DoorDash (NASDAQ:DASH) Given “Neutral” Rating at Piper Sandler

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

Several other research analysts have also weighed in on DASH. Benchmark restated a buy rating and set a $150.00 price objective on shares of DoorDash in a research note on Tuesday, July 30th. Wedbush restated a neutral rating and issued a $115.00 price objective on shares of DoorDash in a research note on Friday. Needham & Company LLC lifted their target price on DoorDash from $137.00 to $145.00 and gave the stock a buy rating in a research note on Friday. Wells Fargo & Company increased their price target on DoorDash from $100.00 to $125.00 and gave the company an equal weight rating in a research note on Thursday, April 4th. Finally, Citigroup lifted their price objective on shares of DoorDash from $141.00 to $144.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $142.81.

DoorDash Stock Performance

NASDAQ DASH traded up $4.07 during trading on Friday, hitting $121.30. The stock had a trading volume of 11,545,891 shares, compared to its average volume of 4,110,238. DoorDash has a 12 month low of $69.90 and a 12 month high of $143.34. The company’s 50-day moving average price is $109.35 and its two-hundred day moving average price is $118.46. The company has a market capitalization of $49.60 billion, a PE ratio of -110.39, a P/E/G ratio of 40.25 and a beta of 1.67.

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

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN grew its holdings in DoorDash by 102.5% during the fourth quarter. Wells Fargo & Company MN now owns 199,152 shares of the company’s stock valued at $19,694,000 after purchasing an additional 100,787 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in DoorDash during the first quarter valued at about $2,969,000. Sequoia Financial Advisors LLC bought a new position in DoorDash during the fourth quarter worth about $769,000. Bank of Nova Scotia raised its position in shares of 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 purchasing an additional 139,450 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of DoorDash by 294.5% during the 4th quarter. Franklin Resources Inc. now owns 1,607,776 shares of the company’s stock valued at $158,993,000 after buying an additional 1,200,181 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

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.