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

Key Points

• DoorDash has received a consensus rating of "Moderate Buy" from 35 analysts, with the average one-year price target set at $235.56.
• DoorDash's stock recently opened at $255.28 but has seen a 1.1% decline, with a market cap of $108.17 billion.
• Insider trading activity has been notable, with Director Stanley Tang selling 45,410 shares, a significant decrease of 63.53% in his ownership.

DoorDash, Inc. (NASDAQ:DASH - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the thirty-five analysts that are presently covering the firm, Marketbeat reports. Eleven analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $235.5588.

DASH has been the subject of a number of recent research reports. Needham & Company LLC raised their price target on shares of DoorDash from $225.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Wells Fargo & Company lifted their target price on shares of DoorDash from $198.00 to $239.00 and gave the company an "equal weight" rating in a report on Monday, July 7th. UBS Group lifted their price target on shares of DoorDash from $196.00 to $260.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. dropped their price target on shares of DoorDash from $205.00 to $175.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Finally, DA Davidson lifted their target price on shares of DoorDash from $150.00 to $190.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th.

DoorDash Stock Down 1.1%

Shares of DoorDash stock opened at $255.28 on Wednesday. The firm has a market capitalization of $108.17 billion, a P/E ratio of 331.54 and a beta of 1.70. The company has a 50 day moving average price of $232.69 and a 200 day moving average price of $204.86. DoorDash has a 52 week low of $120.91 and a 52 week high of $259.87.

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

Insider Buying and Selling

In other news, Director Stanley Tang sold 45,410 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the completion of the transaction, the director directly owned 26,070 shares of the company's stock, valued at approximately $6,274,788.30. The trade was a 63.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Prabir Adarkar sold 62,267 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $202.67, for a total value of $12,619,652.89. Following the transaction, the chief operating officer directly owned 942,554 shares of the company's stock, valued at approximately $191,027,419.18. This represents a 6.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 583,537 shares of company stock valued at $133,720,004. Corporate insiders own 5.83% of the company's stock.

Hedge Funds Weigh In On DoorDash

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in DoorDash by 25.8% in the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock valued at $7,200,642,000 after purchasing an additional 8,073,882 shares in the last quarter. Capital World Investors boosted its holdings in shares of 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 acquiring an additional 2,538,160 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of DoorDash by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company's stock valued at $897,031,000 after acquiring an additional 641,601 shares during the period. Invesco Ltd. boosted its holdings in shares of DoorDash by 41.9% in the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock valued at $877,269,000 after acquiring an additional 1,416,194 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of DoorDash by 38.2% in the first quarter. Northern Trust Corp now owns 3,309,237 shares of the company's stock valued at $604,829,000 after acquiring an additional 915,512 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Company Profile

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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