DoorDash (NASDAQ:DASH) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of DoorDash (NASDAQ:DASH) from a hold rating to a buy rating in a research report released on Friday morning.

Several other research firms have also commented on DASH. Oppenheimer boosted their price target on DoorDash from $280.00 to $310.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Weiss Ratings restated a “hold (c)” rating on shares of DoorDash in a report on Saturday, September 27th. Truist Financial boosted their target price on shares of DoorDash from $272.00 to $326.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Benchmark upped their price target on DoorDash from $260.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Finally, Piper Sandler increased their price objective on shares of DoorDash from $210.00 to $290.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $275.27.

DoorDash Stock Performance

NASDAQ:DASH opened at $271.22 on Friday. The firm’s fifty day simple moving average is $255.52 and its 200 day simple moving average is $224.37. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. DoorDash has a twelve month low of $141.26 and a twelve month high of $278.15. The firm has a market capitalization of $115.87 billion, a price-to-earnings ratio of 150.68 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $3.16 billion. During the same period last year, the company posted ($0.38) earnings per share. The firm’s 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 earnings per share for the current fiscal year.

Insider Buying and Selling at DoorDash

In related news, Director Stanley Tang sold 45,410 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $247.11, for a total transaction of $11,221,265.10. Following the completion of the sale, the director directly owned 26,070 shares of the company’s stock, valued at $6,442,157.70. This represents a 63.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $275.74, for a total transaction of $13,787,000.00. Following the sale, the director owned 22,545 shares of the company’s stock, valued at $6,216,558.30. The trade was a 68.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,001,417 shares of company stock worth $249,569,754. 5.83% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DoorDash

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Night Squared LP acquired a new position in shares of DoorDash in the 1st quarter valued at $2,780,000. Mutual of America Capital Management LLC acquired a new position in shares of DoorDash in the first quarter worth about $7,200,000. Public Investment Fund boosted its holdings in shares of DoorDash by 68.3% in the first quarter. Public Investment Fund now owns 821,389 shares of the company’s stock worth $150,125,000 after buying an additional 333,369 shares during the period. Ardmore Road Asset Management LP increased its position in shares of DoorDash by 6.7% in the first quarter. Ardmore Road Asset Management LP now owns 80,000 shares of the company’s stock worth $14,622,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Junto Capital Management LP acquired a new stake in shares of DoorDash during the first quarter valued at approximately $29,261,000. 90.64% of the stock is owned by institutional investors and hedge funds.

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.