DoorDash, Inc. (NASDAQ:DASH) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of DoorDash, Inc. (NASDAQ:DASH) have received an average recommendation of “Moderate Buy” from the thirty-five research firms that are presently covering the company, MarketBeat.com reports. Thirteen analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $275.4242.

Several equities research analysts recently issued reports on DASH shares. Bank of America increased their price objective on DoorDash from $230.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, June 12th. BTIG Research lifted their price objective on DoorDash from $225.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, July 1st. Wells Fargo & Company upped their target price on DoorDash from $280.00 to $306.00 and gave the stock an “equal weight” rating in a research report on Friday, September 5th. JMP Securities lifted their price target on DoorDash from $250.00 to $335.00 and gave the company a “market outperform” rating in a report on Thursday, August 7th. Finally, Jefferies Financial Group increased their price objective on DoorDash from $250.00 to $265.00 and gave the stock a “hold” rating in a report on Monday, August 11th.

DoorDash Trading Down 1.6%

DoorDash stock opened at $267.64 on Thursday. DoorDash has a 12-month low of $140.62 and a 12-month high of $278.15. The stock has a market capitalization of $114.34 billion, a PE ratio of 148.69 and a beta of 1.71. The firm has a 50 day simple moving average of $254.56 and a 200-day simple moving average of $222.77. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.23. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the previous year, the business earned ($0.38) EPS. The company’s quarterly revenue was up 24.9% compared to the same quarter last year. As a group, equities research analysts expect that DoorDash will post 2.22 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Ravi Inukonda sold 1,425 shares of the company’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $266.16, for a total value of $379,278.00. Following the completion of the sale, the chief financial officer directly owned 214,772 shares in the company, valued at approximately $57,163,715.52. This represents a 0.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Prabir Adarkar sold 30,000 shares of the firm’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $270.60, for a total value of $8,118,000.00. Following the transaction, the chief operating officer owned 914,547 shares in the company, valued at approximately $247,476,418.20. This trade represents a 3.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 891,841 shares of company stock worth $220,178,742 in the last 90 days. 5.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DoorDash

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Saudi Central Bank acquired a new stake in shares of DoorDash in the first quarter worth $25,000. WPG Advisers LLC acquired a new position in DoorDash during the 1st quarter worth $26,000. Pacific Center for Financial Services acquired a new position in DoorDash during the 1st quarter worth $27,000. GFG Capital LLC bought a new stake in DoorDash during the second quarter valued at about $30,000. Finally, Harbour Investments Inc. grew its position in shares of DoorDash by 55.6% in the first quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock valued at $36,000 after purchasing an additional 70 shares during 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.