DoorDash (NASDAQ:DASH) Earns Outperform Rating from Analysts at Raymond James

Research analysts at Raymond James began coverage on shares of DoorDash (NASDAQ:DASH) in a report issued on Tuesday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $155.00 price target on the stock. Raymond James’ price target would suggest a potential upside of 7.69% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. increased their target price on shares of DoorDash from $111.00 to $137.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. BMO Capital Markets increased their target price on shares of DoorDash from $127.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Barclays raised their price objective on shares of DoorDash from $113.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Redburn Atlantic initiated coverage on shares of DoorDash in a research note on Friday, July 26th. They issued a “buy” rating and a $170.00 price objective on the stock. Finally, Needham & Company LLC lifted their price objective on shares of DoorDash from $137.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, DoorDash has a consensus rating of “Moderate Buy” and a consensus price target of $145.50.

DoorDash Stock Performance

DoorDash stock opened at $143.93 on Tuesday. The company has a 50-day simple moving average of $123.53 and a 200-day simple moving average of $121.71. The firm has a market capitalization of $59.23 billion, a P/E ratio of -133.27, a P/E/G ratio of 295.70 and a beta of 1.69. DoorDash has a one year low of $69.90 and a one year high of $146.36.

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

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $105.57, for a total value of $5,278,500.00. Following the sale, the director now owns 19,982 shares of the company’s stock, valued at approximately $2,109,499.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other DoorDash news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $105.57, for a total value of $5,278,500.00. Following the sale, the director now owns 19,982 shares of the company’s stock, valued at approximately $2,109,499.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $109.30, for a total transaction of $765,100.00. Following the completion of the sale, the chief financial officer now directly owns 424,223 shares in the company, valued at approximately $46,367,573.90. The disclosure for this sale can be found here. Insiders have sold 357,223 shares of company stock valued at $42,156,623 in the last 90 days. 7.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DoorDash

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of 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 purchasing an additional 2,259,976 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of DoorDash by 0.8% in the 2nd quarter. Baillie Gifford & Co. now owns 12,497,488 shares of the company’s stock valued at $1,359,477,000 after purchasing an additional 94,241 shares in the last quarter. Capital World Investors boosted its stake in shares of DoorDash by 0.8% in the 1st quarter. Capital World Investors now owns 9,470,247 shares of the company’s stock valued at $1,304,242,000 after purchasing an additional 74,504 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of DoorDash by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,469,647 shares of the company’s stock valued at $753,281,000 after purchasing an additional 242,956 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of DoorDash by 11,416.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock valued at $475,837,000 after purchasing an additional 3,425,115 shares in the last quarter. 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.