DoorDash, Inc. (NASDAQ:DASH) Given Consensus Rating of “Moderate Buy” by Brokerages

DoorDash, Inc. (NASDAQ:DASH) has been assigned an average rating of “Moderate Buy” from the thirty-five research firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation, twenty-four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $252.8889.

Several brokerages recently issued reports on DASH. Piper Sandler cut their price target on DoorDash from $220.00 to $205.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Guggenheim restated a “buy” rating and set a $255.00 price objective on shares of DoorDash in a research note on Tuesday, June 23rd. The Goldman Sachs Group set a $280.00 price objective on DoorDash in a report on Thursday, May 7th. Susquehanna cut their target price on DoorDash from $250.00 to $225.00 and set a “positive” rating for the company in a research report on Friday, May 8th. Finally, Weiss Ratings raised DoorDash from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 13th.

DoorDash Stock Performance

NASDAQ DASH opened at $188.04 on Wednesday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $81.93 billion, a P/E ratio of 89.54 and a beta of 1.78. DoorDash has a 12-month low of $143.30 and a 12-month high of $285.50. The firm has a 50-day moving average price of $171.05 and a two-hundred day moving average price of $176.75.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $4.15 billion. During the same quarter in the prior year, the business posted $0.44 EPS. The business’s revenue was up 33.1% compared to the same quarter last year. Analysts anticipate that DoorDash will post 2.39 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In other news, Director Shona L. Brown sold 582 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $177.06, for a total value of $103,048.92. Following the completion of the transaction, the director directly owned 31,156 shares in the company, valued at approximately $5,516,481.36. The trade was a 1.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ravi Inukonda sold 19,095 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $188.04, for a total transaction of $3,590,623.80. Following the sale, the chief financial officer directly owned 252,443 shares of the company’s stock, valued at approximately $47,469,381.72. This trade represents a 7.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 74,927 shares of company stock valued at $13,241,532 over the last three months. 5.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Eastern Bank lifted its stake in DoorDash by 714.3% during the fourth quarter. Eastern Bank now owns 114 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares during the last quarter. MV Capital Management Inc. bought a new position in shares of DoorDash in the 4th quarter valued at $26,000. Swiss RE Ltd. acquired a new position in shares of DoorDash during the 4th quarter worth $28,000. ST Germain D J Co. Inc. acquired a new position in shares of DoorDash during the 4th quarter worth $29,000. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of DoorDash during the 4th quarter worth $32,000. 90.64% of the stock is owned by institutional investors.

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.