DoorDash (NASDAQ:DASH) Receives “Buy” Rating from BTIG Research

BTIG Research reaffirmed their buy rating on shares of DoorDash (NASDAQ:DASH) in a research note published on Monday, Marketbeat reports. BTIG Research currently has a $315.00 target price on the stock.

Other equities research analysts have also recently issued reports about the company. Wedbush reiterated a “neutral” rating on shares of DoorDash in a research note on Friday, August 8th. JMP Securities raised their target price on DoorDash from $250.00 to $335.00 and gave the company a “market outperform” rating in a research note on Thursday, August 7th. Wall Street Zen upgraded DoorDash from a “hold” rating to a “buy” rating in a research note on Saturday, October 11th. KeyCorp restated an “overweight” rating and set a $325.00 price objective (up from $295.00) on shares of DoorDash in a research note on Thursday, August 7th. Finally, Stifel Nicolaus lifted their price objective on shares of DoorDash from $214.00 to $239.00 and gave the company a “hold” rating in a research note on Thursday, August 7th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $285.26.

DoorDash Stock Performance

DASH stock opened at $265.37 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. The stock has a market capitalization of $113.37 billion, a price-to-earnings ratio of 147.43 and a beta of 1.71. DoorDash has a 1 year low of $150.26 and a 1 year high of $285.50. The stock’s fifty day moving average is $259.49 and its two-hundred day moving average is $230.96.

DoorDash (NASDAQ:DASH) last posted its earnings results 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. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The firm’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period last year, the business posted ($0.38) earnings per share. On average, research analysts predict that DoorDash will post 2.22 EPS for the current year.

Insider Transactions at DoorDash

In related news, CEO Tony Xu sold 291,403 shares of DoorDash stock in a transaction dated Wednesday, August 20th. The stock was 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 of the company’s stock, valued at approximately $54,556,704.93. This trade represents a 55.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $247.11, for a total value of $11,221,265.10. Following the completion of the transaction, the director directly owned 26,070 shares in the company, valued at $6,442,157.70. This represents a 63.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 993,105 shares of company stock valued at $248,566,566 in the last three months. 5.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DoorDash

A number of institutional investors have recently bought and sold shares of the stock. Saudi Central Bank purchased a new position in DoorDash during the 1st quarter valued at about $25,000. WPG Advisers LLC purchased a new position in DoorDash during the 1st quarter valued at about $26,000. Pacific Center for Financial Services purchased a new position in DoorDash during the 1st quarter valued at about $27,000. GFG Capital LLC purchased a new position in DoorDash during the 2nd quarter valued at about $30,000. Finally, Harbour Investments Inc. grew its stake in DoorDash by 55.6% during the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock valued at $36,000 after acquiring an additional 70 shares in the last quarter. 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.