DoorDash (NASDAQ:DASH) Coverage Initiated by Analysts at Raymond James

Equities researchers at Raymond James initiated coverage on shares of DoorDash (NASDAQ:DASH) in a research report issued to clients and investors on Tuesday, StockNewsAPI reports. The brokerage set an “outperform” rating and a $155.00 price target on the stock. Raymond James’ price target indicates a potential upside of 11.10% from the company’s previous close.

A number of other analysts also recently weighed in on DASH. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of DoorDash in a research report on Monday. Susquehanna boosted their price objective on shares of DoorDash from $135.00 to $140.00 and gave the stock a “positive” rating in a report on Monday, August 5th. JPMorgan Chase & Co. increased their target price on shares of DoorDash from $111.00 to $137.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Redburn Atlantic assumed coverage on shares of DoorDash in a research note on Friday, July 26th. They issued a “buy” rating and a $170.00 price target for the company. Finally, BMO Capital Markets raised their price objective on DoorDash from $127.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Eleven investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and a consensus target price of $143.40.

DoorDash Price Performance

Shares of DASH opened at $139.51 on Tuesday. DoorDash has a 1-year low of $69.90 and a 1-year high of $143.34. The company has a market capitalization of $57.05 billion, a P/E ratio of -129.18, a P/E/G ratio of 275.59 and a beta of 1.69. The firm’s 50 day simple moving average is $122.05 and its 200 day simple moving average is $121.48.

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

Insider Buying and Selling

In other DoorDash news, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $107.75, for a total transaction of $5,836,386.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Andy Fang sold 50,000 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $105.57, for a total transaction of $5,278,500.00. Following the sale, the director now directly owns 19,982 shares of the company’s stock, valued at approximately $2,109,499.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $107.75, for a total transaction of $5,836,386.50. The disclosure for this sale can be found here. Insiders have sold 303,057 shares of company stock valued at $34,570,133 over the last quarter. Corporate insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

A number of institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its holdings in DoorDash by 40.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 15,431 shares of the company’s stock worth $1,526,000 after buying an additional 4,475 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of DoorDash by 102.5% during the fourth quarter. Wells Fargo & Company MN now owns 199,152 shares of the company’s stock valued at $19,694,000 after purchasing an additional 100,787 shares during the last quarter. Corient Private Wealth LLC raised its holdings in shares of DoorDash by 4.2% during the fourth quarter. Corient Private Wealth LLC now owns 8,015 shares of the company’s stock valued at $793,000 after purchasing an additional 320 shares during the last quarter. US Bancorp DE lifted its position in DoorDash by 9.1% during the fourth quarter. US Bancorp DE now owns 6,874 shares of the company’s stock valued at $680,000 after purchasing an additional 573 shares during the period. Finally, Commerce Bank boosted its holdings in DoorDash by 3.4% in the fourth quarter. Commerce Bank now owns 5,073 shares of the company’s stock worth $502,000 after purchasing an additional 166 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.