DoorDash (NASDAQ:DASH) Upgraded by Argus to Buy Rating

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

A number of other research firms have also weighed in on DASH. Susquehanna increased their price target on DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Jefferies Financial Group lifted their target price on shares of DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. BTIG Research upgraded shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a research report on Thursday, September 19th. Needham & Company LLC raised their price objective on shares of DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of DoorDash in a research note on Monday, October 7th. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $168.39.

DoorDash Trading Up 2.0 %

NASDAQ:DASH opened at $171.00 on Friday. The company has a 50-day moving average of $167.59 and a 200-day moving average of $137.52. DoorDash has a twelve month low of $93.33 and a twelve month high of $181.78. The firm has a market cap of $71.03 billion, a price-to-earnings ratio of -380.00, a price-to-earnings-growth ratio of 13.56 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last posted its quarterly 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. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the previous year, the business posted ($0.19) earnings per share. The firm’s quarterly revenue was up 25.0% compared to the same quarter last year. On average, research analysts forecast that DoorDash will post 0.26 earnings per share for the current year.

Insider Transactions at DoorDash

In related news, insider Keith Yandell sold 7,980 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 $1,356,440.40. Following the transaction, the insider now owns 124,221 shares of the company’s stock, valued at approximately $21,115,085.58. The trade was a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Tony Xu sold 108,332 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $178.74, for a total transaction of $19,363,261.68. Following the completion of the sale, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at approximately $268,110. 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 ninety days, insiders have sold 951,528 shares of company stock worth $159,212,079. Company insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Several large investors have recently modified their holdings of the stock. Principal Financial Group Inc. grew its stake in DoorDash by 25.0% during the third quarter. Principal Financial Group Inc. now owns 90,786 shares of the company’s stock worth $12,958,000 after buying an additional 18,155 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of DoorDash by 1.1% during the third quarter. Lord Abbett & CO. LLC now owns 750,119 shares of the company’s stock worth $107,064,000 after purchasing an additional 8,195 shares during the last quarter. Franklin Resources Inc. lifted its position in DoorDash by 15.2% during the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock worth $570,135,000 after buying an additional 501,905 shares in the last quarter. Tri Ri Asset Management Corp bought a new stake in DoorDash during the 3rd quarter worth about $6,250,000. Finally, Tidal Investments LLC raised its stake in shares of DoorDash by 19.9% in the third quarter. Tidal Investments LLC now owns 12,321 shares of the company’s stock worth $1,759,000 after acquiring an additional 2,049 shares during the last quarter. 90.64% of the stock is currently owned by 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.