DoorDash (NASDAQ:DASH) Given “Buy” Rating at BTIG Research

DoorDash (NASDAQ:DASH)‘s stock had its “buy” rating restated by equities research analysts at BTIG Research in a note issued to investors on Wednesday, Benzinga reports. They presently have a $225.00 price target on the stock. BTIG Research‘s price objective suggests a potential upside of 22.59% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Wedbush boosted their target price on DoorDash from $205.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, August 20th. UBS Group restated a “buy” rating and set a $295.00 target price on shares of DoorDash in a research note on Tuesday, September 8th. 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. Rosenblatt Securities assumed coverage on DoorDash in a research report on Tuesday, September 1st. They set a “buy” rating and a $270.00 price target on the stock. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of DoorDash in a research report on Thursday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, DoorDash has an average rating of “Moderate Buy” and an average price target of $254.95.

DoorDash Trading Down 1.3%

Shares of NASDAQ:DASH traded down $2.40 during midday trading on Wednesday, reaching $183.54. 288,157 shares of the company’s stock were exchanged, compared to its average volume of 4,548,146. The firm’s 50 day simple moving average is $202.93 and its two-hundred day simple moving average is $185.18. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a market cap of $79.53 billion, a price-to-earnings ratio of 95.78 and a beta of 1.90. DoorDash has a fifty-two week low of $143.30 and a fifty-two week high of $269.00.

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

Insiders Place Their Bets

In related news, 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ravi Inukonda sold 1,017 shares of DoorDash stock in a transaction on Monday, October 12th. The shares were sold at an average price of $195.00, for a total value of $198,315.00. Following the transaction, the chief financial officer owned 217,911 shares in the company, valued at $42,492,645. This represents a 0.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 393,998 shares of company stock valued at $85,861,330. Corporate insiders own 44.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DASH. Janus Henderson Group PLC increased its position in shares of DoorDash by 40.2% in the 1st 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 in the last quarter. Temasek Holdings Private Ltd raised its position 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 purchasing an additional 1,145,078 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in DoorDash by 2,304.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 3,452,110 shares of the company’s stock valued at $633,635,000 after acquiring an additional 3,308,512 shares during the period. Bank of America Corp DE lifted its position in DoorDash by 18.4% during the first quarter. Bank of America Corp DE now owns 3,449,266 shares of the company’s stock worth $517,907,000 after acquiring an additional 536,080 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of DoorDash by 372.0% during the third quarter. Assenagon Asset Management S.A. now owns 3,137,719 shares of the company’s stock worth $575,928,000 after acquiring an additional 2,472,980 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

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.