DoorDash (NASDAQ:DASH) Upgraded to Buy at BTIG Research

DoorDash (NASDAQ:DASH) was upgraded by research analysts at BTIG Research from a “neutral” rating to a “buy” rating in a research report issued on Thursday, MarketBeat reports. The firm presently has a $155.00 price objective on the stock. BTIG Research’s price objective indicates a potential upside of 17.00% from the stock’s previous close.

DASH has been the topic of several other research reports. Barclays lifted their price objective on shares of DoorDash from $113.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Roth Mkm boosted their price target on shares of DoorDash from $118.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. raised their price objective on DoorDash from $111.00 to $137.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. KeyCorp initiated coverage on DoorDash in a report on Thursday, July 11th. They issued a “sector weight” rating on the stock. Finally, Wells Fargo & Company increased their price target on DoorDash from $125.00 to $127.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Eleven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $143.00.

DoorDash Stock Performance

Shares of DoorDash stock opened at $132.48 on Thursday. The company has a fifty day moving average of $119.51 and a 200 day moving average of $121.34. The company has a market capitalization of $54.17 billion, a P/E ratio of -122.67, a P/E/G ratio of 275.59 and a beta of 1.69. DoorDash has a fifty-two week low of $69.90 and a fifty-two week high of $143.34.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The business’s revenue was up 23.3% on a year-over-year basis. During the same period last year, the company earned ($0.44) EPS. Analysts forecast that DoorDash will post 0.01 EPS for the current year.

Insider Buying and Selling at DoorDash

In other news, CEO Tony Xu sold 54,166 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $104.96, for a total value of $5,685,263.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $104.96, for a total value of $5,685,263.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $105.57, for a total transaction of $5,278,500.00. Following the completion of the transaction, the director now directly owns 19,982 shares in the company, valued at approximately $2,109,499.74. The disclosure for this sale can be found here. Insiders sold 304,769 shares of company stock worth $34,760,113 over the last 90 days. Company insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

A number of large investors have recently modified their holdings of the company. Meeder Asset Management Inc. raised its position in DoorDash by 82.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after purchasing an additional 132 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of DoorDash during the second quarter valued at $32,000. Versant Capital Management Inc raised its holdings 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 acquiring an additional 259 shares in the last quarter. ORG Partners LLC lifted its stake in DoorDash by 2,108.3% in the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock worth $37,000 after acquiring an additional 253 shares during the period. Finally, Quest Partners LLC grew its holdings in DoorDash by 146.8% during the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after acquiring an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

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.