DoorDash, Inc. (NASDAQ:DASH) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• DoorDash is currently rated as a "Moderate Buy" by an average of 35 brokerages, with target prices ranging from $210 to $280.
• The company reported $0.65 earnings per share for the last quarter, beating analysts' estimates and showing a year-over-year revenue increase of 24.9%.
• Insider trading activity has seen significant sales, including CEO Tony Xu, who sold 291,403 shares for approximately $69.4 million, reducing his stake by 55.99%.

Shares of DoorDash, Inc. (NASDAQ:DASH - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the thirty-five brokerages that are covering the stock, Marketbeat reports. Thirteen equities research analysts have rated the stock with a hold recommendation, twenty-one have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $271.5455.

Several brokerages have recently commented on DASH. Loop Capital reiterated a "buy" rating on shares of DoorDash in a research note on Tuesday, July 15th. Wall Street Zen downgraded DoorDash from a "buy" rating to a "hold" rating in a research note on Saturday, September 20th. Sanford C. Bernstein lifted their target price on DoorDash from $210.00 to $265.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. UBS Group lifted their target price on DoorDash from $260.00 to $280.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Finally, Zacks Research upgraded DoorDash to a "hold" rating in a research note on Tuesday, August 12th.

DoorDash Price Performance

Shares of DASH opened at $260.74 on Thursday. The company has a market cap of $111.39 billion, a price-to-earnings ratio of 144.86 and a beta of 1.70. DoorDash has a 1-year low of $140.53 and a 1-year high of $278.15. The company's fifty day simple moving average is $251.73 and its 200 day simple moving average is $219.83. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.23. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.16 billion. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The firm's revenue for the quarter was up 24.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.38) earnings per share. On average, research analysts forecast that DoorDash will post 2.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $275.74, for a total transaction of $13,787,000.00. Following the completion of the transaction, the director directly owned 22,545 shares in the company, valued at approximately $6,216,558.30. The trade was a 68.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Tony Xu sold 291,403 shares of DoorDash stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total value of $69,409,280.57. Following the transaction, the chief executive officer owned 229,047 shares of the company's stock, valued at $54,556,704.93. This represents a 55.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,020,055 shares of company stock valued at $250,222,491. 5.83% of the stock is owned by insiders.

Institutional Trading of DoorDash

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in DoorDash by 4.6% in the 2nd quarter. Vanguard Group Inc. now owns 41,190,085 shares of the company's stock valued at $10,153,768,000 after purchasing an additional 1,792,799 shares during the period. State Street Corp boosted its stake in DoorDash by 3.1% in the 2nd quarter. State Street Corp now owns 14,387,499 shares of the company's stock valued at $3,546,662,000 after purchasing an additional 427,722 shares during the period. Geode Capital Management LLC boosted its stake in DoorDash by 2.9% in the 2nd quarter. Geode Capital Management LLC now owns 7,951,230 shares of the company's stock valued at $1,950,711,000 after purchasing an additional 223,188 shares during the period. Invesco Ltd. boosted its stake in DoorDash by 12.0% in the 2nd quarter. Invesco Ltd. now owns 5,375,480 shares of the company's stock valued at $1,325,110,000 after purchasing an additional 575,629 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in DoorDash by 15.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company's stock valued at $897,031,000 after purchasing an additional 641,601 shares during the period. 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.

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