DoorDash’s (DASH) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of DoorDash (NASDAQ:DASH) in a research report sent to investors on Thursday morning, Benzinga reports. Needham & Company LLC currently has a $137.00 price objective on the stock.

Several other equities analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft upped their price objective on DoorDash from $140.00 to $155.00 and gave the company a buy rating in a research report on Tuesday, April 16th. JMP Securities upped their price target on shares of DoorDash from $130.00 to $160.00 and gave the company a market outperform rating in a research note on Wednesday, March 27th. Loop Capital started coverage on DoorDash in a report on Friday, April 19th. They set a buy rating and a $170.00 target price for the company. Benchmark began coverage on shares of DoorDash in a report on Thursday, April 4th. They issued a buy rating and a $165.00 price target on the stock. Finally, Truist Financial boosted their target price on shares of DoorDash from $140.00 to $155.00 and gave the company a buy rating in a research note on Wednesday, March 27th. Nine analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $129.96.

DoorDash Stock Performance

Shares of NASDAQ DASH traded down $0.50 during trading on Thursday, hitting $113.81. The company had a trading volume of 6,210,790 shares, compared to its average volume of 4,293,060. DoorDash has a 12 month low of $60.36 and a 12 month high of $143.34. The firm has a market capitalization of $45.98 billion, a P/E ratio of -105.38, a price-to-earnings-growth ratio of 13.07 and a beta of 1.78. The stock has a 50 day simple moving average of $131.86 and a 200 day simple moving average of $110.13.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same period in the previous year, the firm posted ($0.41) EPS. DoorDash’s revenue for the quarter was up 23.5% compared to the same quarter last year. As a group, analysts predict that DoorDash will post 0.17 EPS for the current year.

Insider Activity

In other news, Director Shona L. Brown sold 700 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $109.71, for a total value of $76,797.00. Following the completion of the sale, the director now owns 71,514 shares of the company’s stock, valued at $7,845,800.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other DoorDash news, Director Shona L. Brown sold 700 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $109.71, for a total transaction of $76,797.00. Following the transaction, the director now directly owns 71,514 shares of the company’s stock, valued at $7,845,800.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Tia Sherringham sold 1,880 shares of DoorDash stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $120.15, for a total transaction of $225,882.00. Following the completion of the transaction, the general counsel now directly owns 217,260 shares in the company, valued at approximately $26,103,789. The disclosure for this sale can be found here. Insiders sold a total of 487,782 shares of company stock valued at $64,046,807 over the last three months. Insiders own 9.59% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Versor Investments LP acquired a new position in DoorDash in the third quarter valued at about $556,000. Assenagon Asset Management S.A. raised its holdings in DoorDash by 1,725.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock worth $110,082,000 after purchasing an additional 1,052,198 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in DoorDash during the 4th quarter valued at about $769,000. Angeles Investment Advisors LLC bought a new position in shares of DoorDash in the 3rd quarter valued at about $336,000. Finally, Bank of Nova Scotia grew its stake in shares of DoorDash by 685.9% during the third quarter. Bank of Nova Scotia now owns 46,751 shares of the company’s stock worth $3,715,000 after purchasing an additional 40,802 shares during the period. 90.64% of the stock is owned by institutional investors.

DoorDash Company Profile

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.