Cantor Fitzgerald Reiterates “Overweight” Rating for DoorDash (NASDAQ:DASH)

DoorDash (NASDAQ:DASH)‘s stock had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald in a note issued to investors on Tuesday,Benzinga reports. They presently have a $200.00 price target on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 7.65% from the company’s current price. Cantor Fitzgerald also issued estimates for DoorDash’s FY2025 earnings at $1.26 EPS.

Other research analysts have also recently issued reports about the company. Wolfe Research increased their price target on DoorDash from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Needham & Company LLC lifted their price target on DoorDash from $145.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. The Goldman Sachs Group boosted their price target on DoorDash from $161.00 to $192.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th. JMP Securities reiterated a “market outperform” rating and issued a $200.00 price objective on shares of DoorDash in a report on Thursday, January 2nd. Finally, Benchmark boosted their target price on shares of DoorDash from $152.00 to $173.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $178.18.

DoorDash Stock Up 0.7 %

NASDAQ:DASH opened at $185.78 on Tuesday. DoorDash has a twelve month low of $99.32 and a twelve month high of $186.79. The stock’s 50-day simple moving average is $174.76 and its 200 day simple moving average is $150.11. The firm has a market capitalization of $77.17 billion, a PE ratio of -412.84, a price-to-earnings-growth ratio of 1.85 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.17. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The firm’s 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. On average, analysts anticipate that DoorDash will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In other news, CFO Ravi Inukonda sold 1,425 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $183.20, for a total transaction of $261,060.00. Following the completion of the sale, the chief financial officer now directly owns 366,993 shares of the company’s stock, valued at $67,233,117.60. The trade was a 0.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Prabir Adarkar sold 20,000 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $180.83, for a total transaction of $3,616,600.00. Following the completion of the sale, the chief operating officer now owns 925,222 shares in the company, valued at $167,307,894.26. This represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,040,758 shares of company stock valued at $181,434,201. Company insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DASH. Asset Management One Co. Ltd. raised its position in DoorDash by 10.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock valued at $16,012,000 after buying an additional 10,755 shares during the last quarter. Forsta AP Fonden grew its stake in shares of DoorDash by 18.6% in the 3rd quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock worth $9,206,000 after acquiring an additional 10,100 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in shares of DoorDash by 48.8% in the third quarter. Sanctuary Advisors LLC now owns 10,663 shares of the company’s stock valued at $1,522,000 after purchasing an additional 3,498 shares during the last quarter. Baillie Gifford & Co. lifted its position in shares of DoorDash by 13.2% during the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after purchasing an additional 1,645,186 shares in the last quarter. Finally, CWM LLC boosted its holdings in DoorDash by 97.1% during the third quarter. CWM LLC now owns 10,705 shares of the company’s stock worth $1,528,000 after purchasing an additional 5,273 shares during the last quarter. Hedge funds and other institutional investors 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.