DoorDash’s (DASH) “Overweight” Rating Reiterated at Cantor Fitzgerald

DoorDash (NASDAQ:DASH)‘s stock had its “overweight” rating restated by research analysts at Cantor Fitzgerald in a report released on Monday, Benzinga reports. They currently have a $160.00 price target on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 14.71% from the stock’s previous close.

Several other research analysts have also commented on the stock. UBS Group upped their price objective on shares of DoorDash from $125.00 to $143.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Evercore ISI raised their price objective on shares of DoorDash from $145.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. BTIG Research upgraded DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a report on Thursday. Redburn Atlantic began coverage on DoorDash in a research note on Friday, July 26th. They issued a “buy” rating and a $170.00 target price for the company. Finally, DA Davidson upped their price target on DoorDash from $110.00 to $119.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Eleven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $143.00.

DoorDash Stock Performance

DASH traded down $0.24 during midday trading on Monday, hitting $139.48. The stock had a trading volume of 771,476 shares, compared to its average volume of 3,953,535. DoorDash has a 1 year low of $69.90 and a 1 year high of $143.34. The business has a fifty day moving average of $121.37 and a 200 day moving average of $121.44. The company has a market cap of $57.04 billion, a P/E ratio of -129.15, a price-to-earnings-growth ratio of 275.59 and a beta of 1.69.

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

Insider Transactions at DoorDash

In other news, Director Shona L. Brown sold 1,712 shares of the company’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $110.97, for a total value of $189,980.64. Following the completion of the sale, the director now directly owns 70,191 shares in the company, valued at approximately $7,789,095.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Shona L. Brown sold 1,712 shares of DoorDash stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $110.97, for a total transaction of $189,980.64. Following the transaction, the director now directly owns 70,191 shares of the company’s stock, valued at approximately $7,789,095.27. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Shona L. Brown sold 5,005 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $120.00, for a total value of $600,600.00. Following the transaction, the director now owns 65,186 shares of the company’s stock, valued at $7,822,320. The disclosure for this sale can be found here. Insiders have sold 304,769 shares of company stock worth $34,760,113 in the last 90 days. 7.92% of the stock is currently owned by insiders.

Institutional Trading of DoorDash

Several institutional investors have recently made changes to their positions in DASH. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of DoorDash in the second quarter worth $3,812,000. Sanctuary Advisors LLC purchased a new position in shares of DoorDash during the second quarter valued at about $779,000. Dana Investment Advisors Inc. increased its holdings in shares of DoorDash by 7.4% in the second quarter. Dana Investment Advisors Inc. now owns 38,935 shares of the company’s stock worth $4,235,000 after purchasing an additional 2,692 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in shares of DoorDash by 0.4% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 155,950 shares of the company’s stock worth $16,964,000 after buying an additional 605 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in DoorDash by 7.2% during the second quarter. Cetera Investment Advisers now owns 11,747 shares of the company’s stock valued at $1,278,000 after buying an additional 788 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Company Profile

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.