DoorDash (NASDAQ:DASH) Receives New Coverage from Analysts at KeyCorp

KeyCorp assumed coverage on shares of DoorDash (NASDAQ:DASH) in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The brokerage set a “sector weight” rating on the stock.

Several other research analysts have also commented on the company. Benchmark dropped their price target on DoorDash from $165.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft boosted their target price on DoorDash from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Wedbush restated a “neutral” rating and issued a $115.00 price target on shares of DoorDash in a research report on Thursday, May 2nd. JMP Securities reduced their target price on shares of DoorDash from $160.00 to $140.00 and set a “market outperform” rating on the stock in a research note on Thursday, May 2nd. Finally, Royal Bank of Canada lowered their target price on shares of DoorDash from $175.00 to $165.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. Nine analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $134.79.

DoorDash Price Performance

Shares of DASH opened at $106.00 on Thursday. The stock has a market capitalization of $43.34 billion, a price-to-earnings ratio of -98.15, a price-to-earnings-growth ratio of 27.57 and a beta of 1.67. DoorDash has a 1 year low of $69.90 and a 1 year high of $143.34. The business’s 50 day simple moving average is $112.28 and its 200-day simple moving average is $117.64.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.06) EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $2.45 billion. During the same quarter last year, the business earned ($0.41) earnings per share. DoorDash’s quarterly revenue was up 23.5% compared to the same quarter last year. On average, sell-side analysts expect that DoorDash will post 0.11 earnings per share for the current year.

Insider Transactions at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $113.40, for a total transaction of $5,670,000.00. Following the sale, the director now owns 39,275 shares of the company’s stock, valued at approximately $4,453,785. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other DoorDash news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $113.40, for a total value of $5,670,000.00. Following the completion of the transaction, the director now directly owns 39,275 shares in the company, valued at $4,453,785. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shona L. Brown sold 1,712 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $110.97, for a total transaction of $189,980.64. Following the completion of the sale, the director now owns 70,191 shares in the company, valued at $7,789,095.27. The disclosure for this sale can be found here. In the last quarter, insiders sold 487,150 shares of company stock valued at $57,195,176. Company insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Several institutional investors and hedge funds have recently bought and sold shares of the company. Spire Wealth Management acquired a new stake in shares of DoorDash in the 1st quarter worth $25,000. Venturi Wealth Management LLC boosted its holdings in DoorDash by 54.5% in the first quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock worth $35,000 after acquiring an additional 90 shares in the last quarter. ORG Partners LLC grew its stake in shares of DoorDash by 2,108.3% during the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock worth $37,000 after acquiring an additional 253 shares during the last quarter. Hollencrest Capital Management acquired a new position in shares of DoorDash during the first quarter valued at about $42,000. Finally, Versant Capital Management Inc increased its holdings in shares of DoorDash by 340.8% during the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after acquiring an additional 259 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Company Profile

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.