Piper Sandler Reaffirms Neutral Rating for DoorDash (NASDAQ:DASH)

Piper Sandler reaffirmed their neutral rating on shares of DoorDash (NASDAQ:DASH) in a report released on Friday, Benzinga reports. Piper Sandler currently has a $125.00 target price on the stock, up from their previous target price of $115.00.

Several other research firms have also commented on DASH. Wedbush restated a neutral rating and issued a $115.00 price target on shares of DoorDash in a report on Friday. Redburn Atlantic initiated coverage on shares of DoorDash in a report on Friday, July 26th. They set a buy rating and a $170.00 price target for the company. Moffett Nathanson raised shares of DoorDash from a neutral rating to a buy rating and raised their target price for the company from $118.00 to $164.00 in a research note on Thursday, April 11th. Wells Fargo & Company boosted their price target on shares of DoorDash from $100.00 to $125.00 and gave the stock an equal weight rating in a research report on Thursday, April 4th. Finally, Loop Capital started coverage on DoorDash in a research report on Friday, April 19th. They set a buy rating and a $170.00 target price on the stock. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $142.81.

DoorDash Stock Up 3.5 %

DoorDash stock traded up $4.07 during mid-day trading on Friday, reaching $121.30. 11,545,891 shares of the company’s stock were exchanged, compared to its average volume of 4,110,238. DoorDash has a twelve month low of $69.90 and a twelve month high of $143.34. The company has a market cap of $49.60 billion, a P/E ratio of -110.39, a P/E/G ratio of 40.25 and a beta of 1.67. The company has a fifty day moving average of $109.35 and a 200-day moving average of $118.46.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. DoorDash had a negative return on equity of 6.00% and a negative net margin of 4.24%. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.44) EPS. Equities research analysts expect that DoorDash will post 0.07 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In other news, CEO Tony Xu sold 131,590 shares of DoorDash stock in a transaction on Monday, June 10th. The shares were sold at an average price of $111.61, for a total value of $14,686,759.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other DoorDash news, Director Andy Fang sold 50,000 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $113.40, for a total transaction of $5,670,000.00. Following the transaction, the director now owns 39,275 shares of the company’s stock, valued at approximately $4,453,785. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Tony Xu sold 131,590 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $111.61, for a total transaction of $14,686,759.90. The disclosure for this sale can be found here. In the last three months, insiders sold 459,016 shares of company stock valued at $50,325,396. Insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Hedge funds and other institutional investors have recently made changes to their positions in the business. Spire Wealth Management bought a new position in shares of DoorDash during the first quarter worth about $25,000. Venturi Wealth Management LLC boosted its stake in DoorDash by 54.5% in the 1st quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock worth $35,000 after purchasing an additional 90 shares during the period. ORG Partners LLC increased its holdings in shares of DoorDash by 2,108.3% in the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after purchasing an additional 253 shares during the period. Hollencrest Capital Management acquired a new position in shares of DoorDash in the first quarter worth $42,000. Finally, Versant Capital Management Inc raised its stake in shares of DoorDash by 340.8% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after purchasing an additional 259 shares in the last quarter. Institutional investors and hedge funds 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.