Rosenblatt Securities Issues Pessimistic Forecast for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH) had its price objective cut by equities research analysts at Rosenblatt Securities from $270.00 to $225.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Rosenblatt Securities‘s target price would indicate a potential upside of 25.23% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Raymond James Financial reiterated a “buy” rating on shares of DoorDash in a research note on Thursday, September 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DoorDash in a report on Wednesday. Argus upped their price target on DoorDash from $190.00 to $270.00 in a report on Thursday, August 27th. KeyCorp reduced their price objective on DoorDash from $280.00 to $275.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th. Finally, Benchmark lifted their price objective on DoorDash from $270.00 to $295.00 in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, DoorDash has an average rating of “Moderate Buy” and a consensus target price of $248.66.

DoorDash Stock Performance

Shares of DASH opened at $179.67 on Friday. The company has a market capitalization of $77.85 billion, a PE ratio of 74.24 and a beta of 1.98. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.46 and a quick ratio of 1.37. DoorDash has a one year low of $143.30 and a one year high of $239.00. The company’s fifty day moving average price is $193.38 and its 200 day moving average price is $182.51.

DoorDash (NASDAQ:DASH) last announced its earnings results on Thursday, October 29th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.25. The firm had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.56 billion. DoorDash had a return on equity of 10.40% and a net margin of 6.23%. The firm’s revenue for the quarter was up 34.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.55 EPS. As a group, analysts expect that DoorDash will post 2.68 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Keith Yandell sold 2,183 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $183.69, for a total transaction of $400,995.27. Following the completion of the transaction, the chief operating officer owned 118,505 shares in the company, valued at $21,768,183.45. This trade represents a 1.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 23,125 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $188.71, for a total value of $4,363,918.75. Following the completion of the sale, the director directly owned 10,361 shares in the company, valued at approximately $1,955,224.31. This represents a 69.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 349,430 shares of company stock worth $76,644,002. Insiders own 44.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Addison Advisors LLC acquired a new stake in shares of DoorDash in the 3rd quarter valued at $236,000. Diversified Trust Co grew its holdings in shares of DoorDash by 187.4% in the 3rd quarter. Diversified Trust Co now owns 9,934 shares of the company’s stock worth $1,823,000 after purchasing an additional 6,477 shares during the last quarter. Allworth Financial LP grew its holdings in shares of DoorDash by 5.5% in the 3rd quarter. Allworth Financial LP now owns 32,467 shares of the company’s stock worth $5,959,000 after purchasing an additional 1,698 shares during the last quarter. R Squared Ltd increased its position in shares of DoorDash by 145.4% during the 3rd quarter. R Squared Ltd now owns 3,019 shares of the company’s stock worth $554,000 after purchasing an additional 1,789 shares in the last quarter. Finally, CENTRAL TRUST Co increased its position in shares of DoorDash by 5,234.4% during the 3rd quarter. CENTRAL TRUST Co now owns 23,098 shares of the company’s stock worth $4,240,000 after purchasing an additional 22,665 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash and Lyft launched Lyft Go, a $9.99 monthly membership that includes DashPass and 8% credits on Lyft rides for future rides or DoorDash orders. The bundle could help DoorDash attract and retain customers, though its financial impact is not yet known. Lyft Debuts Joint Membership Program With DoorDash
• Neutral Sentiment: Rosenblatt Securities lowered its DoorDash price target to $225 from $270 but maintained a Buy rating. The cut signals a more cautious outlook, although the new target remains above the cited share price. Rosenblatt Securities analyst ratings
• Negative Sentiment: Small grocers have questioned whether DoorDash’s proposed Instacart deal would benefit them, highlighting potential pushback as the transaction faces scrutiny and uncertainty. Grocers push back on DoorDash’s Instacart deal
• Negative Sentiment: Director Stanley Tang sold 23,125 shares, cutting his direct holdings by about 69%. The sale was made under a pre-arranged trading plan, which may reduce its significance as a signal about his view of the stock. SEC filing for Stanley Tang share sale

About DoorDash

DoorDash, Inc operates a local commerce platform that connects consumers with restaurants and other merchants, as well as with independent delivery workers. Through its app and website, customers can order restaurant meals, groceries, convenience items and products from other local retailers for delivery or pickup.

The company also provides services for merchants, including tools for online ordering, marketing and fulfillment. Its offerings include DoorDash Drive, which provides delivery logistics for merchants’ own orders, and DashPass, a subscription program for eligible orders.