DoorDash (NASDAQ:DASH) Stock Rating Reaffirmed by Wedbush

Wedbush restated their neutral rating on shares of DoorDash (NASDAQ:DASH) in a report published on Thursday, Benzinga reports. The firm currently has a $115.00 price target on the stock. Wedbush also issued estimates for DoorDash’s Q3 2024 earnings at $0.04 EPS.

Several other research analysts have also recently commented on DASH. Roth Mkm raised their target price on DoorDash from $92.00 to $109.00 and gave the stock a neutral rating in a research report on Friday, January 19th. Susquehanna raised their price objective on shares of DoorDash from $110.00 to $135.00 and gave the stock a positive rating in a report on Tuesday, February 20th. Truist Financial upped their target price on shares of DoorDash from $140.00 to $155.00 and gave the company a buy rating in a research note on Wednesday, March 27th. The Goldman Sachs Group increased their price target on shares of DoorDash from $109.00 to $122.00 and gave the stock a neutral rating in a research report on Friday, February 16th. Finally, Jefferies Financial Group upgraded shares of DoorDash from a hold rating to a buy rating and boosted their target price for the company from $90.00 to $130.00 in a research note on Monday, January 8th. Nine equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $129.96.

DoorDash Price Performance

DASH traded down $0.50 on Thursday, hitting $113.81. The company had a trading volume of 6,210,790 shares, compared to its average volume of 4,293,060. DoorDash has a 1-year low of $60.36 and a 1-year high of $143.34. The company’s fifty day moving average price is $131.86 and its 200 day moving average price is $110.13. The stock has a market cap of $45.98 billion, a price-to-earnings ratio of -105.38, a price-to-earnings-growth ratio of 13.07 and a beta of 1.78.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.45 billion. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The firm’s revenue was up 23.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.41) earnings per share. On average, sell-side analysts forecast that DoorDash will post 0.17 EPS for the current year.

Insider Buying and Selling at DoorDash

In other news, Director Shona L. Brown sold 700 shares of DoorDash stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $141.60, for a total transaction of $99,120.00. Following the completion of the sale, the director now owns 70,111 shares in the company, valued at approximately $9,927,717.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Shona L. Brown sold 700 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $141.60, for a total value of $99,120.00. Following the completion of the sale, the director now owns 70,111 shares in the company, valued at $9,927,717.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $130.95, for a total value of $916,650.00. Following the completion of the transaction, the chief financial officer now directly owns 384,425 shares in the company, valued at approximately $50,340,453.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 487,782 shares of company stock worth $64,046,807. Company insiders own 9.59% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in shares of DoorDash during the fourth quarter worth $264,806,000. Vanguard Group Inc. lifted its holdings in DoorDash by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock worth $2,897,823,000 after acquiring an additional 2,259,976 shares in the last quarter. Franklin Resources Inc. lifted its holdings in DoorDash by 294.5% during the fourth quarter. Franklin Resources Inc. now owns 1,607,776 shares of the company’s stock worth $158,993,000 after acquiring an additional 1,200,181 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in DoorDash by 1,725.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock valued at $110,082,000 after acquiring an additional 1,052,198 shares during the period. Finally, Los Angeles Capital Management LLC increased its holdings in shares of DoorDash by 40,319.6% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,039,592 shares of the company’s stock worth $102,805,000 after acquiring an additional 1,037,020 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Company Profile

DoorDash, Inc, together with its subsidiaries, operates a commerce platform that connects merchants, consumers, and independent contractors in the United States and internationally. The company operates DoorDash Marketplace and Wolt Marketplace, which provide various services, such as customer acquisition, demand generation, order fulfillment, merchandising, payment processing, and customer support.