DoorDash (NASDAQ:DASH) Upgraded to “Buy” by BTIG Research

BTIG Research upgraded shares of DoorDash (NASDAQ:DASH) from a neutral rating to a buy rating in a research note released on Thursday, Marketbeat Ratings reports. BTIG Research currently has $155.00 price target on the stock.

Several other equities research analysts have also recently issued reports on DASH. JPMorgan Chase & Co. raised their price objective on DoorDash from $111.00 to $137.00 and gave the stock a neutral rating in a report on Friday, August 2nd. Barclays lifted their price target on DoorDash from $113.00 to $120.00 and gave the company an equal weight rating in a report on Friday, August 2nd. KeyCorp assumed coverage on shares of DoorDash in a report on Thursday, July 11th. They set a sector weight rating on the stock. Argus initiated coverage on shares of DoorDash in a report on Tuesday, July 23rd. They issued a hold rating for the company. Finally, Needham & Company LLC increased their price target on shares of DoorDash from $137.00 to $145.00 and gave the stock a buy rating in a research note on Friday, August 2nd. Eleven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, DoorDash currently has an average rating of Moderate Buy and a consensus price target of $143.00.

DoorDash Trading Up 1.8 %

DoorDash stock opened at $139.72 on Thursday. The stock has a market cap of $57.13 billion, a PE ratio of -129.37, a P/E/G ratio of 275.59 and a beta of 1.69. The stock has a 50-day moving average price of $121.37 and a 200 day moving average price of $121.44. DoorDash has a 52 week low of $69.90 and a 52 week high of $143.34.

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

Insider Activity

In related news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total value of $6,510,000.00. Following the completion of the sale, the director now owns 18,089 shares in the company, valued at $2,355,187.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other DoorDash news, Director Shona L. Brown sold 1,712 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $110.97, for a total transaction of $189,980.64. Following the transaction, the director now owns 70,191 shares of the company’s stock, valued at approximately $7,789,095.27. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total value of $6,510,000.00. Following the completion of the sale, the director now owns 18,089 shares of the company’s stock, valued at $2,355,187.80. The disclosure for this sale can be found here. In the last three months, insiders sold 304,769 shares of company stock worth $34,760,113. 7.92% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DoorDash

Hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its position in shares of DoorDash by 102.5% in the 4th quarter. Wells Fargo & Company MN now owns 199,152 shares of the company’s stock worth $19,694,000 after buying an additional 100,787 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in DoorDash in the first quarter worth about $2,969,000. Bank of Nova Scotia boosted its stake in DoorDash by 298.3% in the fourth quarter. Bank of Nova Scotia now owns 186,201 shares of the company’s stock valued at $18,413,000 after acquiring an additional 139,450 shares during the period. Franklin Resources Inc. grew its holdings in shares of DoorDash by 294.5% during the fourth quarter. Franklin Resources Inc. now owns 1,607,776 shares of the company’s stock valued at $158,993,000 after purchasing an additional 1,200,181 shares during the last quarter. Finally, D L Carlson Investment Group Inc. acquired a new stake in shares of DoorDash during the 4th quarter worth approximately $2,421,000. 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.