Guggenheim Upgrades DoorDash (NASDAQ:DASH) to Strong-Buy

DoorDash (NASDAQ:DASH) was upgraded by investment analysts at Guggenheim to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

A number of other brokerages have also weighed in on DASH. JMP Securities raised their price target on shares of DoorDash from $250.00 to $335.00 and gave the company a “market outperform” rating in a report on Thursday, August 7th. Citigroup reissued an “outperform” rating on shares of DoorDash in a research note on Thursday, August 7th. Royal Bank Of Canada boosted their target price on DoorDash from $230.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Morgan Stanley raised their price target on DoorDash from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Finally, BTIG Research boosted their price objective on DoorDash from $225.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, July 1st. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and an average target price of $282.47.

DoorDash Stock Performance

DoorDash stock opened at $266.67 on Wednesday. The stock has a 50-day simple moving average of $259.23 and a 200 day simple moving average of $229.01. The stock has a market capitalization of $113.92 billion, a price-to-earnings ratio of 148.15 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 12-month low of $149.80 and a 12-month high of $285.50.

DoorDash (NASDAQ:DASH) last issued 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. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the firm earned ($0.38) EPS. The company’s revenue was up 24.9% on a year-over-year basis. On average, research analysts anticipate that DoorDash will post 2.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DoorDash news, CEO Tony Xu sold 291,403 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total transaction 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 trade represents a 55.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Prabir Adarkar sold 41,881 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $245.82, for a total value of $10,295,187.42. Following the completion of the sale, the chief operating officer directly owned 914,547 shares of the company’s stock, valued at approximately $224,813,943.54. This trade represents a 4.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 993,105 shares of company stock worth $248,566,566. Corporate insiders own 5.83% of the company’s stock.

Hedge Funds Weigh In On DoorDash

A number of hedge funds and other institutional investors have recently made changes to their positions in DASH. GFG Capital LLC bought a new stake in shares of DoorDash in the 2nd quarter valued at $30,000. Saudi Central Bank acquired a new position in DoorDash in the first quarter valued at about $25,000. WPG Advisers LLC bought a new stake in shares of DoorDash in the first quarter worth about $26,000. Sound Income Strategies LLC raised its position in shares of DoorDash by 2,760.0% during the third quarter. Sound Income Strategies LLC now owns 143 shares of the company’s stock worth $39,000 after purchasing an additional 138 shares during the period. Finally, Pacific Center for Financial Services bought a new position in shares of DoorDash during the 1st quarter valued at about $27,000. 90.64% of the stock is 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.