DoorDash’s (DASH) Buy Rating Reiterated at BTIG Research

DoorDash (NASDAQ:DASH)‘s stock had its “buy” rating reissued by equities researchers at BTIG Research in a note issued to investors on Wednesday, Benzinga reports. They presently have a $225.00 price objective on the stock. BTIG Research‘s price objective points to a potential upside of 19.59% from the stock’s current price.

DASH has been the topic of several other research reports. Scotiabank initiated coverage on DoorDash in a research note on Wednesday, September 9th. They set a “sector outperform” rating and a $275.00 target price on the stock. Benchmark lifted their target price on DoorDash from $270.00 to $295.00 in a research note on Thursday, August 6th. Cantor Fitzgerald cut their target price on DoorDash from $260.00 to $240.00 and set an “overweight” rating on the stock in a research note on Monday, October 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $265.00 target price on shares of DoorDash in a research note on Thursday, August 6th. Finally, Zacks Research raised DoorDash from a “strong sell” rating to a “hold” rating in a research note on Monday, August 17th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, DoorDash currently has an average rating of “Moderate Buy” and an average price target of $254.95.

DoorDash Stock Performance

DoorDash stock traded down $3.52 during mid-day trading on Wednesday, hitting $188.15. 535,653 shares of the company’s stock traded hands, compared to its average volume of 4,557,763. 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. The company has a market cap of $81.52 billion, a PE ratio of 99.21 and a beta of 1.90. DoorDash has a one year low of $143.30 and a one year high of $269.00.

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

Insider Buying and Selling

In other news, COO Keith Yandell sold 2,183 shares of the business’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $183.69, for a total value of $400,995.27. Following the sale, the chief operating officer owned 118,505 shares of the company’s stock, valued at approximately $21,768,183.45. The trade was a 1.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 8,738 shares of the business’s stock in a transaction on Monday, September 28th. The stock was sold at an average price of $180.85, for a total value of $1,580,267.30. Following the completion of the sale, the chief operating officer directly owned 921,473 shares in the company, valued at $166,648,392.05. This represents a 0.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 393,998 shares of company stock worth $85,861,330. 44.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DoorDash

A number of institutional investors and hedge funds have recently modified their holdings of the stock. City State Bank raised its position in shares of DoorDash by 56.0% during the third quarter. City State Bank now owns 156 shares of the company’s stock worth $29,000 after purchasing an additional 56 shares during the period. Washington Trust Advisors Inc. raised its position 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 purchasing an additional 64 shares during the period. Premier Path Wealth Partners LLC raised its position 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 purchasing an additional 67 shares during the period. V Square Quantitative Management LLC raised its position in shares of DoorDash by 3.3% during the first quarter. V Square Quantitative Management LLC now owns 2,327 shares of the company’s stock worth $349,000 after purchasing an additional 74 shares during the period. Finally, Rehmann Capital Advisory Group raised its position in shares of DoorDash by 8.0% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,107 shares of the company’s stock worth $251,000 after purchasing an additional 82 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

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.