DoorDash’s (DASH) “Outperform” Rating Reaffirmed at Evercore ISI

DoorDash (NASDAQ:DASH)‘s stock had its “outperform” rating reaffirmed by analysts at Evercore ISI in a research note issued on Friday, Marketbeat.com reports. They currently have a $360.00 price target on the stock, up from their prior price target of $240.00. Evercore ISI’s price target would indicate a potential upside of 40.57% from the stock’s previous close.

DASH has been the topic of a number of other reports. Royal Bank Of Canada increased their price objective on shares of DoorDash from $230.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday. Morgan Stanley raised their price target on shares of DoorDash from $275.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday. Piper Sandler raised their target price on shares of DoorDash from $210.00 to $290.00 and gave the stock a “neutral” rating in a research report on Thursday. Oppenheimer raised their target price on shares of DoorDash from $280.00 to $310.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Wells Fargo & Company raised their target price on shares of DoorDash from $239.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Thursday. Twelve investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $263.88.

DoorDash Stock Performance

DoorDash stock traded down $3.09 during trading hours on Friday, reaching $256.10. 2,158,121 shares of the stock were exchanged, compared to its average volume of 4,776,230. The stock has a market cap of $108.52 billion, a P/E ratio of 142.28 and a beta of 1.70. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. DoorDash has a 52-week low of $121.44 and a 52-week high of $278.15. The firm’s 50 day moving average is $236.11 and its 200 day moving average is $206.81.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.23. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.16 billion. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. DoorDash’s quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.38) EPS. Analysts predict that DoorDash will post 2.22 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Stanley Tang sold 45,410 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $247.11, for a total value of $11,221,265.10. Following the completion of the sale, the director owned 26,070 shares of the company’s stock, valued at $6,442,157.70. This represents a 63.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Tony Xu sold 4,042 shares of the company’s stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $250.28, for a total transaction of $1,011,631.76. Following the completion of the sale, the chief executive officer directly owned 520,450 shares of the company’s stock, valued at $130,258,226. The trade was a 0.77% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 583,537 shares of company stock valued at $133,720,004. Corporate insiders own 5.83% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Hedge funds and other institutional investors have recently bought and sold shares of the business. GFG Capital LLC bought a new stake in DoorDash in the second quarter worth about $30,000. Saudi Central Bank acquired a new stake in DoorDash during the 1st quarter worth about $25,000. WPG Advisers LLC acquired a new stake in DoorDash during the 1st quarter worth about $26,000. Pacific Center for Financial Services acquired a new stake in DoorDash during the 1st quarter worth about $27,000. Finally, Harbour Investments Inc. raised its holdings in DoorDash by 55.6% during the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock worth $36,000 after buying an additional 70 shares during the period. 90.64% of the stock is currently owned by institutional investors.

DoorDash Company Profile

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.