DoorDash (NASDAQ:DASH) Upgraded to Strong-Buy at Scotiabank

DoorDash (NASDAQ:DASH) was upgraded by stock analysts at Scotiabank to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, Zacks reports.

A number of other analysts have also recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $265.00 price objective on shares of DoorDash in a research note on Thursday, August 6th. Piper Sandler restated a “neutral” rating and set a $220.00 target price (up from $205.00) on shares of DoorDash in a research note on Thursday, August 6th. Rothschild & Co Redburn set a $350.00 target price on shares of DoorDash in a report on Tuesday, May 12th. Benchmark cut their price target on DoorDash from $285.00 to $270.00 and set a “buy” rating for the company in a research note on Monday, August 3rd. Finally, UBS Group reissued a “buy” rating and set a $295.00 price target on shares of DoorDash in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $257.47.

DoorDash Stock Down 1.6%

DASH stock opened at $197.24 on Wednesday. DoorDash has a twelve month low of $143.30 and a twelve month high of $285.50. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. The stock has a market cap of $85.46 billion, a P/E ratio of 103.27 and a beta of 1.79. The business’s 50-day moving average price is $204.83 and its 200-day moving average price is $179.36.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). DoorDash had a return on equity of 8.48% and a net margin of 5.29%.The firm had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.34 billion. During the same period in the prior year, the company posted $0.65 earnings per share. The company’s revenue was up 35.6% compared to the same quarter last year. On average, equities research analysts forecast that DoorDash will post 2.49 EPS for the current year.

Insider Buying and Selling

In other news, COO Prabir Adarkar sold 55,289 shares of DoorDash stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $231.76, for a total value of $12,813,778.64. Following the sale, the chief operating officer directly owned 930,211 shares of the company’s stock, valued at approximately $215,585,701.36. The trade was a 5.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Tony Xu sold 3,767 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $230.00, for a total value of $866,410.00. Following the completion of the sale, the chief executive officer owned 1,500 shares in the company, valued at $345,000. This represents a 71.52% decrease in their ownership of the stock. 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 sold a total of 399,553 shares of company stock worth $87,034,140 in the last 90 days. 44.90% of the stock is owned by company insiders.

Institutional Trading of DoorDash

A number of large investors have recently added to or reduced their stakes in the company. MV Capital Management Inc. purchased a new position in shares of DoorDash in the fourth quarter valued at $26,000. Sunbelt Securities Inc. raised its stake in DoorDash by 124.1% during the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock valued at $33,000 after purchasing an additional 67 shares in the last quarter. Swiss RE Ltd. purchased a new stake in DoorDash during the fourth quarter valued at $28,000. Morse Asset Management Inc bought a new position in DoorDash during the third quarter valued at $36,000. Finally, Kemnay Advisory Services Inc. bought a new position in DoorDash during the fourth quarter valued at $32,000. Institutional investors own 90.64% of the company’s stock.

DoorDash News Roundup

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Retail expansion: DoorDash is partnering with fashion brands including SKIMS and Windsor to deliver last-minute clothing and wardrobe items. The deals support DoorDash’s strategy of expanding beyond restaurant delivery, potentially increasing order frequency and broadening its addressable market. Windsor DoorDash partnership SKIMS DoorDash partnership
• Positive Sentiment: Technology and marketing visibility: DoorDash Labs was named Innovation Team of the Year, while a new Jameis Winston advertising campaign and football-season rewards promotion could support brand awareness and customer engagement. These developments are strategically favorable but have limited immediate earnings impact. DoorDash Labs award Jameis Winston DoorDash advertisement
• Neutral Sentiment: Human-interest coverage involving DoorDash orders, tipping and recipes is unlikely to materially affect the company’s financial outlook. Chicken recipes and DoorDash
• Negative Sentiment: Director Andy Fang sold 15,000 DASH shares for approximately $3.42 million at an average price of $228.31. Because the sale was executed under a pre-arranged Rule 10b5-1 plan, it is a weaker bearish signal, but it may still weigh on sentiment given the stock’s premium valuation. DoorDash director insider sale

About DoorDash

DoorDash, Inc operates a local commerce platform that connects consumers with merchants and independent delivery workers. Its marketplace enables customers to order meals from restaurants as well as groceries, convenience items, alcohol where permitted, and products from other retail businesses through its websites and mobile applications.

The company also provides services designed to support merchants, including delivery logistics, online ordering, marketing, payment processing, and customer-engagement tools.