DoorDash’s (DASH) Hold Rating Reiterated at Jefferies Financial Group

Jefferies Financial Group reiterated their hold rating on shares of DoorDash (NASDAQ:DASH) in a research note published on Tuesday morning, MarketBeat.com reports. Jefferies Financial Group currently has a $250.00 target price on the stock, up from their prior target price of $235.00.

A number of other equities analysts have also weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of DoorDash from $198.00 to $239.00 and gave the stock an “equal weight” rating in a report on Monday, July 7th. Needham & Company LLC boosted their price objective on shares of DoorDash from $225.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $230.00 target price on shares of DoorDash in a research report on Wednesday, May 7th. JPMorgan Chase & Co. cut their target price on shares of DoorDash from $205.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Finally, Morgan Stanley cut their target price on shares of DoorDash from $245.00 to $210.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Eleven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $226.97.

DoorDash Price Performance

NASDAQ DASH opened at $235.02 on Tuesday. The stock has a market capitalization of $99.59 billion, a PE ratio of 305.22 and a beta of 1.70. DoorDash has a 1 year low of $99.32 and a 1 year high of $248.74. The business’s 50-day moving average is $220.61 and its 200 day moving average is $197.89.

DoorDash (NASDAQ:DASH) last posted its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.05. The company had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.10 billion. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. DoorDash’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period last year, the firm earned ($0.06) earnings per share. As a group, equities research analysts anticipate that DoorDash will post 2.22 earnings per share for the current year.

Insider Buying and Selling

In other DoorDash news, Director Stanley Tang sold 45,410 shares of the firm’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $240.69, for a total value of $10,929,732.90. Following the completion of the transaction, the director owned 26,070 shares of the company’s stock, valued at approximately $6,274,788.30. This trade represents a 63.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Ravi Inukonda sold 20,000 shares of the firm’s stock in a transaction on Monday, June 30th. The stock was sold at an average price of $247.00, for a total transaction of $4,940,000.00. Following the completion of the transaction, the chief financial officer directly owned 245,530 shares of the company’s stock, valued at approximately $60,645,910. This represents a 7.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 463,198 shares of company stock valued at $102,674,831 over the last quarter. Insiders own 5.83% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of DoorDash by 25.8% during the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock worth $7,200,642,000 after purchasing an additional 8,073,882 shares during the last quarter. Capital World Investors increased its holdings in DoorDash by 26.4% in the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock valued at $2,038,712,000 after buying an additional 2,538,160 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in DoorDash by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company’s stock valued at $897,031,000 after buying an additional 641,601 shares in the last quarter. Invesco Ltd. increased its holdings in DoorDash by 41.9% in the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company’s stock valued at $877,269,000 after buying an additional 1,416,194 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in DoorDash by 25.0% in the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock valued at $796,781,000 after buying an additional 949,414 shares in 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.