DoorDash, Inc. (NASDAQ:DASH) Receives Consensus Recommendation of “Moderate Buy” from Analysts

DoorDash, Inc. (NASDAQ:DASH) has received a consensus rating of “Moderate Buy” from the thirty-six research firms that are presently covering the company, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation, twenty-five have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $256.1111.

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lifted their price target on shares of DoorDash from $198.00 to $200.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Weiss Ratings raised shares of DoorDash from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Rothschild & Co Redburn set a $350.00 price objective on shares of DoorDash in a report on Tuesday, May 12th. TD Cowen began coverage on shares of DoorDash in a report on Monday, April 27th. They set a “buy” rating and a $225.00 price target for the company. Finally, Citigroup reaffirmed a “market outperform” rating on shares of DoorDash in a report on Monday.

Key Stories Impacting DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash and Urban Outfitters expanded their partnership with a graduation-themed campaign, reinforcing DoorDash’s growing role in consumer promotions and brand partnerships. Urban Outfitters and DoorDash Celebrate the Class of 2030
• Positive Sentiment: Precisely launched a new commercial property imagery offering powered by DoorDash Tasks, indicating DoorDash’s delivery network is finding additional enterprise use cases beyond food delivery. Precisely Launches Ground Level Images Enabled by DoorDash Tasks
• Neutral Sentiment: Director Andy Fang sold 5,000 shares worth about $900,000, but the transaction was executed under a pre-arranged Rule 10b5-1 plan, which typically reduces concern about the timing of insider selling.
• Negative Sentiment: Several news stories highlighted safety, delivery, and scam-related incidents involving DoorDash orders or drivers, which may add a small amount of reputational pressure even if they are isolated events. The DoorDash Order Was A Setup

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Andy Fang sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $180.00, for a total value of $900,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Tia Sherringham sold 2,743 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 63,558 shares of company stock worth $10,224,940 over the last 90 days. 5.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Eastern Bank raised 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 buying an additional 100 shares during the period. MV Capital Management Inc. purchased a new stake in DoorDash in the 4th quarter valued at $26,000. Swiss RE Ltd. acquired a new position in shares of DoorDash in the 4th quarter valued at $28,000. ST Germain D J Co. Inc. acquired a new position in shares of DoorDash in the 4th quarter valued at $29,000. Finally, Kemnay Advisory Services Inc. purchased a new position in DoorDash during the 4th quarter valued at about $32,000. 90.64% of the stock is owned by institutional investors.

DoorDash Stock Up 3.7%

DASH stock opened at $183.42 on Friday. 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 52-week low of $143.30 and a 52-week high of $285.50. The company has a 50-day moving average of $165.50 and a two-hundred day moving average of $181.85. The stock has a market capitalization of $79.92 billion, a price-to-earnings ratio of 87.34 and a beta of 1.83.

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. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The firm had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same period last year, the firm earned $0.44 earnings per share. The business’s revenue for the quarter was up 33.1% on a year-over-year basis. As a group, equities research analysts anticipate that DoorDash will post 2.41 EPS for the current year.

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.