DoorDash, Inc. (NASDAQ:DASH) Receives Consensus Rating of “Moderate Buy” from Analysts

DoorDash, Inc. (NASDAQ:DASH) has earned a consensus rating of “Moderate Buy” from the thirty-four analysts that are covering the company, MarketBeat reports. Nine equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $168.39.

A number of research analysts have issued reports on the stock. Wells Fargo & Company upped their target price on shares of DoorDash from $127.00 to $142.00 and gave the company an “equal weight” rating in a research report on Friday, October 4th. UBS Group raised their price objective on shares of DoorDash from $143.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Bank of America upped their target price on shares of DoorDash from $168.00 to $172.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Keefe, Bruyette & Woods upgraded DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price target on the stock in a research report on Wednesday, September 25th. Finally, Piper Sandler upped their price objective on DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, October 31st.

DoorDash Stock Performance

NASDAQ:DASH opened at $169.94 on Tuesday. The company has a market cap of $70.59 billion, a price-to-earnings ratio of -377.64, a P/E/G ratio of 13.56 and a beta of 1.70. The stock’s fifty day moving average price is $167.59 and its two-hundred day moving average price is $137.90. DoorDash has a 52-week low of $93.33 and a 52-week high of $181.78.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. The company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.19) earnings per share. On average, equities analysts predict that DoorDash will post 0.26 EPS for the current fiscal year.

Insider Activity at DoorDash

In other news, General Counsel Tia Sherringham sold 12,950 shares of DoorDash stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total value of $2,201,241.00. Following the completion of the transaction, the general counsel now owns 145,917 shares of the company’s stock, valued at $24,802,971.66. This trade represents a 8.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Tony Xu sold 108,332 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $178.74, for a total transaction of $19,363,261.68. Following the completion of the sale, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $268,110. The trade was a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 897,362 shares of company stock valued at $151,625,589. 7.92% of the stock is owned by insiders.

Institutional Trading of DoorDash

Hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. lifted 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 worth $2,018,584,000 after acquiring an additional 1,645,186 shares during the last quarter. Dragoneer Investment Group LLC boosted its stake in DoorDash by 77.9% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock valued at $309,755,000 after purchasing an additional 1,246,567 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in 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 buying an additional 739,961 shares in the last quarter. Jupiter Asset Management Ltd. increased its position in DoorDash by 3,284.7% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 729,779 shares of the company’s stock worth $79,385,000 after buying an additional 708,218 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of 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 buying an additional 700,465 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

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.