DoorDash (NYSE:DASH) Rating Increased to Outperform at Evercore ISI

Evercore ISI upgraded shares of DoorDash (NYSE:DASH) from an in-line rating to an outperform rating in a research report report published on Tuesday, Price Targets.com reports. Evercore ISI currently has $256.00 price target on the stock.

A number of other analysts have also recently commented on DASH. Susquehanna boosted their price target on DoorDash from $220.00 to $260.00 and gave the stock a positive rating in a research report on Thursday, November 11th. KGI Securities raised DoorDash from a neutral rating to an outperform rating in a research report on Monday, November 22nd. Truist boosted their price objective on shares of DoorDash from $250.00 to $260.00 and gave the stock a buy rating in a report on Wednesday, November 10th. Gordon Haskett upgraded shares of DoorDash from a hold rating to a buy rating and decreased their price objective for the stock from $230.00 to $217.00 in a report on Wednesday, December 1st. Finally, JMP Securities boosted their price objective on shares of DoorDash from $210.00 to $230.00 and gave the stock an outperform rating in a report on Monday, October 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus target price of $228.68.

DoorDash stock opened at $131.53 on Tuesday. The stock’s 50 day simple moving average is $169.39 and its two-hundred day simple moving average is $186.09. DoorDash has a fifty-two week low of $110.13 and a fifty-two week high of $257.25.

DoorDash (NYSE:DASH) last posted its quarterly earnings data on Tuesday, November 9th. The company reported ($0.30) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by ($0.03). The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.18 billion. As a group, analysts forecast that DoorDash will post -1.18 earnings per share for the current year.

In other news, CFO Prabir Adarkar sold 5,000 shares of the company’s stock in a transaction dated Monday, October 18th. The shares were sold at an average price of $214.60, for a total transaction of $1,073,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Fast (Cayman) Ltd Svf sold 10,000,000 shares of the company’s stock in a transaction dated Wednesday, October 27th. The shares were sold at an average price of $202.81, for a total transaction of $2,028,100,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 10,677,286 shares of company stock valued at $2,152,024,064 in the last three months. Insiders own 15.54% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV purchased a new position in shares of DoorDash during the second quarter worth approximately $2,374,000. Tairen Capital Ltd bought a new position in shares of DoorDash during the second quarter valued at approximately $3,989,000. Guyasuta Investment Advisors Inc. boosted its stake in shares of DoorDash by 130.1% during the second quarter. Guyasuta Investment Advisors Inc. now owns 7,288 shares of the company’s stock valued at $1,300,000 after purchasing an additional 4,120 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of DoorDash by 1.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 922,258 shares of the company’s stock valued at $189,968,000 after purchasing an additional 12,258 shares in the last quarter. Finally, AO Asset Management LP bought a new position in shares of DoorDash during the second quarter valued at approximately $9,451,000. 75.11% of the stock is currently owned by institutional investors.

DoorDash Company Profile

DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.

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Analyst Recommendations for DoorDash (NYSE:DASH)

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