DoorDash, Inc. (NASDAQ:DASH) Given Consensus Rating of “Moderate Buy” by Analysts

by · The Markets Daily

Shares of DoorDash, Inc. (NASDAQ:DASH – Get Free Report) have earned an average rating of “Moderate Buy” from the thirty-six research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $257.4722.

Several brokerages recently commented on DASH. Needham & Company LLC reaffirmed a “buy” rating and set a $265.00 price objective on shares of DoorDash in a research note on Thursday, August 6th. Cantor Fitzgerald increased their target price on shares of DoorDash from $230.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Weiss Ratings reissued a “hold (c)” rating on shares of DoorDash in a report on Friday, August 7th. Scotiabank initiated coverage on shares of DoorDash in a report on Wednesday, September 9th. They issued a “sector outperform” rating and a $275.00 price target on the stock. Finally, Zacks Research upgraded DoorDash from a “strong sell” rating to a “hold” rating in a research report on Monday, August 17th.

Check Out Our Latest Research Report on DoorDash

DoorDash Stock Performance

Shares of DASH stock opened at $203.54 on Thursday. The firm has a market capitalization of $88.19 billion, a PE ratio of 106.57 and a beta of 1.79. The firm has a fifty day simple moving average of $205.51 and a two-hundred day simple moving average of $180.07. DoorDash has a 12 month low of $143.30 and a 12 month high of $285.50. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27.

DoorDash (NASDAQ:DASH – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The business had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same period in the previous year, the business posted $0.65 EPS. DoorDash’s revenue was up 35.6% compared to the same quarter last year. Analysts forecast that DoorDash will post 2.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Prabir Adarkar sold 55,289 shares of DoorDash stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $231.76, for a total transaction of $12,813,778.64. Following the completion of the sale, the chief operating officer owned 930,211 shares in the company, valued at approximately $215,585,701.36. This trade represents a 5.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Tony Xu sold 29,567 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $230.00, for a total value of $6,800,410.00. Following the transaction, the chief executive officer directly owned 1,500 shares of the company’s stock, valued at $345,000. The trade was a 95.17% 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. Insiders have sold 399,553 shares of company stock valued at $87,034,140 over the last 90 days. 44.90% of the stock is owned by insiders.

Institutional Trading of DoorDash

Several institutional investors and hedge funds have recently made changes to their positions in DASH. Intech Investment Management LLC boosted its position in DoorDash by 707.8% during the 4th quarter. Intech Investment Management LLC now owns 253,348 shares of the company’s stock valued at $57,378,000 after buying an additional 221,985 shares during the period. Nomura Asset Management Co. Ltd. increased its position in shares of DoorDash by 9.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 156,960 shares of the company’s stock valued at $35,548,000 after acquiring an additional 13,121 shares during the period. Allstate Corp increased its position in shares of DoorDash by 116.7% in the fourth quarter. Allstate Corp now owns 29,227 shares of the company’s stock valued at $6,619,000 after acquiring an additional 15,741 shares during the period. JCP Investment Management LLC bought a new position in shares of DoorDash during the first quarter valued at about $991,000. Finally, Westfield Capital Management Co. LP raised its stake in shares of DoorDash by 8.0% during the fourth quarter. Westfield Capital Management Co. LP now owns 425,080 shares of the company’s stock valued at $96,272,000 after acquiring an additional 31,452 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Company Profile

(Get Free Report)

DoorDash, Inc operates a local commerce platform that connects consumers with merchants and independent delivery workers. Its marketplace enables customers to order meals from restaurants as well as groceries, convenience items, alcohol where permitted, and products from other retail businesses through its websites and mobile applications.

The company also provides services designed to support merchants, including delivery logistics, online ordering, marketing, payment processing, and customer-engagement tools.

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