DoorDash (NASDAQ:DASH) Now Covered by Scotiabank

Scotiabank started coverage on shares of DoorDash (NASDAQ:DASH) in a report released on Wednesday, Marketbeat Ratings reports. The firm issued a sector outperform rating and a $275.00 target price on the stock.

DASH has been the subject of several other research reports. Wedbush increased their price target on DoorDash from $205.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, August 20th. Benchmark decreased their target price on shares of DoorDash from $285.00 to $270.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. Wells Fargo & Company boosted their price target on shares of DoorDash from $199.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Piper Sandler reiterated a “neutral” rating and issued a $220.00 price objective (up from $205.00) on shares of DoorDash in a report on Thursday, August 6th. Finally, Zacks Research raised DoorDash from a “strong sell” rating to a “hold” rating in a report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $257.47.

DoorDash Price Performance

NASDAQ DASH opened at $197.24 on Wednesday. The company has a 50-day moving average price of $204.83 and a two-hundred day moving average price of $179.36. DoorDash has a 52 week low of $143.30 and a 52 week high of $285.50. The stock has a market cap of $85.46 billion, a price-to-earnings ratio of 103.27 and a beta of 1.79. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The business had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same period last year, the firm posted $0.65 EPS. The business’s quarterly revenue was up 35.6% on a year-over-year basis. Analysts forecast that DoorDash will post 2.49 EPS for the current year.

Insider Buying and Selling at DoorDash

In other DoorDash news, COO Prabir Adarkar sold 55,289 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $231.76, for a total value of $12,813,778.64. Following the transaction, the chief operating officer owned 930,211 shares of the company’s stock, valued at approximately $215,585,701.36. This represents a 5.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ravi Inukonda sold 19,505 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $220.62, for a total value of $4,303,193.10. Following the sale, the chief financial officer owned 232,938 shares of the company’s stock, valued at $51,390,781.56. This trade represents a 7.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 399,553 shares of company stock worth $87,034,140. 44.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DoorDash

A number of institutional investors and hedge funds have recently modified their holdings of DASH. Sequoia Financial Advisors LLC raised its holdings in DoorDash by 1,148.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 99,622 shares of the company’s stock worth $18,383,000 after buying an additional 91,644 shares during the period. MCF Advisors LLC boosted its holdings in shares of DoorDash by 1,488.4% in the second quarter. MCF Advisors LLC now owns 2,462 shares of the company’s stock worth $454,000 after buying an additional 2,307 shares during the period. Bienville Capital Management LLC increased its position in shares of DoorDash by 17.3% in the second quarter. Bienville Capital Management LLC now owns 233,312 shares of the company’s stock worth $43,053,000 after acquiring an additional 34,470 shares in the last quarter. WINTON GROUP Ltd increased its position in shares of DoorDash by 5,773.9% in the second quarter. WINTON GROUP Ltd now owns 396,961 shares of the company’s stock worth $73,251,000 after acquiring an additional 390,203 shares in the last quarter. Finally, Capital Analysts LLC raised its holdings in shares of DoorDash by 12,352.4% during the second quarter. Capital Analysts LLC now owns 5,230 shares of the company’s stock valued at $965,000 after acquiring an additional 5,188 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Company Profile

DoorDash, Inc operates a local commerce platform that connects consumers with merchants and independent delivery workers. Its marketplace enables customers to order meals from restaurants as well as groceries, convenience items, alcohol where permitted, and products from other retail businesses through its websites and mobile applications.

The company also provides services designed to support merchants, including delivery logistics, online ordering, marketing, payment processing, and customer-engagement tools.