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

DoorDash (NASDAQ:DASH)‘s stock had its “buy” rating reaffirmed by investment analysts at BTIG Research in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $225.00 price target on the stock. BTIG Research‘s target price would indicate a potential upside of 20.45% from the company’s previous close.

A number of other analysts also recently weighed in on DASH. Roth Capital increased their price target on shares of DoorDash from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Guggenheim restated a “buy” rating and set a $255.00 price objective on shares of DoorDash in a report on Wednesday, October 14th. Raymond James Financial reiterated a “buy” rating on shares of DoorDash in a research note on Thursday, September 3rd. Susquehanna lifted their target price on DoorDash from $225.00 to $250.00 and gave the stock a “positive” rating in a research report on Friday, August 7th. Finally, The Goldman Sachs Group lowered their price target on DoorDash from $280.00 to $275.00 in a research note on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, DoorDash currently has an average rating of “Moderate Buy” and a consensus target price of $254.95.

DoorDash Stock Performance

NASDAQ DASH traded down $4.88 during trading on Wednesday, hitting $186.80. The company’s stock had a trading volume of 1,378,838 shares, compared to its average volume of 4,562,712. DoorDash has a 52 week low of $143.30 and a 52 week high of $269.00. The firm has a market cap of $80.94 billion, a P/E ratio of 98.00 and a beta of 1.90. The firm has a 50 day moving average price of $204.10 and a 200 day moving average price of $184.78. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data 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 company had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same quarter in the previous year, the business posted $0.65 EPS. The company’s revenue was up 35.6% on a year-over-year basis. Equities research analysts forecast that DoorDash will post 2.51 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Ravi Inukonda sold 19,505 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $220.62, for a total value of $4,303,193.10. Following the completion of the transaction, the chief financial officer directly owned 232,938 shares of the company’s stock, valued at approximately $51,390,781.56. This represents a 7.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Andy Fang sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $228.31, for a total value of $3,424,650.00. 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. Over the last quarter, insiders have sold 393,998 shares of company stock valued at $85,861,330. 44.90% of the stock is owned by company insiders.

Institutional Trading of DoorDash

Large investors have recently bought and sold shares of the stock. Income Insurance Ltd raised its position in shares of DoorDash by 384.2% during the third quarter. Income Insurance Ltd now owns 5,544 shares of the company’s stock worth $1,018,000 after acquiring an additional 4,399 shares during the last quarter. Sowell Financial Services LLC boosted its holdings in DoorDash by 702.6% in the third quarter. Sowell Financial Services LLC now owns 22,617 shares of the company’s stock valued at $4,151,000 after acquiring an additional 19,799 shares during the last quarter. City State Bank boosted its holdings in DoorDash by 56.0% in the third quarter. City State Bank now owns 156 shares of the company’s stock valued at $29,000 after acquiring an additional 56 shares during the last quarter. Quadrant Capital Group LLC increased its position in DoorDash by 429.2% in the third quarter. Quadrant Capital Group LLC now owns 34,022 shares of the company’s stock worth $6,245,000 after purchasing an additional 27,593 shares during the period. Finally, Physician Wealth Advisors Inc. increased its position in DoorDash by 2,208.4% in the third quarter. Physician Wealth Advisors Inc. now owns 2,747 shares of the company’s stock worth $504,000 after purchasing an additional 2,628 shares during the period. 90.64% of the stock is currently owned by institutional investors.

DoorDash Company Profile

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.