DoorDash (NASDAQ:DASH) Stock Rating Upgraded by Argus

DoorDash (NASDAQ:DASH) was upgraded by investment analysts at Argus from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, MarketBeat Ratings reports.

Other research analysts have also issued research reports about the company. BMO Capital Markets increased their price target on DoorDash from $140.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. KeyCorp increased their target price on shares of DoorDash from $177.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Susquehanna lifted their target price on shares of DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a report on Friday, November 1st. BTIG Research raised DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a research report on Thursday, September 19th. Finally, Piper Sandler boosted their price target on DoorDash from $125.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Nine research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and an average price target of $168.39.

DoorDash Stock Performance

NASDAQ:DASH opened at $171.00 on Friday. DoorDash has a 1 year low of $93.33 and a 1 year high of $181.78. The stock has a fifty day moving average price of $167.59 and a two-hundred day moving average price of $137.52. The stock has a market capitalization of $71.03 billion, a price-to-earnings ratio of -380.00, a PEG ratio of 13.56 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating 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 analyst estimates of $2.66 billion. During the same quarter in the prior year, the company earned ($0.19) earnings per share. DoorDash’s revenue was up 25.0% compared to the same quarter last year. On average, analysts predict that DoorDash will post 0.26 EPS for the current year.

Insider Buying and Selling

In related news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $140.06, for a total transaction of $7,586,489.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Ravi Inukonda sold 7,000 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $179.76, for a total transaction of $1,258,320.00. Following the completion of the sale, the chief financial officer now owns 373,993 shares of the company’s stock, valued at $67,228,981.68. The trade was a 1.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 951,528 shares of company stock worth $159,212,079 in the last three months. Insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Brighton Jones LLC grew its position in shares of DoorDash by 0.8% during the 2nd quarter. Brighton Jones LLC now owns 10,317 shares of the company’s stock worth $1,122,000 after buying an additional 82 shares during the period. E Fund Management Co. Ltd. boosted its stake in DoorDash by 3.5% in the second quarter. E Fund Management Co. Ltd. now owns 3,263 shares of the company’s stock valued at $355,000 after acquiring an additional 111 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in DoorDash by 39.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 424 shares of the company’s stock worth $61,000 after acquiring an additional 119 shares during the period. Rakuten Securities Inc. raised its position in shares of DoorDash by 302.3% during the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after acquiring an additional 130 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its position in shares of DoorDash by 82.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after acquiring an additional 132 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

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.