DoorDash’s (DASH) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

DoorDash (NASDAQ:DASH)‘s stock had its “overweight” rating reissued by research analysts at Cantor Fitzgerald in a research note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have a $260.00 price target on the stock, up from their prior price target of $210.00. Cantor Fitzgerald’s price objective would indicate a potential upside of 10.42% from the stock’s previous close. Cantor Fitzgerald also issued estimates for DoorDash’s FY2025 earnings at $1.71 EPS and FY2026 earnings at $2.78 EPS.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley dropped their target price on shares of DoorDash from $245.00 to $210.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Citigroup restated an “outperform” rating on shares of DoorDash in a research note on Thursday, June 12th. DA Davidson lifted their price objective on DoorDash from $150.00 to $190.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Wedbush reissued an “outperform” rating on shares of DoorDash in a report on Wednesday, May 7th. Finally, Wells Fargo & Company cut their price target on DoorDash from $201.00 to $198.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 7th. Eleven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $214.76.

DoorDash Price Performance

NASDAQ:DASH traded up $2.78 during mid-day trading on Wednesday, reaching $235.46. 320,876 shares of the company’s stock traded hands, compared to its average volume of 4,211,301. The company has a 50 day moving average price of $203.65 and a 200-day moving average price of $190.41. The firm has a market capitalization of $99.77 billion, a price-to-earnings ratio of 305.93 and a beta of 1.67. DoorDash has a 12-month low of $99.32 and a 12-month high of $238.47.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The business had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the prior year, the company earned ($0.06) earnings per share. The business’s revenue was up 20.7% compared to the same quarter last year. As a group, analysts forecast that DoorDash will post 2.22 EPS for the current year.

Insider Activity at DoorDash

In other news, Director Shona L. Brown sold 1,248 shares of the firm’s stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $231.70, for a total value of $289,161.60. Following the completion of the sale, the director now owns 45,213 shares of the company’s stock, valued at $10,475,852.10. This trade represents a 2.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Prabir Adarkar sold 20,000 shares of the firm’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $185.58, for a total transaction of $3,711,600.00. Following the transaction, the chief operating officer now owns 887,348 shares in the company, valued at $164,674,041.84. This represents a 2.20% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 332,127 shares of company stock valued at $67,346,994. Insiders own 5.83% of the company’s stock.

Institutional Trading of DoorDash

Institutional investors and hedge funds have recently modified their holdings of the company. Saudi Central Bank acquired a new position in DoorDash during the 1st quarter worth $25,000. WPG Advisers LLC bought a new position in DoorDash during the first quarter worth about $26,000. Pacific Center for Financial Services acquired a new position in shares of DoorDash in the 1st quarter valued at approximately $27,000. Harbour Investments Inc. boosted its holdings in shares of DoorDash by 55.6% in the first quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock valued at $36,000 after buying an additional 70 shares during the period. Finally, IFP Advisors Inc increased its holdings in DoorDash by 31.8% during the 4th quarter. IFP Advisors Inc now owns 224 shares of the company’s stock worth $37,000 after purchasing an additional 54 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors.

About DoorDash

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.