DoorDash (NYSE:DASH) Upgraded to “Hold” by Jefferies Financial Group

Jefferies Financial Group upgraded shares of DoorDash (NYSE:DASH) from an underperform rating to a hold rating in a report issued on Monday morning, MarketBeat.com reports. The firm currently has $90.00 price objective on the stock, up from their previous price objective of $70.00.

Other research analysts have also issued research reports about the company. Mizuho raised their target price on DoorDash from $75.00 to $85.00 and gave the company a neutral rating in a report on Monday, July 31st. Barclays raised their target price on DoorDash from $75.00 to $90.00 and gave the company an equal weight rating in a report on Thursday, August 3rd. Gordon Haskett lowered DoorDash from a buy rating to a hold rating and dropped their target price for the company from $73.00 to $72.00 in a report on Wednesday, June 14th. Wedbush raised their target price on DoorDash from $75.00 to $85.00 and gave the company a neutral rating in a report on Thursday, August 3rd. Finally, Bank of America raised their target price on DoorDash from $82.00 to $95.00 and gave the company a buy rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $88.86.

DoorDash Stock Performance

Shares of NYSE:DASH opened at $83.27 on Monday. The business’s 50 day simple moving average is $82.16 and its two-hundred day simple moving average is $70.47. The firm has a market cap of $32.75 billion, a P/E ratio of -25.46 and a beta of 1.63. DoorDash has a 52-week low of $41.37 and a 52-week high of $92.61.

DoorDash (NYSE:DASH) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.02). The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.06 billion. DoorDash had a negative return on equity of 13.14% and a negative net margin of 16.47%. The firm’s revenue was up 32.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.72) EPS. On average, equities analysts forecast that DoorDash will post -1.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other DoorDash news, Director Andy Fang sold 67,000 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $80.97, for a total value of $5,424,990.00. Following the completion of the sale, the director now directly owns 45,296 shares of the company’s stock, valued at $3,667,617.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Prabir Adarkar sold 8,000 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $81.81, for a total value of $654,480.00. Following the completion of the transaction, the chief operating officer now directly owns 978,676 shares of the company’s stock, valued at $80,065,483.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andy Fang sold 67,000 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $80.97, for a total value of $5,424,990.00. Following the completion of the transaction, the director now directly owns 45,296 shares of the company’s stock, valued at $3,667,617.12. The disclosure for this sale can be found here. Insiders sold 932,697 shares of company stock valued at $74,704,414 over the last ninety days. 9.59% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DoorDash

A number of large investors have recently made changes to their positions in the stock. Nordea Investment Management AB boosted its stake in DoorDash by 1.1% during the first quarter. Nordea Investment Management AB now owns 16,494 shares of the company’s stock valued at $1,032,000 after buying an additional 177 shares during the period. Citigroup Inc. boosted its stake in DoorDash by 2.4% during the first quarter. Citigroup Inc. now owns 134,314 shares of the company’s stock valued at $8,537,000 after buying an additional 3,091 shares during the period. Treasurer of the State of North Carolina boosted its stake in DoorDash by 0.6% during the first quarter. Treasurer of the State of North Carolina now owns 113,443 shares of the company’s stock valued at $7,210,000 after buying an additional 720 shares during the period. Bessemer Group Inc. boosted its stake in DoorDash by 1.0% during the fourth quarter. Bessemer Group Inc. now owns 651,297 shares of the company’s stock valued at $31,796,000 after buying an additional 6,471 shares during the period. Finally, Guggenheim Capital LLC boosted its stake in DoorDash by 87.1% during the first quarter. Guggenheim Capital LLC now owns 11,697 shares of the company’s stock valued at $743,000 after buying an additional 5,446 shares during the period. 75.84% of the stock is owned by institutional investors.

About DoorDash

DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash and Wolt marketplaces, 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; DashPass and Wolt+, a membership products; and offers DoorDash Drive and Wolt Drive, a white-label delivery fulfillment services; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce; and Bbot, which offers merchants digital ordering and payment solutions for in-store and online channels.