DoorDash, Inc. (NASDAQ:DASH) Given Average Rating of “Moderate Buy” by Brokerages

Shares of DoorDash, Inc. (NASDAQ:DASH) have earned an average rating of “Moderate Buy” from the twenty-four brokerages that are currently covering the firm, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $134.79.

A number of research firms have recently weighed in on DASH. Wedbush restated a “neutral” rating and issued a $115.00 price target on shares of DoorDash in a report on Thursday, May 2nd. Citigroup lifted their target price on shares of DoorDash from $141.00 to $144.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. BMO Capital Markets lowered their target price on shares of DoorDash from $138.00 to $127.00 and set an “outperform” rating for the company in a research note on Thursday, May 2nd. JPMorgan Chase & Co. lifted their target price on shares of DoorDash from $108.00 to $111.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $137.00 price target on shares of DoorDash in a research report on Thursday, May 2nd.

DoorDash Price Performance

Shares of DoorDash stock opened at $108.51 on Tuesday. DoorDash has a 1 year low of $69.90 and a 1 year high of $143.34. The firm’s 50-day moving average is $115.23 and its two-hundred day moving average is $117.40. The stock has a market cap of $44.37 billion, a price-to-earnings ratio of -100.47, a PEG ratio of 27.50 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The business had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.45 billion. During the same period last year, the business earned ($0.41) EPS. The company’s revenue was up 23.5% compared to the same quarter last year. On average, equities analysts expect that DoorDash will post 0.11 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Andy Fang sold 66,195 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $139.31, for a total value of $9,221,625.45. Following the completion of the sale, the director now owns 36,482 shares of the company’s stock, valued at approximately $5,082,307.42. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, COO Prabir Adarkar sold 8,000 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $109.98, for a total value of $879,840.00. Following the completion of the sale, the chief operating officer now owns 1,002,787 shares of the company’s stock, valued at approximately $110,286,514.26. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Andy Fang sold 66,195 shares of DoorDash stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $139.31, for a total transaction of $9,221,625.45. Following the sale, the director now directly owns 36,482 shares in the company, valued at approximately $5,082,307.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 478,325 shares of company stock valued at $58,347,361. 7.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DoorDash

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC boosted its position in shares of DoorDash by 11,416.7% during the 1st quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock valued at $475,837,000 after acquiring an additional 3,425,115 shares during the last quarter. Norges Bank purchased a new stake in DoorDash in the 4th quarter valued at about $264,806,000. Vanguard Group Inc. raised its holdings in DoorDash by 8.4% in the 4th quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock valued at $2,897,823,000 after buying an additional 2,259,976 shares during the period. Franklin Resources Inc. raised its holdings in DoorDash by 294.5% in the 4th quarter. Franklin Resources Inc. now owns 1,607,776 shares of the company’s stock valued at $158,993,000 after buying an additional 1,200,181 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in DoorDash by 1,725.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock valued at $110,082,000 after buying an additional 1,052,198 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

About DoorDash

DoorDash, Inc, together with its subsidiaries, operates a commerce platform that connects merchants, consumers, and independent contractors in the United States and internationally. The company operates DoorDash Marketplace and Wolt Marketplace, which provide various services, such as customer acquisition, demand generation, order fulfillment, merchandising, payment processing, and customer support.