DoorDash (NASDAQ:DASH) Now Covered by Analysts at Wedbush

Wedbush began coverage on shares of DoorDash (NASDAQ:DASH) in a report published on Thursday morning, MarketBeat Ratings reports. The firm issued a neutral rating and a $205.00 target price on the stock.

Several other equities analysts also recently commented on DASH. Guggenheim reiterated a “buy” rating and issued a $255.00 price objective on shares of DoorDash in a research note on Tuesday, June 23rd. DA Davidson cut their price target on shares of DoorDash from $224.00 to $200.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Argus set a $190.00 price target on DoorDash in a research report on Thursday, June 11th. Stifel Nicolaus lowered their price objective on shares of DoorDash from $215.00 to $185.00 and set a “hold” rating on the stock in a research report on Monday, April 13th. Finally, Wells Fargo & Company cut their target price on shares of DoorDash from $200.00 to $199.00 and set an “equal weight” rating for the company in a research report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $252.89.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $186.36 on Thursday. DoorDash has a twelve month low of $143.30 and a twelve month high of $285.50. The firm has a market capitalization of $81.20 billion, a price-to-earnings ratio of 88.74 and a beta of 1.78. The stock’s 50 day moving average is $169.36 and its 200-day moving average is $177.63. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The company had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the previous year, the firm earned $0.44 earnings per share. DoorDash’s quarterly revenue was up 33.1% on a year-over-year basis. Sell-side analysts forecast that DoorDash will post 2.4 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In other DoorDash news, General Counsel Tia Sherringham sold 2,743 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $160.79, for a total transaction of $441,046.97. Following the completion of the transaction, the general counsel owned 128,216 shares of the company’s stock, valued at approximately $20,615,850.64. This trade represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 21,739 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total transaction of $3,374,979.75. Following the sale, the chief operating officer owned 959,076 shares in the company, valued at approximately $148,896,549. This trade represents a 2.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 84,927 shares of company stock valued at $15,124,932. Company insiders own 5.83% of the company’s stock.

Institutional Investors Weigh In On DoorDash

A number of hedge funds and other institutional investors have recently bought and sold shares of DASH. Keel Point LLC boosted its position in shares of DoorDash by 4.3% in the 3rd quarter. Keel Point LLC now owns 1,393 shares of the company’s stock worth $379,000 after purchasing an additional 58 shares in the last quarter. CYBER HORNET ETFs LLC increased its position in DoorDash by 6.5% during the 4th quarter. CYBER HORNET ETFs LLC now owns 979 shares of the company’s stock valued at $222,000 after buying an additional 60 shares in the last quarter. Vise Technologies Inc. raised its stake in DoorDash by 1.8% during the fourth quarter. Vise Technologies Inc. now owns 3,517 shares of the company’s stock valued at $796,000 after buying an additional 63 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in DoorDash by 7.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 982 shares of the company’s stock worth $222,000 after acquiring an additional 64 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its stake in shares of DoorDash by 124.1% in the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock worth $33,000 after acquiring an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash News Summary

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash unveiled new developer-focused tools, including a macOS command-line product and an AI-agent ordering feature, which could highlight innovation and broaden how users interact with the platform. Yes, you can now order DoorDash from the command line
• Positive Sentiment: A new Wedbush coverage initiation with a $205 price target suggests Wall Street sees upside from current levels, which can support sentiment around the stock. DoorDash is now covered by Wedbush
• Positive Sentiment: DoorDash also expanded its merchant reach through a Shopify integration, which could help drive more delivery volume from brick-and-mortar retailers. DoorDash-Shopify Integration Creates On-Demand Delivery for Brick-and-Mortar Retailers
• Neutral Sentiment: Reports about DoorDash’s move into robots and autonomous delivery highlight long-term innovation, but the near-term financial impact is still unclear. Delivery company DoorDash wants to roll out robots on New Mexico roads
• Negative Sentiment: Fresh lawsuit headlines alleging DoorDash allowed an unlicensed driver to make deliveries add legal and reputational risk, which can weigh on shares. Former shipyard worker sues DoorDash for $25M, saying it allowed unlicensed driver to make deliveries
• Negative Sentiment: Broader competition may also be a concern after Uber’s acquisition of Delivery Hero, which could intensify pressure in global food delivery. Move over DoorDash, Uber’s latest deal would make it the world’s largest food delivery player outside China

DoorDash Company Profile

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.