DoorDash (NASDAQ:DASH) Stock Rating Lowered by Zacks Research

DoorDash (NASDAQ:DASH) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Other analysts have also recently issued reports about the company. Oppenheimer restated an “outperform” rating and issued a $280.00 price objective on shares of DoorDash in a research report on Thursday, November 6th. Jefferies Financial Group boosted their price target on shares of DoorDash from $265.00 to $280.00 and gave the stock a “hold” rating in a report on Friday, October 17th. Guggenheim raised shares of DoorDash to a “strong-buy” rating in a report on Wednesday, October 15th. Roth Capital lifted their target price on shares of DoorDash from $191.00 to $225.00 and gave the company a “neutral” rating in a research report on Monday, July 14th. Finally, Sanford C. Bernstein boosted their target price on shares of DoorDash from $210.00 to $265.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $280.62.

DoorDash Trading Down 1.7%

Shares of DoorDash stock opened at $200.63 on Monday. The firm has a 50-day simple moving average of $257.06 and a two-hundred day simple moving average of $238.27. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.04 and a current ratio of 2.04. DoorDash has a fifty-two week low of $155.40 and a fifty-two week high of $285.50. The company 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 announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.13). The business had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.35 billion. DoorDash had a net margin of 6.83% and a return on equity of 9.97%. DoorDash’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 EPS. As a group, equities analysts predict that DoorDash will post 2.22 earnings per share for the current fiscal year.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Stanley Tang sold 45,410 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $243.31, for a total value of $11,048,707.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Prabir Adarkar sold 41,881 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the completion of the transaction, the chief operating officer directly owned 914,547 shares in the company, valued at $224,813,943.54. This trade represents a 4.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 825,277 shares of company stock valued at $205,015,591. Corporate insiders own 5.83% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC boosted its stake in DoorDash by 24.0% during the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock worth $1,566,000 after buying an additional 1,807 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of DoorDash by 14.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 105,272 shares of the company’s stock valued at $19,241,000 after acquiring an additional 13,260 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new stake in shares of DoorDash in the first quarter valued at about $278,000. Mutual of America Capital Management LLC acquired a new stake in DoorDash during the first quarter worth about $7,200,000. Finally, Schechter Investment Advisors LLC acquired a new stake in DoorDash during the first quarter worth about $247,000. 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.