DoorDash, Inc. (NASDAQ:DASH) Receives Average Recommendation of “Moderate Buy” from Analysts

DoorDash, Inc. (NASDAQ:DASH) has received an average rating of “Moderate Buy” from the thirty-six analysts that are presently covering the stock, Marketbeat reports. Nine research analysts have rated the stock with a hold recommendation, twenty-five have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $259.5833.

Several brokerages have commented on DASH. Bank of America raised their target price on shares of DoorDash from $260.00 to $272.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Stifel Nicolaus dropped their target price on shares of DoorDash from $215.00 to $185.00 and set a “hold” rating on the stock in a report on Monday, April 13th. Piper Sandler dropped their target price on shares of DoorDash from $220.00 to $205.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Evercore set a $300.00 target price on shares of DoorDash in a report on Thursday, February 19th. Finally, Zacks Research upgraded shares of DoorDash from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th.

Insider Activity

In other news, insider Keith Yandell sold 2,643 shares of DoorDash stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $155.34, for a total value of $410,563.62. Following the sale, the insider directly owned 81,106 shares in the company, valued at $12,599,006.04. This trade represents a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 21,433 shares of DoorDash stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $150.00, for a total transaction of $3,214,950.00. Following the completion of the sale, the director owned 19,279 shares in the company, valued at $2,891,850. This trade represents a 52.65% 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. In the last ninety days, insiders sold 69,808 shares of company stock worth $11,135,403. Corporate insiders own 5.83% of the company’s stock.

Institutional Trading of DoorDash

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE raised its holdings in shares of DoorDash by 18.4% in the first quarter. Bank of America Corp DE now owns 3,449,266 shares of the company’s stock valued at $517,907,000 after purchasing an additional 536,080 shares during the last quarter. Anson Funds Management LP acquired a new stake in shares of DoorDash in the first quarter valued at approximately $1,314,000. Janus Henderson Group PLC raised its holdings 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 purchasing an additional 2,225,954 shares during the last quarter. Arkadios Wealth Advisors raised its holdings in shares of DoorDash by 4.8% in the first quarter. Arkadios Wealth Advisors now owns 5,998 shares of the company’s stock valued at $901,000 after purchasing an additional 272 shares during the last quarter. Finally, Spyglass Capital Management LLC raised its holdings in shares of DoorDash by 10.2% in the first quarter. Spyglass Capital Management LLC now owns 298,176 shares of the company’s stock valued at $44,771,000 after purchasing an additional 27,606 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Stock Down 2.0%

DoorDash stock opened at $156.80 on Tuesday. The company’s 50 day simple moving average is $162.40 and its 200 day simple moving average is $185.84. DoorDash has a fifty-two week low of $143.30 and a fifty-two week high of $285.50. The firm has a market capitalization of $68.32 billion, a price-to-earnings ratio of 74.67 and a beta of 1.83. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. The business had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. DoorDash’s quarterly revenue was up 33.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 EPS. As a group, sell-side analysts anticipate that DoorDash will post 2.45 EPS for the current year.

DoorDash Company Profile

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.