DoorDash (NYSE:DASH) Coverage Initiated by Analysts at The Goldman Sachs Group

Analysts at The Goldman Sachs Group assumed coverage on shares of DoorDash (NYSE:DASHGet Rating) in a research report issued to clients and investors on Tuesday, The Fly reports. The firm set a “neutral” rating on the stock.

DASH has been the subject of a number of other reports. Raymond James started coverage on shares of DoorDash in a research note on Monday, June 6th. They issued a “market perform” rating for the company. Morgan Stanley started coverage on shares of DoorDash in a research note on Monday, April 25th. They issued an “equal weight” rating and a $100.00 price objective for the company. Royal Bank of Canada reduced their price objective on shares of DoorDash from $142.00 to $94.00 in a research note on Friday, May 6th. Needham & Company LLC dropped their target price on shares of DoorDash from $160.00 to $140.00 in a research report on Friday, May 6th. Finally, Evercore ISI dropped their target price on shares of DoorDash from $135.00 to $116.00 and set an “outperform” rating on the stock in a research report on Thursday, June 2nd. Ten analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $151.24.

NYSE DASH opened at $61.69 on Tuesday. The stock has a market capitalization of $21.67 billion, a PE ratio of -40.32 and a beta of 1.03. The company has a 50 day moving average price of $76.57 and a two-hundred day moving average price of $103.99. DoorDash has a 12-month low of $56.67 and a 12-month high of $257.25.

DoorDash (NYSE:DASHGet Rating) last posted its earnings results on Thursday, May 5th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.08). The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.38 billion. DoorDash had a negative net margin of 9.97% and a negative return on equity of 11.29%. DoorDash’s revenue was up 35.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.34) earnings per share. On average, analysts expect that DoorDash will post -1.64 EPS for the current fiscal year.

In other DoorDash news, General Counsel Tia Sherringham sold 625 shares of the company’s stock in a transaction dated Friday, March 25th. The shares were sold at an average price of $113.94, for a total transaction of $71,212.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Christopher D. Payne sold 22,000 shares of the company’s stock in a transaction dated Monday, March 28th. The shares were sold at an average price of $109.28, for a total value of $2,404,160.00. The disclosure for this sale can be found here. Insiders sold a total of 330,798 shares of company stock worth $28,651,116 in the last 90 days. 15.54% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Teachers Retirement System of The State of Kentucky grew its stake in shares of DoorDash by 33.7% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 61,495 shares of the company’s stock worth $7,207,000 after acquiring an additional 15,500 shares in the last quarter. Bank of America Corp DE grew its stake in shares of DoorDash by 112.7% during the 1st quarter. Bank of America Corp DE now owns 918,983 shares of the company’s stock worth $107,695,000 after acquiring an additional 486,965 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of DoorDash by 834.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 142,222 shares of the company’s stock worth $16,807,000 after acquiring an additional 126,998 shares in the last quarter. Toroso Investments LLC grew its stake in shares of DoorDash by 9.1% during the 1st quarter. Toroso Investments LLC now owns 7,833 shares of the company’s stock worth $918,000 after acquiring an additional 654 shares in the last quarter. Finally, Capital Research Global Investors grew its stake in shares of DoorDash by 2.6% during the 1st quarter. Capital Research Global Investors now owns 9,236,153 shares of the company’s stock worth $1,082,394,000 after acquiring an additional 229,899 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Company Profile (Get Rating)

DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.

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