DoorDash (NASDAQ:DASH) Upgraded at BNP Paribas

BNP Paribas upgraded shares of DoorDash (NASDAQ:DASH) to a strong-buy rating in a report published on Wednesday morning,Zacks.com reports.

A number of other equities analysts have also recently commented on the stock. Morgan Stanley lifted their price objective on shares of DoorDash from $300.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. BNP Paribas Exane started coverage on shares of DoorDash in a research report on Wednesday. They set an “outperform” rating and a $280.00 price objective for the company. BMO Capital Markets restated an “outperform” rating on shares of DoorDash in a report on Friday, December 12th. BTIG Research reiterated a “buy” rating and set a $315.00 target price on shares of DoorDash in a research note on Thursday, November 6th. Finally, Stifel Nicolaus dropped their price target on DoorDash from $255.00 to $253.00 and set a “hold” rating for the company in a report on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $278.05.

DoorDash Stock Performance

Shares of DASH opened at $205.32 on Wednesday. The company has a market cap of $88.49 billion, a PE ratio of 104.22 and a beta of 1.70. The firm has a 50-day moving average of $216.50 and a 200-day moving average of $240.35. DoorDash has a one year low of $155.40 and a one year high of $285.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.04 and a quick ratio of 2.04.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.13). DoorDash had a net margin of 6.83% and a return on equity of 9.97%. The firm had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same quarter last year, the business posted $0.38 earnings per share. The company’s revenue for the quarter was up 27.3% on a year-over-year basis. As a group, equities analysts forecast that DoorDash will post 2.22 earnings per share for the current year.

Insider Activity

In related news, Director Andy Fang sold 30,000 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $222.52, for a total value of $6,675,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stanley Tang sold 45,410 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $222.53, for a total transaction of $10,105,087.30. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 619,310 shares of company stock worth $130,529,968. 5.83% of the stock is owned by insiders.

Institutional Investors Weigh In On DoorDash

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of DoorDash by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 42,712,908 shares of the company’s stock worth $11,617,484,000 after buying an additional 1,522,823 shares in the last quarter. State Street Corp grew its stake in shares of DoorDash by 6.3% during the third quarter. State Street Corp now owns 15,296,624 shares of the company’s stock worth $4,160,529,000 after buying an additional 909,125 shares during the last quarter. Capital World Investors increased its holdings in shares of DoorDash by 0.9% during the third quarter. Capital World Investors now owns 10,865,927 shares of the company’s stock worth $2,955,424,000 after buying an additional 95,278 shares in the last quarter. Geode Capital Management LLC lifted its stake 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 valued at $1,950,711,000 after acquiring an additional 223,188 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of DoorDash by 18.2% in the 3rd quarter. Invesco Ltd. now owns 6,355,628 shares of the company’s stock valued at $1,728,667,000 after acquiring an additional 980,148 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

Key Stories Impacting DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: BNP Paribas upgraded DoorDash to “strong-buy,” signaling institutional optimism about the shares and potentially supporting demand. Read More.
• Positive Sentiment: BNP Paribas Exane initiated coverage of DASH, which can increase analyst attention and liquidity for the stock. Read More.
• Neutral Sentiment: DoorDash published data on big-game food trends, highlighting platform engagement and marketing/consumer demand insights that support revenue visibility around events. Read More.
• Neutral Sentiment: A viral local news story showed police delivering a pizza after a DoorDash driver was arrested; reputationally noteworthy but unlikely to move fundamentals. Read More.
• Negative Sentiment: DoorDash’s Chief Revenue Officer Lee Brown departed after about five months — a sign of executive turnover in a revenue-facing role that can spook investors concerned about sales execution. Read More.
• Negative Sentiment: Insiders sold shares: CFO Ravi Inukonda sold 1,017 shares (SEC Form 4 filing) and a Director sold about $277,900 of stock — modest but visible insider selling that can be read negatively by the market. Read More. Read More.
• Negative Sentiment: New reports and a city lawsuit allege DoorDash and competitors shortchanged delivery workers of roughly $550M in tips — a regulatory/legal risk that could lead to fines, settlements or changes to the business model. Read More.

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.