DoorDash (NASDAQ:DASH) Receives “Market Outperform” Rating from JMP Securities

JMP Securities reiterated their market outperform rating on shares of DoorDash (NASDAQ:DASH) in a research report released on Thursday morning,Benzinga reports. The firm currently has a $200.00 target price on the stock.

Other equities analysts also recently issued research reports about the stock. Needham & Company LLC lifted their target price on shares of DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Raymond James began coverage on shares of DoorDash in a report on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 price objective for the company. Wells Fargo & Company boosted their target price on shares of DoorDash from $127.00 to $142.00 and gave the company an “equal weight” rating in a report on Friday, October 4th. BMO Capital Markets increased their price objective on DoorDash from $140.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, DA Davidson lifted their target price on DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Nine equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and an average price target of $168.70.

DoorDash Stock Performance

Shares of DASH stock opened at $170.65 on Thursday. The firm has a market cap of $70.89 billion, a price-to-earnings ratio of -379.22, a P/E/G ratio of 13.56 and a beta of 1.70. DoorDash has a 52 week low of $93.33 and a 52 week high of $181.78. The firm’s 50-day simple moving average is $170.94 and its two-hundred day simple moving average is $141.09.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period last year, the business posted ($0.19) earnings per share. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. Analysts forecast that DoorDash will post 0.26 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In other news, Director Stanley Tang sold 1,855 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total transaction of $315,312.90. Following the completion of the sale, the director now directly owns 35,413 shares in the company, valued at approximately $6,019,501.74. This represents a 4.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Tony Xu sold 81,249 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $147.87, for a total value of $12,014,289.63. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 924,362 shares of company stock worth $156,181,429. 7.92% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DoorDash

Several institutional investors and hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. lifted its holdings in 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 period. Dragoneer Investment Group LLC increased its stake in shares of DoorDash by 77.9% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock worth $309,755,000 after acquiring an additional 1,246,567 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in DoorDash by 216.1% during 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 acquiring an additional 739,961 shares during the period. Jupiter Asset Management Ltd. boosted its stake in DoorDash by 3,284.7% during the second quarter. Jupiter Asset Management Ltd. now owns 729,779 shares of the company’s stock worth $79,385,000 after acquiring an additional 708,218 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in DoorDash by 14.5% in 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 during the period. 90.64% of the stock is owned by hedge funds and other 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.