DoorDash, Inc. (NASDAQ:DASH) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of DoorDash, Inc. (NASDAQ:DASH) have been given a consensus rating of “Moderate Buy” by the thirty-six ratings firms that are currently covering the company, Marketbeat Ratings reports. Thirteen investment analysts have rated the stock with a hold recommendation, twenty-two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $263.8824.

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus increased their price objective on shares of DoorDash from $214.00 to $239.00 and gave the company a “hold” rating in a report on Thursday, August 7th. Wells Fargo & Company increased their price objective on shares of DoorDash from $239.00 to $280.00 and gave the company an “equal weight” rating in a report on Thursday, August 7th. KeyCorp reaffirmed an “overweight” rating and set a $325.00 price objective (up from $295.00) on shares of DoorDash in a report on Thursday, August 7th. DA Davidson upped their price objective on DoorDash from $150.00 to $190.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Finally, Zacks Research raised DoorDash to a “hold” rating in a report on Tuesday, August 12th.

DoorDash Trading Down 0.8%

Shares of DASH opened at $245.25 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. DoorDash has a 1 year low of $122.32 and a 1 year high of $278.15. The company has a 50 day simple moving average of $245.52 and a two-hundred day simple moving average of $212.79. The firm has a market cap of $104.77 billion, a P/E ratio of 136.25 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.23. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the firm posted ($0.38) EPS. The company’s revenue was up 24.9% on a year-over-year basis. On average, equities analysts expect that DoorDash will post 2.22 earnings per share for the current fiscal year.

Insider Buying and Selling at DoorDash

In other news, Director Stanley Tang sold 45,410 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $247.11, for a total transaction of $11,221,265.10. Following the sale, the director directly owned 26,070 shares of the company’s stock, valued at $6,442,157.70. This represents a 63.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shona L. Brown sold 1,650 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $272.00, for a total value of $448,800.00. Following the sale, the director directly owned 41,827 shares in the company, valued at $11,376,944. This trade represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 932,764 shares of company stock worth $224,714,524. Company insiders own 5.83% of the company’s stock.

Hedge Funds Weigh In On DoorDash

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of DoorDash by 4.6% in the 2nd quarter. Vanguard Group Inc. now owns 41,190,085 shares of the company’s stock worth $10,153,768,000 after purchasing an additional 1,792,799 shares during the period. State Street Corp boosted its holdings in shares of DoorDash by 3.1% in the 2nd quarter. State Street Corp now owns 14,387,499 shares of the company’s stock worth $3,546,662,000 after purchasing an additional 427,722 shares during the period. Geode Capital Management LLC boosted its holdings in shares of DoorDash by 2.9% in the 2nd quarter. Geode Capital Management LLC now owns 7,951,230 shares of the company’s stock worth $1,950,711,000 after purchasing an additional 223,188 shares during the period. Invesco Ltd. boosted its holdings in shares of DoorDash by 12.0% in the 2nd quarter. Invesco Ltd. now owns 5,375,480 shares of the company’s stock worth $1,325,110,000 after purchasing an additional 575,629 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of DoorDash by 15.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company’s stock worth $897,031,000 after purchasing an additional 641,601 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

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.