DoorDash (NASDAQ:DASH) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of DoorDash (NASDAQ:DASH) from a hold rating to a buy rating in a report published on Friday morning.

Several other equities research analysts have also recently commented on the company. Evercore ISI reissued an “outperform” rating and set a $360.00 target price (up previously from $240.00) on shares of DoorDash in a report on Friday, August 8th. Truist Financial boosted their price objective on DoorDash from $272.00 to $326.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Royal Bank Of Canada upped their price objective on DoorDash from $230.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. BMO Capital Markets lifted their target price on DoorDash from $238.00 to $288.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Finally, Bank of America boosted their price target on shares of DoorDash from $230.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday, June 12th. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $275.27.

DoorDash Stock Performance

DASH stock opened at $271.22 on Friday. The company has a 50-day simple moving average of $255.52 and a 200 day simple moving average of $223.92. The company has a market capitalization of $115.87 billion, a P/E ratio of 150.68 and a beta of 1.71. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. DoorDash has a fifty-two week low of $141.26 and a fifty-two week high of $278.15.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results 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 for 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 revenue was up 24.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.38) EPS. Sell-side analysts predict that DoorDash will post 2.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other DoorDash news, CEO Tony Xu sold 291,403 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $238.19, for a total value of $69,409,280.57. Following the transaction, the chief executive officer owned 229,047 shares in the company, valued at approximately $54,556,704.93. This represents a 55.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Prabir Adarkar sold 41,881 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the completion of the sale, the chief operating officer owned 914,547 shares of the company’s stock, valued at approximately $224,813,943.54. The trade was a 4.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,001,417 shares of company stock worth $249,569,754 over the last quarter. Company insiders own 5.83% of the company’s stock.

Institutional Trading of DoorDash

Institutional investors have recently bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of DoorDash by 24.0% during the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock worth $1,566,000 after purchasing an additional 1,807 shares in the last quarter. Merit Financial Group LLC increased its holdings in DoorDash by 324.8% in the first quarter. Merit Financial Group LLC now owns 12,749 shares of the company’s stock worth $2,330,000 after buying an additional 9,748 shares during the last quarter. RFG Advisory LLC raised its position in DoorDash by 45.4% during the first quarter. RFG Advisory LLC now owns 6,913 shares of the company’s stock valued at $1,263,000 after acquiring an additional 2,159 shares in the last quarter. Intellectus Partners LLC acquired a new stake in DoorDash in the first quarter valued at approximately $302,000. Finally, Gateway Investment Advisers LLC increased its stake in shares of DoorDash by 279.1% during the 1st quarter. Gateway Investment Advisers LLC now owns 25,974 shares of the company’s stock worth $4,747,000 after purchasing an additional 19,122 shares during the last quarter. Institutional investors and hedge funds 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.