Wedbush Initiates Coverage on DoorDash (NASDAQ:DASH)

Stock analysts at Wedbush initiated coverage on shares of DoorDash (NASDAQ:DASH) in a report issued on Thursday, Marketbeat.com reports. The firm set a “neutral” rating and a $205.00 price target on the stock. Wedbush’s price target would indicate a potential upside of 11.33% from the company’s previous close.

DASH has been the topic of a number of other research reports. Rothschild & Co Redburn set a $350.00 price target on shares of DoorDash in a research note on Tuesday, May 12th. Stifel Nicolaus dropped their price objective on shares of DoorDash from $215.00 to $185.00 and set a “hold” rating for the company in a research note on Monday, April 13th. Moffett Nathanson set a $276.00 target price on shares of DoorDash in a report on Wednesday, April 15th. DA Davidson decreased their target price on shares of DoorDash from $224.00 to $200.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Finally, BTIG Research lowered their price target on shares of DoorDash from $280.00 to $225.00 and set a “buy” rating for the company in a report on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $252.89.

DoorDash Stock Down 1.2%

Shares of DASH opened at $184.14 on Thursday. The stock has a market capitalization of $80.23 billion, a price-to-earnings ratio of 87.69 and a beta of 1.78. DoorDash has a 1 year low of $143.30 and a 1 year high of $285.50. The business’s 50 day simple moving average is $169.76 and its 200-day simple moving average is $177.68. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The firm had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the prior year, the company earned $0.44 EPS. The company’s quarterly revenue was up 33.1% compared to the same quarter last year. As a group, equities analysts expect that DoorDash will post 2.4 earnings per share for the current fiscal year.

Insider Activity at DoorDash

In other news, COO Prabir Adarkar sold 21,739 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total value of $3,374,979.75. Following the sale, the chief operating officer owned 959,076 shares of the company’s stock, valued at approximately $148,896,549. This represents a 2.22% decrease in their ownership of the stock. The sale was disclosed in a legal 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, Director Andy Fang sold 5,000 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $180.00, for a total transaction of $900,000.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 84,927 shares of company stock valued at $15,124,932 over the last three months. Corporate insiders own 5.83% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Several hedge funds have recently added to or reduced their stakes in the company. MV Capital Management Inc. bought a new stake in DoorDash in the fourth quarter worth about $26,000. Eastern Bank lifted its stake in shares of DoorDash by 714.3% during the 4th quarter. Eastern Bank now owns 114 shares of the company’s stock worth $26,000 after acquiring an additional 100 shares during the last quarter. Sunbelt Securities Inc. lifted its stake in shares of DoorDash by 124.1% during the 3rd 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. Swiss RE Ltd. purchased a new position in DoorDash during the 4th quarter valued at $28,000. Finally, ST Germain D J Co. Inc. purchased a new position in DoorDash during the 4th quarter valued at $29,000. 90.64% of the stock is currently owned by institutional investors.

DoorDash News Roundup

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Wedbush initiated coverage on DoorDash with a neutral rating and a $205 price target, implying upside from current levels and signaling Wall Street still sees value in the stock. Benzinga report on Wedbush coverage
• Positive Sentiment: DoorDash unveiled new developer-focused tools, including the dd-cli AI command-line tool for macOS, and also said it will let AI agents place real food orders, which could broaden usage and highlight the company’s push into AI-enabled commerce. TechCrunch article Yahoo Finance article
• Neutral Sentiment: DoorDash is also being mentioned in stories about robots on New Mexico roads and a DoorDash “index” on burger prices in California; these are more business-interest and brand-awareness items than direct stock drivers. Yahoo News article on robots Yahoo Finance article on DoorDash index
• Negative Sentiment: A new lawsuit seeking $25 million claims DoorDash allowed an unlicensed driver to make deliveries, adding to liability and regulatory risk around its delivery network. Daily Press lawsuit article
• Negative Sentiment: Uber’s planned Delivery Hero acquisition is fueling competition concerns, with some coverage saying the deal could make Uber the world’s largest food-delivery player outside China and strengthen a major rival to DoorDash. Business Insider article Zacks article

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.