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

DoorDash (NASDAQ:DASH) had its target price cut by research analysts at Mizuho from $320.00 to $255.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s target price suggests a potential upside of 44.55% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. KeyCorp boosted their price target on shares of DoorDash from $275.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, February 19th. Cantor Fitzgerald reduced their price objective on DoorDash from $285.00 to $230.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. BNP Paribas Exane assumed coverage on DoorDash in a research report on Wednesday, January 14th. They issued an “outperform” rating and a $280.00 target price on the stock. Citigroup cut their price target on DoorDash from $283.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Finally, Wells Fargo & Company reduced their price target on DoorDash from $251.00 to $221.00 and set an “equal weight” rating for the company in a report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $262.82.

DoorDash Trading Down 0.0%

NASDAQ:DASH opened at $176.41 on Tuesday. The stock has a market cap of $76.64 billion, a PE ratio of 83.21 and a beta of 1.77. DoorDash has a fifty-two week low of $155.40 and a fifty-two week high of $285.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.41 and a quick ratio of 1.41. The stock’s 50-day moving average is $200.85 and its two-hundred day moving average is $227.28.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.10). DoorDash had a return on equity of 10.15% and a net margin of 6.82%.The company had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.98 billion. During the same quarter in the prior year, the business posted $0.33 earnings per share. The business’s revenue for the quarter was up 37.7% compared to the same quarter last year. As a group, equities research analysts forecast that DoorDash will post 2.22 earnings per share for the current fiscal year.

Insider Buying and Selling at DoorDash

In other DoorDash news, CFO Ravi Inukonda sold 1,425 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $231.97, for a total transaction of $330,557.25. Following the completion of the sale, the chief financial officer owned 184,037 shares of the company’s stock, valued at $42,691,062.89. This represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andy Fang sold 30,000 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $222.52, for a total value of $6,675,600.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 220,826 shares of company stock worth $48,944,946 in the last 90 days. Company insiders own 5.83% of the company’s stock.

Institutional Trading of DoorDash

Several large investors have recently modified their holdings of DASH. Physician Wealth Advisors Inc. raised its holdings in DoorDash by 284.0% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 96 shares of the company’s stock worth $26,000 after acquiring an additional 71 shares during the period. Eastern Bank boosted its holdings in DoorDash by 714.3% during the fourth quarter. Eastern Bank now owns 114 shares of the company’s stock valued at $26,000 after acquiring an additional 100 shares during the period. MV Capital Management Inc. bought a new stake in DoorDash during the fourth quarter valued at about $26,000. Swiss RE Ltd. bought a new position in shares of DoorDash in the fourth quarter worth about $28,000. Finally, ST Germain D J Co. Inc. acquired a new position in shares of DoorDash during the 4th quarter worth about $29,000. 90.64% of the stock is owned by institutional investors.

DoorDash Company Profile

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.