Barclays Issues Positive Forecast for DoorDash (NASDAQ:DASH) Stock Price

Key Points

• Barclays raised DoorDash’s price target from $220 to $230 while maintaining an “equal weight” rating, implying 10.97% potential upside. MarketBeat reports a broader consensus “Moderate Buy” rating and $254.58 target.
• DoorDash’s revenue rose 35.6% year over year to $4.45 billion, exceeding estimates, although quarterly EPS of $0.46 narrowly missed the $0.47 consensus.
• Director Stanley Tang sold 67,693 shares worth approximately $13.6 million under a pre-arranged trading plan; insiders sold 142,620 shares valued at $26.8 million over the past 90 days.

DoorDash (NASDAQ:DASH - Get Free Report) had its target price lifted by Barclays from $220.00 to $230.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's price target would indicate a potential upside of 10.97% from the stock's previous close.

Several other research firms also recently issued reports on DASH. Rothschild & Co Redburn set a $350.00 price target on shares of DoorDash in a research note on Tuesday, May 12th. Weiss Ratings upgraded DoorDash from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, May 13th. Needham & Company LLC reaffirmed a "buy" rating and set a $265.00 target price on shares of DoorDash in a research report on Thursday. Zacks Research lowered DoorDash from a "hold" rating to a "strong sell" rating in a research report on Friday, July 17th. Finally, KeyCorp cut their target price on DoorDash from $280.00 to $275.00 and set an "overweight" rating on the stock in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $254.58.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $207.27 on Thursday. The firm has a 50 day moving average of $178.38 and a 200-day moving average of $174.43. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27. DoorDash has a 12 month low of $143.30 and a 12 month high of $285.50. The stock has a market capitalization of $90.31 billion, a PE ratio of 98.70 and a beta of 1.78.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.01). The company had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.34 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.DoorDash'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 earned $0.65 earnings per share. On average, equities research analysts predict that DoorDash will post 2.38 EPS for the current fiscal year.

Insider Transactions at DoorDash

In other DoorDash news, Director Stanley Tang sold 67,693 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $200.63, for a total transaction of $13,581,246.59. Following the transaction, the director directly owned 40,218 shares in the company, valued at approximately $8,068,937.34. This represents a 62.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Tia Sherringham sold 2,743 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $160.79, for a total transaction of $441,046.97. Following the sale, the general counsel directly owned 128,216 shares of the company's stock, valued at approximately $20,615,850.64. This trade represents a 2.09% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 142,620 shares of company stock valued at $26,822,778. 5.28% of the stock is owned by insiders.

Institutional Investors Weigh In On DoorDash

Large investors have recently bought and sold shares of the stock. Brighton Jones LLC boosted its position in shares of DoorDash by 24.0% during the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after purchasing an additional 1,807 shares in the last quarter. Integrated Wealth Concepts LLC raised its stake in DoorDash by 21.5% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,715 shares of the company's stock worth $314,000 after buying an additional 303 shares during the period. Empowered Funds LLC raised its stake in DoorDash by 3.6% during the 1st quarter. Empowered Funds LLC now owns 8,130 shares of the company's stock worth $1,486,000 after buying an additional 285 shares during the period. Sivia Capital Partners LLC raised its stake in DoorDash by 92.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,255 shares of the company's stock worth $1,049,000 after buying an additional 2,049 shares during the period. Finally, Baird Financial Group Inc. bought a new position in DoorDash in the second quarter worth approximately $222,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash News Summary

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Analyst optimism increased: Cantor Fitzgerald raised its price target from $230 to $260 and assigned an “overweight” rating. Needham reaffirmed a “buy” rating with a $265 target, while BTIG maintained its “buy” rating with a $225 target. These targets imply meaningful potential appreciation from recent trading levels. Analyst rating updates
• Positive Sentiment: Revenue and demand remained strong: Second-quarter revenue increased 35.6% year over year to $4.45 billion, exceeding the $4.34 billion consensus estimate. DoorDash cited continued growth in its marketplaces, membership programs and monthly active users, while demand remained firm across food, grocery and convenience deliveries. DoorDash second-quarter results
• Positive Sentiment: Forward guidance exceeded expectations: DoorDash issued stronger third-quarter forecasts, suggesting that delivery demand and marketplace growth are holding up despite broader economic uncertainty. DoorDash guidance
• Positive Sentiment: Drone delivery expansion advanced: DoorDash received FAA approval for commercial drone deliveries, potentially improving delivery economics and expanding its logistics capabilities over time. DoorDash FAA drone approval

DoorDash Company Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company's core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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