DoorDash’s (DASH) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of DoorDash (NASDAQ:DASH) in a research report sent to investors on Tuesday,Benzinga reports. Cantor Fitzgerald currently has a $200.00 price target on the stock.

A number of other equities research analysts have also commented on the stock. Barclays upped their price target on shares of DoorDash from $120.00 to $163.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Bank of America increased their target price on shares of DoorDash from $172.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. boosted their price target on DoorDash from $137.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and issued a $200.00 price objective on shares of DoorDash in a report on Thursday, January 2nd. Finally, Truist Financial boosted their target price on DoorDash from $180.00 to $217.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Nine investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and an average target price of $178.18.

DoorDash Trading Up 1.1 %

Shares of NASDAQ:DASH opened at $184.51 on Tuesday. The stock has a market capitalization of $76.65 billion, a P/E ratio of -410.02, a price-to-earnings-growth ratio of 1.85 and a beta of 1.71. The stock’s 50-day moving average price is $174.49 and its 200-day moving average price is $149.86. DoorDash has a 12-month low of $99.32 and a 12-month high of $185.38.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The business’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.19) EPS. As a group, research analysts predict that DoorDash will post 0.29 EPS for the current year.

Insider Buying and Selling

In other news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $168.32, for a total value of $8,416,000.00. Following the transaction, the director now directly owns 16,176 shares in the company, valued at $2,722,744.32. This trade represents a 75.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Tony Xu sold 115,432 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $177.01, for a total value of $20,432,618.32. Following the sale, the chief executive officer now owns 1,500 shares of the company’s stock, valued at approximately $265,515. This trade represents a 98.72 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,040,758 shares of company stock worth $181,434,201. 7.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DoorDash

A number of large investors have recently made changes to their positions in the company. Baillie Gifford & Co. boosted its holdings in shares of DoorDash by 13.2% in the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after buying an additional 1,645,186 shares during the last quarter. State Street Corp boosted its stake in shares of DoorDash by 3.8% during the 3rd quarter. State Street Corp now owns 7,395,891 shares of the company’s stock worth $1,055,616,000 after acquiring an additional 272,659 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of DoorDash by 14.5% during the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock worth $789,766,000 after acquiring an additional 700,465 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of DoorDash by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company’s stock worth $636,652,000 after purchasing an additional 267,855 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of DoorDash by 15.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock worth $570,135,000 after purchasing an additional 501,905 shares in the last quarter. 90.64% of the stock is currently 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.