DoorDash (NASDAQ:DASH) Earns “Buy” Rating from BTIG Research

DoorDash (NASDAQ:DASH)‘s stock had its “buy” rating reiterated by stock analysts at BTIG Research in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $225.00 price target on the stock. BTIG Research‘s price objective would indicate a potential upside of 17.86% from the company’s previous close.

A number of other research analysts have also weighed in on DASH. Wedbush raised their target price on DoorDash from $205.00 to $220.00 and gave the company a “neutral” rating in a report on Thursday, August 20th. JPMorgan Chase & Co. raised their target price on DoorDash from $250.00 to $262.00 in a report on Wednesday, August 5th. Weiss Ratings restated a “hold (c)” rating on shares of DoorDash in a report on Friday, August 7th. Piper Sandler reiterated a “neutral” rating and set a $220.00 price target (up from $205.00) on shares of DoorDash in a report on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on DoorDash from $255.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $254.95.

DoorDash Stock Down 0.4%

DASH stock opened at $190.91 on Wednesday. DoorDash has a twelve month low of $143.30 and a twelve month high of $269.00. 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’s 50 day moving average is $204.10 and its 200-day moving average is $184.78. The firm has a market capitalization of $82.72 billion, a PE ratio of 99.95 and a beta of 1.90.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The company had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter in the prior year, the business earned $0.65 EPS. The firm’s revenue for the quarter was up 35.6% compared to the same quarter last year. Sell-side analysts expect that DoorDash will post 2.51 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In related news, CFO Ravi Inukonda sold 1,017 shares of DoorDash stock in a transaction on Monday, October 12th. The stock was sold at an average price of $195.00, for a total transaction of $198,315.00. Following the sale, the chief financial officer directly owned 217,911 shares in the company, valued at approximately $42,492,645. This trade represents a 0.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 DoorDash stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $183.69, for a total value of $918,450.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 393,998 shares of company stock valued at $85,861,330 in the last ninety days. 44.90% of the stock is owned by corporate insiders.

Institutional Trading of DoorDash

A number of hedge funds have recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. raised its stake in shares of DoorDash by 2,304.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 3,452,110 shares of the company’s stock valued at $633,635,000 after buying an additional 3,308,512 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of DoorDash by 372.0% in the third quarter. Assenagon Asset Management S.A. now owns 3,137,719 shares of the company’s stock valued at $575,928,000 after buying an additional 2,472,980 shares during the period. Janus Henderson Group PLC raised its stake in shares of DoorDash by 40.2% in 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 buying an additional 2,225,954 shares during the period. Vontobel Holding Ltd. raised its stake in shares of DoorDash by 15,993.1% in the third quarter. Vontobel Holding Ltd. now owns 1,216,478 shares of the company’s stock valued at $223,285,000 after buying an additional 1,208,919 shares during the period. Finally, Temasek Holdings Private Ltd raised its stake in shares of DoorDash by 49.4% in the first quarter. Temasek Holdings Private Ltd now owns 3,461,501 shares of the company’s stock valued at $519,744,000 after buying an additional 1,145,078 shares during the period. 90.64% of the stock is currently owned by institutional investors.

About DoorDash

DoorDash, Inc (NASDAQ:DASH) operates a local commerce platform that connects consumers with restaurants, grocery stores, convenience retailers and other merchants. Through its website and mobile applications, customers can browse products, place orders for delivery or pickup, and access related services.

The company provides merchants with ordering, delivery, logistics, marketing and payment tools. Its offerings include the DoorDash Marketplace, subscription programs such as DashPass, and delivery infrastructure that merchants can use through services including DoorDash Drive.