DoorDash (NASDAQ:DASH) Raised to Strong-Buy at Rosenblatt Securities

DoorDash (NASDAQ:DASH) was upgraded by Rosenblatt Securities to a “strong-buy” rating in a report issued on Monday, Zacks reports.

Several other analysts have also issued reports on the stock. Bank of America reaffirmed a “buy” rating on shares of DoorDash in a research report on Thursday, August 6th. BTIG Research reissued a “buy” rating and issued a $225.00 price objective on shares of DoorDash in a research report on Thursday, August 6th. Susquehanna boosted their price objective on shares of DoorDash from $225.00 to $250.00 and gave the stock a “positive” rating in a research note on Friday, August 7th. Rothschild & Co Redburn set a $350.00 target price on shares of DoorDash in a report on Tuesday, May 12th. Finally, Citigroup reiterated a “market outperform” rating on shares of DoorDash in a research note on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $254.97.

DoorDash Stock Down 2.6%

NASDAQ:DASH opened at $225.66 on Monday. DoorDash has a twelve month low of $143.30 and a twelve month high of $285.50. The firm has a market capitalization of $97.78 billion, a price-to-earnings ratio of 118.15 and a beta of 1.79. 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 price is $201.37 and its two-hundred day moving average price is $177.42.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $4.34 billion. During the same period in the previous year, the company posted $0.65 EPS. The company’s quarterly revenue was up 35.6% compared to the same quarter last year. Equities research analysts expect that DoorDash will post 2.45 earnings per share for the current fiscal year.

Insider Buying and Selling at DoorDash

In other DoorDash news, CFO Ravi Inukonda sold 19,505 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $220.62, for a total value of $4,303,193.10. Following the transaction, the chief financial officer directly owned 232,938 shares in the company, valued at $51,390,781.56. The trade was a 7.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Stanley Tang sold 10,134 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $225.00, for a total transaction of $2,280,150.00. Following the completion of the transaction, the director directly owned 10,361 shares in the company, valued at $2,331,225. The trade was a 49.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 337,674 shares of company stock worth $72,974,540. 44.90% of the stock is currently owned by corporate insiders.

Institutional Trading of DoorDash

Several hedge funds and other institutional investors have recently modified their holdings of the stock. CYBER HORNET ETFs LLC raised its holdings in DoorDash by 6.5% in the 4th quarter. CYBER HORNET ETFs LLC now owns 979 shares of the company’s stock valued at $222,000 after acquiring an additional 60 shares during the period. Vise Technologies Inc. lifted its position in DoorDash by 1.8% during the fourth quarter. Vise Technologies Inc. now owns 3,517 shares of the company’s stock worth $796,000 after acquiring an additional 63 shares during the last quarter. Washington Trust Advisors Inc. boosted its holdings in shares of DoorDash by 81.0% during the second quarter. Washington Trust Advisors Inc. now owns 143 shares of the company’s stock worth $26,000 after acquiring an additional 64 shares during the period. Premier Path Wealth Partners LLC boosted its holdings in shares of DoorDash by 2.7% during the second quarter. Premier Path Wealth Partners LLC now owns 2,520 shares of the company’s stock worth $465,000 after acquiring an additional 67 shares during the period. Finally, Sunbelt Securities Inc. boosted its holdings in shares of DoorDash by 124.1% during the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock worth $33,000 after acquiring an additional 67 shares during the period. Institutional investors own 90.64% of the company’s stock.

About DoorDash

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.