DoorDash’s (DASH) “Buy” Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of DoorDash (NASDAQ:DASH) in a report published on Monday, MarketBeat Ratings reports. They currently have a $315.00 price objective on the stock.

A number of other analysts also recently weighed in on DASH. Weiss Ratings reiterated a “hold (c)” rating on shares of DoorDash in a research report on Wednesday, October 8th. Raymond James Financial reiterated a “strong-buy” rating and set a $325.00 target price (up from $275.00) on shares of DoorDash in a research report on Thursday, August 7th. JPMorgan Chase & Co. upgraded DoorDash from a “neutral” rating to an “overweight” rating and upped their target price for the company from $175.00 to $325.00 in a research report on Tuesday, October 14th. Evercore ISI reiterated an “outperform” rating and set a $360.00 target price (up from $240.00) on shares of DoorDash in a research report on Friday, August 8th. Finally, Jefferies Financial Group upped their target price on DoorDash from $265.00 to $280.00 and gave the company a “hold” rating in a research report on Friday, October 17th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $285.26.

DoorDash Stock Performance

DASH opened at $252.31 on Monday. The business has a fifty day simple moving average of $259.41 and a 200 day simple moving average of $231.32. The company has a market capitalization of $107.79 billion, a PE ratio of 140.17 and a beta of 1.71. DoorDash has a 1 year low of $150.26 and a 1 year high of $285.50. 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 released its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.23. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The firm’s quarterly revenue was up 24.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.38) EPS. Research analysts expect that DoorDash will post 2.22 EPS for the current year.

Insider Activity at DoorDash

In related news, Director Stanley Tang sold 45,410 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $268.23, for a total transaction of $12,180,324.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Ravi Inukonda sold 1,425 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $263.86, for a total value of $376,000.50. Following the transaction, the chief financial officer directly owned 214,147 shares in the company, valued at approximately $56,504,827.42. This trade represents a 0.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 964,530 shares of company stock worth $241,651,966 over the last quarter. 5.83% of the stock is owned by company insiders.

Hedge Funds Weigh In On DoorDash

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in DoorDash by 4.6% during the second quarter. Vanguard Group Inc. now owns 41,190,085 shares of the company’s stock valued at $10,153,768,000 after purchasing an additional 1,792,799 shares during the period. State Street Corp boosted its holdings in shares of DoorDash by 3.1% in the second quarter. State Street Corp now owns 14,387,499 shares of the company’s stock worth $3,546,662,000 after acquiring an additional 427,722 shares during the period. Geode Capital Management LLC boosted its holdings in shares of DoorDash by 2.9% in the second quarter. Geode Capital Management LLC now owns 7,951,230 shares of the company’s stock worth $1,950,711,000 after acquiring an additional 223,188 shares during the period. Invesco Ltd. boosted its holdings in shares of DoorDash by 12.0% in the second quarter. Invesco Ltd. now owns 5,375,480 shares of the company’s stock worth $1,325,110,000 after acquiring an additional 575,629 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of DoorDash by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company’s stock worth $897,031,000 after acquiring an additional 641,601 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.