DoorDash (NASDAQ:DASH) Lifted to “Overweight” at KeyCorp

DoorDash (NASDAQ:DASH) was upgraded by research analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a report released on Wednesday, Marketbeat reports. The brokerage currently has a $177.00 target price on the stock. KeyCorp’s price target indicates a potential upside of 23.76% from the company’s current price.

Several other research firms also recently issued reports on DASH. BTIG Research upgraded shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a report on Thursday, September 19th. Wedbush reiterated a “neutral” rating and set a $115.00 price target on shares of DoorDash in a research note on Friday, August 2nd. Argus initiated coverage on shares of DoorDash in a research note on Tuesday, July 23rd. They issued a “hold” rating for the company. Roth Mkm lifted their target price on shares of DoorDash from $118.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Finally, Redburn Atlantic assumed coverage on shares of DoorDash in a research report on Friday, July 26th. They issued a “buy” rating and a $170.00 price target for the company. Ten research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $145.50.

DoorDash Trading Down 0.6 %

Shares of DoorDash stock opened at $143.02 on Wednesday. The firm has a fifty day simple moving average of $124.38 and a 200-day simple moving average of $121.86. The stock has a market capitalization of $58.86 billion, a price-to-earnings ratio of -132.43, a PEG ratio of 295.70 and a beta of 1.69. DoorDash has a 1-year low of $69.90 and a 1-year high of $146.36.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. DoorDash’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.44) EPS. As a group, research analysts predict that DoorDash will post 0.01 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In other news, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $140.06, for a total transaction of $7,586,489.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $140.06, for a total transaction of $7,586,489.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andy Fang sold 50,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $130.20, for a total value of $6,510,000.00. Following the completion of the transaction, the director now directly owns 18,089 shares in the company, valued at approximately $2,355,187.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 350,223 shares of company stock worth $41,391,523. Company insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its holdings in DoorDash by 40.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 15,431 shares of the company’s stock worth $1,526,000 after purchasing an additional 4,475 shares during the period. Wells Fargo & Company MN increased its position in shares of DoorDash by 102.5% in the 4th quarter. Wells Fargo & Company MN now owns 199,152 shares of the company’s stock valued at $19,694,000 after buying an additional 100,787 shares in the last quarter. Corient Private Wealth LLC increased its position in shares of DoorDash by 4.2% in the 4th quarter. Corient Private Wealth LLC now owns 8,015 shares of the company’s stock valued at $793,000 after buying an additional 320 shares in the last quarter. US Bancorp DE raised its stake in DoorDash by 9.1% during the 4th quarter. US Bancorp DE now owns 6,874 shares of the company’s stock worth $680,000 after buying an additional 573 shares during the period. Finally, Commerce Bank lifted its holdings in DoorDash by 3.4% during the fourth quarter. Commerce Bank now owns 5,073 shares of the company’s stock worth $502,000 after acquiring an additional 166 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

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.