DoorDash, Inc. (NASDAQ:DASH) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• DoorDash has received an average recommendation of "Moderate Buy" from thirty-seven brokerages, with the average 12-month price target at approximately $282.91.
• The company reported $0.65 earnings per share in its latest quarter, exceeding analysts’ expectations, alongside a revenue of $3.28 billion, which is a 24.9% increase year-over-year.
• Insider trading activity includes significant stock sales by both the COO and CEO, with more than 993,105 shares sold in the last 90 days valued at over $248 million.

Shares of DoorDash, Inc. (NASDAQ:DASH - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the thirty-seven brokerages that are covering the company, Marketbeat reports. Twelve investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $282.9118.

Several equities analysts have recently commented on DASH shares. Piper Sandler upped their price target on DoorDash from $210.00 to $290.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of DoorDash in a research note on Wednesday, October 8th. Needham & Company LLC set a $300.00 price target on DoorDash and gave the company a "buy" rating in a research note on Thursday, August 7th. KeyCorp reaffirmed an "overweight" rating and issued a $325.00 price target (up previously from $295.00) on shares of DoorDash in a research note on Thursday, August 7th. Finally, Oppenheimer upped their price target on DoorDash from $310.00 to $350.00 and gave the company an "outperform" rating in a research note on Thursday.

DoorDash Stock Performance

NASDAQ DASH opened at $263.06 on Monday. The stock's fifty day moving average is $259.31 and its two-hundred day moving average is $230.24. The firm has a market capitalization of $112.38 billion, a P/E ratio of 146.15 and a beta of 1.71. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. DoorDash has a fifty-two week low of $150.26 and a fifty-two week high of $285.50.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings data 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 company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The firm's revenue for the quarter was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.38) earnings per share. On average, research analysts anticipate that DoorDash will post 2.22 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Prabir Adarkar sold 41,881 shares of the company's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $245.82, for a total value of $10,295,187.42. Following the transaction, the chief operating officer owned 914,547 shares of the company's stock, valued at $224,813,943.54. This represents a 4.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Tony Xu sold 291,403 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $238.19, for a total value of $69,409,280.57. Following the completion of the transaction, the chief executive officer directly owned 229,047 shares in the company, valued at approximately $54,556,704.93. This trade represents a 55.99% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 993,105 shares of company stock worth $248,566,566. Company insiders own 5.83% of the company's stock.

Institutional Investors Weigh In On DoorDash

Several institutional investors and hedge funds have recently modified their holdings of DASH. Saudi Central Bank purchased a new stake in shares of DoorDash in the 1st quarter valued at $25,000. WPG Advisers LLC purchased a new stake in shares of DoorDash in the 1st quarter valued at $26,000. Pacific Center for Financial Services purchased a new stake in shares of DoorDash in the 1st quarter valued at $27,000. GFG Capital LLC purchased a new stake in shares of DoorDash in the 2nd quarter valued at $30,000. Finally, Harbour Investments Inc. raised its holdings in shares of DoorDash by 55.6% in the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company's stock valued at $36,000 after buying an additional 70 shares during the period. Hedge funds and other institutional investors own 90.64% of the company's stock.

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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