DoorDash (NASDAQ:DASH) Hits New 1-Year High After Earnings Beat

Shares of DoorDash, Inc. (NASDAQ:DASH) hit a new 52-week high on Thursday following a better than expected earnings announcement. The company traded as high as $165.07 and last traded at $160.00, with a volume of 1383663 shares traded. The stock had previously closed at $155.25.

The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The company’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.19) EPS.

Analysts Set New Price Targets

DASH has been the subject of a number of research reports. Redburn Atlantic began coverage on DoorDash in a research report on Friday, July 26th. They set a “buy” rating and a $170.00 price objective for the company. BTIG Research raised DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a report on Thursday, September 19th. Bank of America boosted their target price on DoorDash from $168.00 to $172.00 and gave the stock a “buy” rating in a report on Thursday. Oppenheimer boosted their target price on DoorDash from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Finally, Piper Sandler upped their price objective on DoorDash from $125.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday. Ten investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $159.42.

Insider Activity

In related news, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $123.43, for a total value of $6,685,709.38. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction that occurred 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 transaction, the director now directly owns 18,089 shares of the company’s stock, valued at $2,355,187.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $123.43, for a total transaction of $6,685,709.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 383,710 shares of company stock worth $53,725,640. Corporate insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Baillie Gifford & Co. grew its stake in shares of DoorDash by 0.8% during the second quarter. Baillie Gifford & Co. now owns 12,497,488 shares of the company’s stock worth $1,359,477,000 after buying an additional 94,241 shares during the last quarter. Capital World Investors grew its stake in shares of DoorDash by 0.8% during the first quarter. Capital World Investors now owns 9,470,247 shares of the company’s stock worth $1,304,242,000 after buying an additional 74,504 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of DoorDash by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,469,647 shares of the company’s stock worth $753,281,000 after buying an additional 242,956 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of DoorDash by 11,416.7% during the first quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock worth $475,837,000 after buying an additional 3,425,115 shares during the last quarter. Finally, Dragoneer Investment Group LLC grew its stake in shares of DoorDash by 77.9% during the second quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock worth $309,755,000 after buying an additional 1,246,567 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

DoorDash Stock Up 0.9 %

The stock has a market cap of $64.49 billion, a P/E ratio of -153.63, a PEG ratio of 425.82 and a beta of 1.70. The business’s 50 day simple moving average is $139.86 and its two-hundred day simple moving average is $124.05.

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.