DoorDash (NASDAQ:DASH) Earns Neutral Rating from Analysts at Wedbush

Wedbush initiated coverage on shares of DoorDash (NASDAQ:DASH) in a research report sent to investors on Thursday, Marketbeat.com reports. The firm issued a neutral rating and a $205.00 price target on the stock.

Several other equities analysts have also recently issued reports on DASH. Wells Fargo & Company reduced their target price on DoorDash from $200.00 to $199.00 and set an “equal weight” rating on the stock in a research note on Monday, July 6th. Susquehanna dropped their price target on DoorDash from $250.00 to $225.00 and set a “positive” rating for the company in a research note on Friday, May 8th. Moffett Nathanson set a $276.00 price target on shares of DoorDash in a report on Wednesday, April 15th. DA Davidson reduced their price objective on shares of DoorDash from $224.00 to $200.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Finally, Zacks Research raised shares of DoorDash from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $252.89.

DoorDash Stock Down 1.2%

NASDAQ DASH opened at $184.14 on Thursday. DoorDash has a 1 year low of $143.30 and a 1 year high of $285.50. The stock has a market capitalization of $80.23 billion, a PE ratio of 87.69 and a beta of 1.78. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43. The business’s 50-day moving average is $169.76 and its 200 day moving average is $177.68.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The business had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the prior year, the company posted $0.44 EPS. DoorDash’s quarterly revenue was up 33.1% compared to the same quarter last year. Sell-side analysts forecast that DoorDash will post 2.39 earnings per share for the current year.

Insider Transactions at DoorDash

In related news, Director Stanley Tang sold 23,125 shares of DoorDash stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $191.19, for a total transaction of $4,421,268.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andy Fang sold 5,000 shares of the company’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $180.00, for a total value of $900,000.00. 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 three months, insiders have sold 84,927 shares of company stock worth $15,124,932. 5.83% of the stock is owned by insiders.

Hedge Funds Weigh In On DoorDash

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in DoorDash during the 4th quarter valued at about $1,093,650,000. Wellington Management Group LLP grew its holdings in DoorDash by 593.1% in the fourth quarter. Wellington Management Group LLP now owns 5,481,693 shares of the company’s stock worth $1,241,494,000 after purchasing an additional 4,690,744 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in DoorDash by 32.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company’s stock worth $3,161,234,000 after purchasing an additional 3,447,754 shares during the period. Janus Henderson Group PLC increased its stake in shares of DoorDash by 40.2% during the first quarter. Janus Henderson Group PLC now owns 7,762,553 shares of the company’s stock valued at $1,159,377,000 after purchasing an additional 2,225,954 shares in the last quarter. Finally, Coatue Management LLC increased its stake in shares of DoorDash by 77.8% during the fourth quarter. Coatue Management LLC now owns 4,365,365 shares of the company’s stock valued at $988,668,000 after purchasing an additional 1,910,488 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Trending Headlines about DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Wedbush initiated coverage on DoorDash with a neutral rating and a $205 price target, implying upside from current levels and signaling Wall Street still sees value in the stock. Benzinga report on Wedbush coverage
• Positive Sentiment: DoorDash unveiled new developer-focused tools, including the dd-cli AI command-line tool for macOS, and also said it will let AI agents place real food orders, which could broaden usage and highlight the company’s push into AI-enabled commerce. TechCrunch article Yahoo Finance article
• Neutral Sentiment: DoorDash is also being mentioned in stories about robots on New Mexico roads and a DoorDash “index” on burger prices in California; these are more business-interest and brand-awareness items than direct stock drivers. Yahoo News article on robots Yahoo Finance article on DoorDash index
• Negative Sentiment: A new lawsuit seeking $25 million claims DoorDash allowed an unlicensed driver to make deliveries, adding to liability and regulatory risk around its delivery network. Daily Press lawsuit article
• Negative Sentiment: Uber’s planned Delivery Hero acquisition is fueling competition concerns, with some coverage saying the deal could make Uber the world’s largest food-delivery player outside China and strengthen a major rival to DoorDash. Business Insider article Zacks article

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.