DoorDash, Inc. (NASDAQ:DASH) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of DoorDash, Inc. (NASDAQ:DASH) have been assigned a consensus rating of “Moderate Buy” from the thirty-six research firms that are covering the stock, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation, twenty-five have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $259.5833.

A number of research analysts recently issued reports on DASH shares. Needham & Company LLC reissued a “buy” rating and issued a $265.00 price objective on shares of DoorDash in a research note on Thursday, May 7th. Zacks Research raised shares of DoorDash from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Citigroup decreased their target price on shares of DoorDash from $280.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Wells Fargo & Company boosted their target price on shares of DoorDash from $198.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Finally, Weiss Ratings raised shares of DoorDash from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th.

Insider Activity

In other DoorDash news, Director Shona L. Brown sold 1,250 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $176.61, for a total transaction of $220,762.50. Following the sale, the director owned 31,002 shares of the company’s stock, valued at approximately $5,475,263.22. The trade was a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Tia Sherringham sold 2,743 shares of the business’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 sale, the general counsel directly owned 128,216 shares in the company, valued at approximately $20,615,850.64. The trade was a 2.09% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 69,808 shares of company stock valued at $11,135,403. 5.83% of the stock is currently owned by insiders.

Institutional Trading of DoorDash

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE grew its stake in shares of DoorDash by 18.4% in the first quarter. Bank of America Corp DE now owns 3,449,266 shares of the company’s stock worth $517,907,000 after purchasing an additional 536,080 shares during the last quarter. Anson Funds Management LP bought a new stake in shares of DoorDash in the first quarter worth $1,314,000. Janus Henderson Group PLC grew its stake in shares of DoorDash by 40.2% in the first quarter. Janus Henderson Group PLC now owns 7,762,553 shares of the company’s stock worth $1,159,377,000 after purchasing an additional 2,225,954 shares during the last quarter. Arkadios Wealth Advisors grew its stake in shares of DoorDash by 4.8% in the first quarter. Arkadios Wealth Advisors now owns 5,998 shares of the company’s stock worth $901,000 after purchasing an additional 272 shares during the last quarter. Finally, Spyglass Capital Management LLC grew its stake in shares of DoorDash by 10.2% in the first quarter. Spyglass Capital Management LLC now owns 298,176 shares of the company’s stock worth $44,771,000 after purchasing an additional 27,606 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

DoorDash Stock Performance

Shares of NASDAQ:DASH opened at $164.78 on Tuesday. The company’s 50 day simple moving average is $162.32 and its 200 day simple moving average is $186.94. The stock has a market capitalization of $71.80 billion, a price-to-earnings ratio of 78.47 and a beta of 1.83. 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 has a 1 year low of $143.30 and a 1 year high of $285.50.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The business had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The firm’s quarterly revenue was up 33.1% compared to the same quarter last year. During the same period last year, the firm posted $0.44 earnings per share. As a group, research analysts predict that DoorDash will post 2.45 EPS for the current fiscal year.

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.