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

Shares of DoorDash, Inc. (NASDAQ:DASH) have earned an average recommendation of “Moderate Buy” from the thirty-four brokerages that are presently covering the stock, MarketBeat.com reports. Ten research analysts have rated the stock with a hold recommendation and twenty-four have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $166.06.

Several brokerages have issued reports on DASH. Loop Capital raised their price objective on shares of DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Barclays raised their price target on DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. BTIG Research raised DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a research report on Thursday, September 19th. Keefe, Bruyette & Woods upgraded DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 target price on the stock in a research note on Wednesday, September 25th. Finally, Jefferies Financial Group boosted their target price on shares of DoorDash from $155.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd.

Insider Activity at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total value of $6,510,000.00. Following the sale, the director now directly owns 18,089 shares of the company’s stock, valued at approximately $2,355,187.80. This represents a 73.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Keith Yandell sold 5,509 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $176.24, for a total value of $970,906.16. Following the completion of the transaction, the insider now directly owns 118,712 shares of the company’s stock, valued at approximately $20,921,802.88. This trade represents a 4.43 % decrease in their position. 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 over the last quarter. Insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Several institutional investors have recently made changes to their positions in DASH. Baillie Gifford & Co. grew its position in DoorDash by 13.2% during the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after buying an additional 1,645,186 shares during the period. Dragoneer Investment Group LLC grew its position in shares of DoorDash by 77.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock valued at $309,755,000 after acquiring an additional 1,246,567 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of DoorDash by 216.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock valued at $154,486,000 after purchasing an additional 739,961 shares in the last quarter. Jupiter Asset Management Ltd. raised its holdings in DoorDash by 3,284.7% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 729,779 shares of the company’s stock worth $79,385,000 after purchasing an additional 708,218 shares during the period. Finally, Janus Henderson Group PLC boosted its position in DoorDash by 14.5% during the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock worth $789,766,000 after purchasing an additional 700,465 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Stock Performance

Shares of NASDAQ:DASH opened at $178.44 on Friday. The firm has a market cap of $74.12 billion, a price-to-earnings ratio of -396.53, a P/E/G ratio of 13.77 and a beta of 1.67. The firm has a fifty day moving average price of $156.47 and a 200 day moving average price of $130.31. DoorDash has a fifty-two week low of $92.58 and a fifty-two week high of $181.30.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data 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 return on equity of 2.41% and a negative net margin of 1.69%. The company had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the previous year, the firm posted ($0.19) earnings per share. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. As a group, research analysts predict that DoorDash will post 0.26 earnings per share for the current year.

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.