BTIG Research Reaffirms Buy Rating for DoorDash (NASDAQ:DASH)

DoorDash (NASDAQ:DASH - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at BTIG Research in a report issued on Wednesday, Benzinga reports. They presently have a $225.00 price objective on the stock. BTIG Research's price objective would suggest a potential upside of 17.39% from the stock's previous close.

A number of other equities research analysts also recently commented on the company. Moffett Nathanson dropped their price objective on DoorDash from $280.00 to $278.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Wedbush upped their price objective on DoorDash from $205.00 to $220.00 and gave the company a "neutral" rating in a report on Thursday, August 20th. Wells Fargo & Company upped their price objective on DoorDash from $225.00 to $230.00 and gave the company a "cautious" rating in a report on Monday, October 5th. Sanford C. Bernstein reiterated an "outperform" rating on shares of DoorDash in a report on Thursday, September 3rd. Finally, UBS Group reiterated a "buy" rating and issued a $295.00 price objective on shares of DoorDash in a report on Tuesday, September 8th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $254.95.

DoorDash Trading Down 1.0%

Shares of DASH opened at $191.67 on Wednesday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. DoorDash has a 12-month low of $143.30 and a 12-month high of $269.00. The firm has a market capitalization of $83.05 billion, a PE ratio of 100.35 and a beta of 1.90. The stock's fifty day simple moving average is $204.10 and its 200-day simple moving average is $184.78.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.01). The company had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.34 billion. DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The company's revenue for the quarter was up 35.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.65 EPS. As a group, research analysts predict that DoorDash will post 2.51 earnings per share for the current year.

Insider Buying and Selling

In other DoorDash news, Director Andy Fang sold 5,000 shares of the stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $183.69, for a total value of $918,450.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ravi Inukonda sold 1,017 shares of the stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $195.00, for a total value of $198,315.00. Following the completion of the sale, the chief financial officer owned 217,911 shares of the company's stock, valued at $42,492,645. This trade represents a 0.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 393,998 shares of company stock valued at $85,861,330. 44.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On DoorDash

Large investors have recently modified their holdings of the business. Janus Henderson Group PLC boosted its position in DoorDash by 40.2% during the first quarter. Janus Henderson Group PLC now owns 7,762,553 shares of the company's stock valued at $1,159,377,000 after purchasing an additional 2,225,954 shares during the last quarter. Temasek Holdings Private Ltd boosted its position in DoorDash by 49.4% during the first quarter. Temasek Holdings Private Ltd now owns 3,461,501 shares of the company's stock valued at $519,744,000 after purchasing an additional 1,145,078 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in DoorDash by 2,304.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 3,452,110 shares of the company's stock valued at $633,635,000 after purchasing an additional 3,308,512 shares during the last quarter. Bank of America Corp DE boosted its position in DoorDash by 18.4% during the first quarter. Bank of America Corp DE now owns 3,449,266 shares of the company's stock valued at $517,907,000 after purchasing an additional 536,080 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in DoorDash by 372.0% during the third quarter. Assenagon Asset Management S.A. now owns 3,137,719 shares of the company's stock valued at $575,928,000 after purchasing an additional 2,472,980 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

About DoorDash

DoorDash, Inc NASDAQ: DASH operates a local commerce platform that connects consumers with restaurants, grocery stores, convenience retailers and other merchants. Through its website and mobile applications, customers can browse products, place orders for delivery or pickup, and access related services.

The company provides merchants with ordering, delivery, logistics, marketing and payment tools. Its offerings include the DoorDash Marketplace, subscription programs such as DashPass, and delivery infrastructure that merchants can use through services including DoorDash Drive.