Why DoorDash Is Trading Lower Today

DoorDash Inc DASH is trading lower Thursday morning following a price target cut at DA Davidson. 

What Happened: On Wednesday, DA Davidson analyst Tom White maintained DoorDash with a Neutral rating and lowered the price target from $162 to $158.

DASH Earnings: On May 13, DoorDash reported an earnings loss of 34 cents per share, which came in below the estimate for a loss of 26 cents per share. It reported quarterly revenue of $1.08 billion, which beat the estimate of $993.32 million.

Related Link: Understanding DoorDash's Unusual Options Activity

Price Action: DoorDash traded as high as $256.09 and as low as $110.13 since its IPO on Dec. 9. 2020.

At last check Thursday, the stock was down 4.35% at $134.10.

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