DoorDash (NASDAQ:DASH) Upgraded at Argus

Argus upgraded shares of DoorDash (NASDAQ:DASH) from a hold rating to a buy rating in a research note issued to investors on Friday morning, MarketBeat.com reports.

Several other equities analysts have also recently commented on DASH. Needham & Company LLC boosted their target price on shares of DoorDash from $145.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. BTIG Research upgraded shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research report on Thursday, September 19th. Piper Sandler raised their target price on DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Susquehanna lifted their price target on DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Finally, Raymond James assumed coverage on DoorDash in a research report on Tuesday, September 24th. They set an “outperform” rating and a $155.00 price objective for the company. Nine analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $168.39.

DoorDash Trading Up 2.0 %

Shares of DASH stock opened at $171.00 on Friday. The stock has a 50 day simple moving average of $167.59 and a 200 day simple moving average of $137.71. DoorDash has a 1 year low of $93.33 and a 1 year high of $181.78. The stock has a market cap of $71.03 billion, a P/E ratio of -380.00, a price-to-earnings-growth ratio of 13.56 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.17. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. DoorDash’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.19) EPS. Analysts forecast that DoorDash will post 0.26 EPS for the current year.

Insider Transactions at DoorDash

In related news, Director Stanley Tang sold 1,855 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total transaction of $315,312.90. Following the transaction, the director now owns 35,413 shares in the company, valued at $6,019,501.74. The trade was a 4.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Keith Yandell sold 7,980 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total transaction of $1,356,440.40. Following the completion of the sale, the insider now owns 124,221 shares of the company’s stock, valued at $21,115,085.58. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 897,362 shares of company stock valued at $151,625,589. Corporate insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Institutional investors and hedge funds have recently made changes to their positions in the stock. Asset Management One Co. Ltd. increased its holdings in shares of DoorDash by 10.6% during the third quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock valued at $16,012,000 after acquiring an additional 10,755 shares in the last quarter. Marshall Wace LLP grew its position in DoorDash by 930.5% in the 2nd quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock valued at $73,534,000 after purchasing an additional 610,388 shares during the period. Forsta AP Fonden increased its stake in DoorDash by 18.6% during the 3rd quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock valued at $9,206,000 after purchasing an additional 10,100 shares in the last quarter. Baillie Gifford & Co. raised its holdings in DoorDash by 13.2% during the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after buying an additional 1,645,186 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of DoorDash by 97.1% in the third quarter. CWM LLC now owns 10,705 shares of the company’s stock valued at $1,528,000 after buying an additional 5,273 shares in the last quarter. Institutional investors 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.