Raymond James Begins Coverage on DoorDash (NASDAQ:DASH)

Raymond James started coverage on shares of DoorDash (NASDAQ:DASH) in a report issued on Tuesday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $155.00 target price on the stock.

Several other equities analysts have also commented on DASH. JPMorgan Chase & Co. increased their target price on shares of DoorDash from $111.00 to $137.00 and gave the company a neutral rating in a report on Friday, August 2nd. Susquehanna increased their target price on shares of DoorDash from $135.00 to $140.00 and gave the company a positive rating in a report on Monday, August 5th. UBS Group increased their target price on shares of DoorDash from $125.00 to $143.00 and gave the company a neutral rating in a report on Friday, August 2nd. Wells Fargo & Company increased their target price on shares of DoorDash from $125.00 to $127.00 and gave the company an equal weight rating in a report on Friday, August 2nd. Finally, JMP Securities increased their price target on shares of DoorDash from $140.00 to $145.00 and gave the company a market outperform rating in a research report on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $145.97.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $142.23 on Tuesday. The company’s fifty day moving average price is $125.10 and its 200-day moving average price is $121.95. The firm has a market capitalization of $58.53 billion, a price-to-earnings ratio of -131.69, a PEG ratio of 295.70 and a beta of 1.69. DoorDash has a one year low of $69.90 and a one year high of $146.36.

DoorDash (NASDAQ:DASH) last released its earnings results on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.29). DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the prior year, the business posted ($0.44) EPS. DoorDash’s revenue for the quarter was up 23.3% on a year-over-year basis. As a group, equities research analysts expect that DoorDash will post 0.01 EPS for the current year.

Insider Buying and Selling

In other DoorDash news, CEO Tony Xu sold 54,166 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $107.75, for a total transaction of $5,836,386.50. The sale was disclosed in a filing with the SEC, which is available through this link. In other DoorDash news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $107.75, for a total transaction of $5,836,386.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Keith Yandell sold 6,554 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $107.75, for a total transaction of $706,193.50. Following the sale, the insider now directly owns 155,097 shares in the company, valued at approximately $16,711,701.75. The disclosure for this sale can be found here. Insiders sold a total of 350,223 shares of company stock worth $41,391,523 in the last three months. Insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

A number of large investors have recently made changes to their positions in DASH. Janus Henderson Group PLC grew its stake in shares of DoorDash by 11,416.7% in the first quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock worth $475,837,000 after acquiring an additional 3,425,115 shares during the period. Vanguard Group Inc. grew its stake in shares of DoorDash by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock worth $2,897,823,000 after acquiring an additional 2,259,976 shares during the period. Dragoneer Investment Group LLC grew its stake in shares of DoorDash by 77.9% in the second quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock worth $309,755,000 after acquiring an additional 1,246,567 shares during the period. First Trust Advisors LP grew its position in DoorDash by 45.6% during the fourth quarter. First Trust Advisors LP now owns 3,079,083 shares of the company’s stock valued at $304,490,000 after buying an additional 964,860 shares during the period. Finally, 1832 Asset Management L.P. bought a new stake in DoorDash during the fourth quarter valued at approximately $92,937,000. 90.64% of the stock is currently owned by institutional investors.

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.