DoorDash, Inc. (NASDAQ:DASH) Given Consensus Rating of “Moderate Buy” by Brokerages

DoorDash, Inc. (NASDAQ:DASH) has been given a consensus rating of “Moderate Buy” by the thirty-four ratings firms that are currently covering the company, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $166.06.

A number of analysts have issued reports on DASH shares. Truist Financial raised their target price on DoorDash from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. UBS Group upped their price objective on DoorDash from $143.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, October 18th. JPMorgan Chase & Co. upped their price target on DoorDash from $137.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Mizuho raised their price target on DoorDash from $162.00 to $173.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Oppenheimer increased their target price on shares of DoorDash from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, September 27th.

Insider Buying and Selling

In other news, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $140.06, for a total transaction of $7,586,489.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $143.76, for a total value of $7,188,000.00. Following the transaction, the director now owns 18,089 shares of the company’s stock, valued at $2,600,474.64. This represents a 73.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 546,262 shares of company stock worth $84,620,882 in the last quarter. Company insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rakuten Securities Inc. boosted its position in DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after acquiring an additional 130 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in shares of DoorDash by 82.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after purchasing an additional 132 shares during the period. Headlands Technologies LLC purchased a new stake in shares of DoorDash in the second quarter valued at $32,000. Versant Capital Management Inc grew its position in shares of DoorDash by 340.8% in the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after purchasing an additional 259 shares during the period. Finally, Quest Partners LLC lifted its position in DoorDash by 146.8% during the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after buying an additional 204 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Stock Performance

Shares of DASH opened at $178.44 on Friday. The stock has a 50 day moving average price of $156.47 and a 200 day moving average price of $130.31. DoorDash has a one year low of $92.58 and a one year high of $181.30. The stock has a market capitalization of $74.12 billion, a price-to-earnings ratio of -396.53, a PEG ratio of 13.77 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period last year, the firm posted ($0.19) earnings per share. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, analysts predict that DoorDash will post 0.26 earnings per share for the current year.

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.