markets lowered their price target on the stock from $138.00 to $127.00. The stock had previously closed at $127.46, but opened at $117.25. BMO Capital Markets currently has an outperform rating on the stock. DoorDash shares last traded at $112.21, with a volume of 5,822,627 shares changing hands.

DASH has been the subject of several other research reports. Benchmark cut their price target on DoorDash from $165.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday. Jefferies Financial Group raised shares of DoorDash from a “hold” rating to a “buy” rating and boosted their price objective for the company from $90.00 to $130.00 in a research note on Monday, January 8th. Loop Capital began coverage on shares of DoorDash in a research note on Friday, April 19th. They issued a “buy” rating and a $170.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $137.00 target price on shares of DoorDash in a report on Thursday. Finally, Susquehanna boosted their target price on DoorDash from $110.00 to $135.00 and gave the stock a “positive” rating in a research report on Tuesday, February 20th. Nine equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $129.84.

Insider Activity

In related news, insider Keith Yandell sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $124.50, for a total value of $435,750.00. Following the completion of the sale, the insider now directly owns 161,102 shares in the company, valued at $20,057,199. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Tony Xu sold 132,300 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $133.51, for a total value of $17,663,373.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Keith Yandell sold 3,500 shares of DoorDash stock in a transaction on Friday, March 1st. The shares were sold at an average price of $124.50, for a total transaction of $435,750.00. Following the transaction, the insider now owns 161,102 shares in the company, valued at approximately $20,057,199. The disclosure for this sale can be found here. Insiders sold a total of 480,782 shares of company stock valued at $63,130,157 in the last 90 days. 9.59% of the stock is currently owned by insiders.

Institutional Trading of DoorDash

A number of hedge funds have recently made changes to their positions in the stock. Spire Wealth Management acquired a new position in DoorDash in the first quarter worth about $25,000. Fifth Third Bancorp lifted its holdings in DoorDash by 448.8% during the 3rd quarter. Fifth Third Bancorp now owns 439 shares of the company’s stock worth $35,000 after buying an additional 359 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in DoorDash by 54.5% during the 1st quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock worth $35,000 after buying an additional 90 shares during the last quarter. Parkside Financial Bank & Trust grew its position in shares of DoorDash by 361.2% in the 4th quarter. Parkside Financial Bank & Trust now owns 392 shares of the company’s stock worth $39,000 after acquiring an additional 307 shares in the last quarter. Finally, Covestor Ltd increased its holdings in shares of DoorDash by 101.2% in the 3rd quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $40,000 after acquiring an additional 253 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Trading Down 12.2 %

The company has a 50-day moving average of $132.16 and a 200-day moving average of $109.84. The firm has a market capitalization of $45.22 billion, a price-to-earnings ratio of -77.71, a price-to-earnings-growth ratio of 14.38 and a beta of 1.78.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.45 billion. DoorDash had a negative net margin of 6.46% and a negative return on equity of 8.49%. The company’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same period last year, the firm posted ($0.41) EPS. On average, research analysts forecast that DoorDash, Inc. will post 0.21 earnings per share for the current year.

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.