DoorDash (NASDAQ:DASH) Given “Market Outperform” Rating at JMP Securities

DoorDash (NASDAQ:DASH)‘s stock had its “market outperform” rating reaffirmed by research analysts at JMP Securities in a research note issued on Thursday,Benzinga reports. They presently have a $200.00 target price on the stock. JMP Securities’ price target points to a potential upside of 19.23% from the stock’s previous close.

Several other equities research analysts also recently commented on DASH. Raymond James initiated coverage on shares of DoorDash in a research note on Tuesday, September 24th. They set an “outperform” rating and a $155.00 price objective for the company. Jefferies Financial Group boosted their price target on DoorDash from $155.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Susquehanna raised their price objective on DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Needham & Company LLC increased their price target on shares of DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Truist Financial upped their price objective on shares of DoorDash from $180.00 to $217.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $168.70.

DoorDash Stock Down 1.1 %

Shares of DASH opened at $167.75 on Thursday. The company has a market cap of $69.68 billion, a price-to-earnings ratio of -372.78, a price-to-earnings-growth ratio of 13.56 and a beta of 1.70. DoorDash has a twelve month low of $93.33 and a twelve month high of $181.78. The company has a 50 day moving average of $170.59 and a two-hundred day moving average of $140.88.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same period last year, the business posted ($0.19) earnings per share. The firm’s revenue was up 25.0% compared to the same quarter last year. On average, sell-side analysts expect that DoorDash will post 0.26 EPS for the current year.

Insider Activity at DoorDash

In other DoorDash news, insider Keith Yandell sold 7,980 shares of the company’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 transaction, the insider now directly owns 124,221 shares in the company, valued at $21,115,085.58. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tony Xu sold 108,334 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $180.07, for a total value of $19,507,703.38. Following the transaction, the chief executive officer now owns 1,500 shares of the company’s stock, valued at $270,105. This trade represents a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 917,362 shares of company stock worth $154,996,189. Insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DASH. Baillie Gifford & Co. lifted its stake in DoorDash by 13.2% in the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after acquiring an additional 1,645,186 shares during the last quarter. State Street Corp raised its holdings in shares of DoorDash by 3.8% in the 3rd quarter. State Street Corp now owns 7,395,891 shares of the company’s stock valued at $1,055,616,000 after purchasing an additional 272,659 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of DoorDash by 14.5% during the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock worth $789,766,000 after purchasing an additional 700,465 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of DoorDash by 6.4% during the third quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company’s stock worth $636,652,000 after purchasing an additional 267,855 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in DoorDash by 15.2% in the third quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock valued at $570,135,000 after buying an additional 501,905 shares in the last quarter. 90.64% of the stock is currently 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.