Morgan Stanley Has Lowered Expectations for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH - Get Free Report) had its price objective lowered by equities researchers at Morgan Stanley from $245.00 to $210.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Morgan Stanley's price objective would suggest a potential upside of 18.91% from the company's current price.

A number of other equities research analysts also recently weighed in on DASH. Royal Bank of Canada lifted their price target on shares of DoorDash from $215.00 to $230.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Wolfe Research lifted their price target on DoorDash from $210.00 to $220.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. Truist Financial upped their price objective on DoorDash from $217.00 to $235.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Wedbush boosted their target price on DoorDash from $160.00 to $210.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Finally, The Goldman Sachs Group raised their price target on shares of DoorDash from $192.00 to $212.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. Ten equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $208.88.

DoorDash Trading Up 2.8 %

Shares of NASDAQ:DASH traded up $4.79 on Thursday, hitting $176.61. The company had a trading volume of 3,322,700 shares, compared to its average volume of 4,247,777. The stock has a market cap of $74.19 billion, a price-to-earnings ratio of 654.11 and a beta of 1.69. The stock has a 50 day moving average price of $188.32 and a 200 day moving average price of $177.10. DoorDash has a 1-year low of $99.32 and a 1-year high of $215.25.

Insider Activity at DoorDash

In related news, CFO Ravi Inukonda sold 1,425 shares of the business's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $183.20, for a total value of $261,060.00. Following the completion of the sale, the chief financial officer now owns 366,993 shares in the company, valued at $67,233,117.60. The trade was a 0.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Keith Yandell sold 8,116 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total transaction of $1,651,200.20. Following the transaction, the insider now directly owns 105,162 shares in the company, valued at approximately $21,395,208.90. This represents a 7.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 158,511 shares of company stock valued at $30,308,544 over the last three months. 7.92% of the stock is owned by corporate insiders.

Institutional Trading of DoorDash

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of DoorDash by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 31,323,404 shares of the company's stock valued at $5,254,501,000 after purchasing an additional 317,502 shares during the period. Capital World Investors grew its position in DoorDash by 26.4% during the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company's stock valued at $2,038,712,000 after purchasing an additional 2,538,160 shares during the last quarter. Franklin Resources Inc. lifted its position in DoorDash by 25.0% in the 4th quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company's stock valued at $796,781,000 after acquiring an additional 949,414 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in DoorDash by 67.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company's stock valued at $780,858,000 after acquiring an additional 1,869,866 shares during the period. Finally, Geode Capital Management LLC lifted its position in DoorDash by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 4,558,821 shares of the company's stock valued at $763,198,000 after purchasing an additional 86,667 shares during the period. Institutional investors 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.