DoorDash (NASDAQ:DASH) Upgraded to “Outperform” by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of DoorDash (NASDAQ:DASH) from a market perform rating to an outperform rating in a research note released on Wednesday, MarketBeat Ratings reports. The brokerage currently has $177.00 price target on the stock.

Other research analysts have also recently issued reports about the company. Susquehanna boosted their target price on DoorDash from $135.00 to $140.00 and gave the company a positive rating in a research note on Monday, August 5th. KeyCorp initiated coverage on DoorDash in a research note on Thursday, July 11th. They set a sector weight rating for the company. Cantor Fitzgerald reaffirmed an overweight rating and issued a $160.00 price target on shares of DoorDash in a research note on Monday, September 23rd. Roth Mkm increased their price objective on shares of DoorDash from $118.00 to $124.00 and gave the stock a neutral rating in a research report on Monday, August 5th. Finally, Wedbush restated a neutral rating and set a $115.00 price objective on shares of DoorDash in a report on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, DoorDash presently has an average rating of Moderate Buy and a consensus target price of $145.97.

DoorDash Price Performance

DoorDash stock opened at $142.23 on Wednesday. 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. The company’s 50 day simple moving average is $125.10 and its 200 day simple moving average is $121.89. DoorDash has a fifty-two week low of $69.90 and a fifty-two week high of $146.36.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The firm 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 earned ($0.44) earnings per share. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. As a group, analysts predict that DoorDash will post 0.01 EPS for the current fiscal year.

Insider Buying and Selling

In other DoorDash news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $140.06, for a total value of $7,586,489.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other DoorDash news, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $140.06, for a total transaction of $7,586,489.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the completion of the transaction, the director now owns 18,089 shares in the company, valued at $2,355,187.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 350,223 shares of company stock worth $41,391,523. Company insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DASH. Meeder Asset Management Inc. grew its position in shares of DoorDash by 82.0% in the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after purchasing an additional 132 shares during the last quarter. Headlands Technologies LLC bought a new position in DoorDash during the 2nd quarter worth $32,000. Versant Capital Management Inc increased its position in 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 buying an additional 259 shares during the period. ORG Partners LLC lifted its holdings in shares of DoorDash by 2,108.3% during the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock worth $37,000 after buying an additional 253 shares in the last quarter. Finally, Quest Partners LLC boosted its position in shares of DoorDash by 146.8% in the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after acquiring an additional 204 shares during the period. 90.64% of the stock is 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.