Cantor Fitzgerald Reiterates Overweight Rating for DoorDash (NASDAQ:DASH)

Cantor Fitzgerald reissued their overweight rating on shares of DoorDash (NASDAQ:DASH - Free Report) in a report released on Wednesday, Marketbeat reports. The brokerage currently has a $260.00 price target on the stock, up from their previous price target of $210.00. Cantor Fitzgerald also issued estimates for DoorDash's FY2025 earnings at $1.71 EPS and FY2026 earnings at $2.78 EPS.

Other equities research analysts have also recently issued research reports about the company. Oppenheimer reaffirmed a "hold" rating on shares of DoorDash in a research note on Monday, March 10th. Wall Street Zen raised shares of DoorDash from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Wells Fargo & Company reduced their price objective on DoorDash from $201.00 to $198.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th. Stifel Nicolaus set a $198.00 price objective on shares of DoorDash and gave the company a "hold" rating in a report on Tuesday, June 10th. Finally, Wedbush reiterated an "outperform" rating on shares of DoorDash in a report on Wednesday, May 7th. Eleven investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, DoorDash presently has an average rating of "Moderate Buy" and an average target price of $214.76.

DoorDash Stock Up 3.0%

NASDAQ DASH traded up $6.96 on Wednesday, hitting $239.64. The company's stock had a trading volume of 3,200,901 shares, compared to its average volume of 4,231,166. The company's 50-day moving average is $203.65 and its 200 day moving average is $190.41. The firm has a market cap of $101.55 billion, a PE ratio of 302.18 and a beta of 1.67. DoorDash has a 1-year low of $99.32 and a 1-year high of $240.38.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.05. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period in the previous year, the firm earned ($0.06) earnings per share. The firm's quarterly revenue was up 20.7% on a year-over-year basis. On average, equities analysts expect that DoorDash will post 2.22 EPS for the current year.

Insider Activity at DoorDash

In related news, Director Andy Fang sold 30,000 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $217.52, for a total transaction of $6,525,600.00. Following the sale, the director now owns 22,545 shares of the company's stock, valued at approximately $4,903,988.40. This represents a 57.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Ravi Inukonda sold 1,425 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $231.70, for a total transaction of $330,172.50. Following the transaction, the chief financial officer now owns 265,530 shares of the company's stock, valued at $61,523,301. This trade represents a 0.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 333,552 shares of company stock worth $67,677,166. 5.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DoorDash

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of DoorDash by 25.8% during the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock worth $7,200,642,000 after purchasing an additional 8,073,882 shares in the last quarter. Norges Bank purchased a new position in DoorDash in the 4th quarter worth approximately $597,443,000. Capital World Investors lifted its position in DoorDash by 26.4% in the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company's stock valued at $2,038,712,000 after purchasing an additional 2,538,160 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of DoorDash by 67.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company's stock valued at $780,858,000 after purchasing an additional 1,869,866 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of DoorDash by 442.5% in the first quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company's stock worth $321,799,000 after purchasing an additional 1,497,636 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

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.