Guggenheim Reiterates “Buy” Rating for DoorDash (NASDAQ:DASH)

DoorDash (NASDAQ:DASH)‘s stock had its “buy” rating reissued by equities research analysts at Guggenheim in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $255.00 target price on the stock. Guggenheim’s price target would indicate a potential upside of 48.19% from the stock’s current price.

A number of other equities analysts also recently commented on DASH. UBS Group raised their target price on shares of DoorDash from $206.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Mizuho decreased their price target on shares of DoorDash from $320.00 to $255.00 and set an “outperform” rating for the company in a research report on Tuesday, March 3rd. DA Davidson lowered their price target on DoorDash from $224.00 to $200.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. BTIG Research reduced their price objective on DoorDash from $280.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, June 12th. Finally, TD Cowen assumed coverage on DoorDash in a research note on Monday, April 27th. They set a “buy” rating and a $225.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus price target of $256.11.

DoorDash Stock Performance

DoorDash stock opened at $172.08 on Tuesday. The stock’s 50-day moving average is $164.42 and its 200-day moving average is $182.84. The company has a market cap of $74.98 billion, a price-to-earnings ratio of 81.94 and a beta of 1.83. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43. DoorDash has a 12 month low of $143.30 and a 12 month high of $285.50.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The business had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The company’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 EPS. Equities analysts anticipate that DoorDash will post 2.44 earnings per share for the current year.

Insider Transactions at DoorDash

In related news, General Counsel Tia Sherringham sold 2,743 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $160.79, for a total transaction of $441,046.97. Following the sale, the general counsel directly owned 128,216 shares of the company’s stock, valued at approximately $20,615,850.64. This represents a 2.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 21,433 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $150.00, for a total value of $3,214,950.00. Following the transaction, the director owned 19,279 shares in the company, valued at $2,891,850. This trade represents a 52.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 58,558 shares of company stock worth $9,324,940. 5.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DASH. Eastern Bank grew its position in shares of DoorDash by 714.3% during the 4th quarter. Eastern Bank now owns 114 shares of the company’s stock valued at $26,000 after buying an additional 100 shares during the last quarter. MV Capital Management Inc. acquired a new position in DoorDash in the fourth quarter valued at approximately $26,000. Swiss RE Ltd. bought a new position in shares of DoorDash during the fourth quarter valued at approximately $28,000. ST Germain D J Co. Inc. acquired a new stake in shares of DoorDash during the 4th quarter worth approximately $29,000. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of DoorDash in the 4th quarter worth approximately $32,000. 90.64% of the stock is currently owned by institutional investors.

DoorDash Company Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.