DoorDash (NASDAQ:DASH) Rating Lowered to “Strong Sell” at Zacks Research
by Amy Steele · The Cerbat GemDoorDash (NASDAQ:DASH – Get Free Report) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.
A number of other equities research analysts have also recently issued reports on the stock. Barclays cut their price objective on shares of DoorDash from $238.00 to $220.00 and set an “equal weight” rating for the company in a research note on Thursday, February 19th. Oppenheimer lowered their price objective on shares of DoorDash from $280.00 to $235.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. UBS Group reduced their price target on shares of DoorDash from $245.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, February 19th. Citigroup reduced their price target on shares of DoorDash from $283.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Finally, Guggenheim lowered their price objective on shares of DoorDash from $275.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $261.32.
Get Our Latest Stock Analysis on DoorDash
DoorDash Trading Up 2.5%
Shares of DASH stock opened at $163.55 on Monday. The business has a 50-day moving average price of $166.36 and a two-hundred day moving average price of $207.14. DoorDash has a 12-month low of $143.30 and a 12-month high of $285.50. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.27. The firm has a market cap of $71.05 billion, a P/E ratio of 77.15 and a beta of 1.93.
DoorDash (NASDAQ:DASH – Get Free Report) last released its earnings results on Wednesday, February 18th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.10). The firm had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.98 billion. DoorDash had a return on equity of 10.15% and a net margin of 6.82%.The business’s quarterly revenue was up 37.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.33 EPS. Equities analysts anticipate that DoorDash will post 2.22 EPS for the current fiscal year.
Insider Transactions at DoorDash
In other DoorDash news, Director Shona L. Brown sold 1,250 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $176.61, for a total transaction of $220,762.50. Following the completion of the transaction, the director owned 31,002 shares of the company’s stock, valued at $5,475,263.22. This represents a 3.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Prabir Adarkar sold 15,000 shares of DoorDash stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $204.59, for a total value of $3,068,850.00. Following the completion of the sale, the chief operating officer directly owned 874,130 shares in the company, valued at $178,838,256.70. This trade represents a 1.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 94,406 shares of company stock valued at $17,825,074 over the last 90 days. Company insiders own 5.83% of the company’s stock.
Institutional Trading of DoorDash
Several hedge funds have recently modified their holdings of DASH. Brighton Jones LLC lifted its holdings in shares of DoorDash by 24.0% in the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock valued at $1,566,000 after acquiring an additional 1,807 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in DoorDash by 21.5% during the first quarter. Integrated Wealth Concepts LLC now owns 1,715 shares of the company’s stock worth $314,000 after buying an additional 303 shares during the period. Empowered Funds LLC raised its stake in shares of DoorDash by 3.6% in the first quarter. Empowered Funds LLC now owns 8,130 shares of the company’s stock valued at $1,486,000 after acquiring an additional 285 shares during the period. Sivia Capital Partners LLC raised its stake in shares of DoorDash by 92.9% in the second quarter. Sivia Capital Partners LLC now owns 4,255 shares of the company’s stock valued at $1,049,000 after acquiring an additional 2,049 shares during the period. Finally, Baird Financial Group Inc. bought a new stake in shares of DoorDash in the 2nd quarter worth about $222,000. 90.64% of the stock is owned by hedge funds and other institutional investors.
About DoorDash
DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.
In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.