Evercore ISI Reiterates Outperform Rating for DoorDash (NASDAQ:DASH)

DoorDash (NASDAQ:DASH)‘s stock had its “outperform” rating reissued by stock analysts at Evercore ISI in a research report issued on Friday, Marketbeat 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 points to a potential upside of 38.89% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Jefferies Financial Group restated a “hold” rating and set a $250.00 target price (up previously from $235.00) on shares of DoorDash in a report on Tuesday, July 15th. Loop Capital restated a “buy” rating on shares of DoorDash in a report on Tuesday, July 15th. BMO Capital Markets upped their target price on DoorDash from $238.00 to $288.00 and gave the company an “outperform” rating in a report on Thursday. Wells Fargo & Company upped their price target on DoorDash from $239.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, JMP Securities upped their price target on DoorDash from $250.00 to $335.00 and gave the stock a “market outperform” rating in a research note on Thursday. Twelve 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $259.18.

DoorDash Price Performance

Shares of DoorDash stock opened at $259.19 on Friday. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. The company has a market cap of $109.83 billion, a PE ratio of 144.00 and a beta of 1.70. The business has a 50 day moving average of $236.11 and a 200 day moving average of $206.81. DoorDash has a 52 week low of $121.44 and a 52 week high of $278.15.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating 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 return on equity of 9.56% and a net margin of 6.57%. The firm’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.38) earnings per share. As a group, equities research analysts forecast that DoorDash will post 2.22 earnings per share for the current year.

Insider Activity at DoorDash

In other DoorDash news, Director Shona L. Brown sold 825 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $250.00, for a total value of $206,250.00. Following the transaction, the director owned 43,477 shares of the company’s stock, valued at approximately $10,869,250. This represents a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andy Fang sold 30,000 shares of the firm’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $247.04, for a total value of $7,411,200.00. Following the completion of the transaction, the director directly owned 22,545 shares in the company, valued at $5,569,516.80. The trade was a 57.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 583,537 shares of company stock valued at $133,720,004 over the last three months. 5.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. GFG Capital LLC purchased a new position in DoorDash in the second quarter worth about $30,000. Saudi Central Bank purchased a new position in DoorDash in the first quarter worth about $25,000. WPG Advisers LLC purchased a new position in DoorDash in the first quarter worth about $26,000. Pacific Center for Financial Services purchased a new position in DoorDash in the first quarter worth about $27,000. Finally, Harbour Investments Inc. raised its stake in shares of DoorDash by 55.6% in the first 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 owned by hedge funds and other 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.