DoorDash (NASDAQ:DASH) Given "Hold (C)" Rating at Weiss Ratings

Key Points

• DoorDash's stock received a "hold (C)" rating from Weiss Ratings, while other firms like Morgan Stanley and Roth Capital have set higher price targets, reflecting mixed analyst opinions.
• The company reported a quarterly earnings per share (EPS) of $0.65, surpassing estimates and showing a 24.9% increase in revenue compared to the previous year.
• Insider activity includes CEO Tony Xu selling over 34,000 shares, reflecting a 6.16% reduction in his ownership, while institutional investors now hold about 90.64% of the stock.

DoorDash (NASDAQ:DASH - Get Free Report)'s stock had its "hold (c)" rating restated by equities researchers at Weiss Ratings in a research note issued to investors on Friday,Weiss Ratings reports.

Several other brokerages have also issued reports on DASH. Morgan Stanley lifted their price objective on shares of DoorDash from $300.00 to $330.00 and gave the company an "overweight" rating in a report on Monday. Roth Capital lifted their price target on shares of DoorDash from $191.00 to $225.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Zacks Research raised shares of DoorDash from a "hold" rating to a "strong-buy" rating in a report on Monday, October 13th. Piper Sandler lifted their price target on shares of DoorDash from $210.00 to $290.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Finally, Loop Capital reaffirmed a "buy" rating on shares of DoorDash in a report on Tuesday, July 15th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, DoorDash has an average rating of "Moderate Buy" and a consensus price target of $287.79.

DoorDash Stock Performance

Shares of DASH stock opened at $258.15 on Friday. The firm has a market cap of $110.28 billion, a price-to-earnings ratio of 143.42 and a beta of 1.71. The company's 50 day moving average is $259.75 and its 200 day moving average is $232.56. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. DoorDash has a 52-week low of $152.26 and a 52-week high of $285.50.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 6.57% and a return on equity of 9.56%. DoorDash's revenue was up 24.9% compared to the same quarter last year. During the same period last year, the company posted ($0.38) earnings per share. On average, sell-side analysts anticipate that DoorDash will post 2.22 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In other news, CEO Tony Xu sold 34,166 shares of DoorDash stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $268.24, for a total transaction of $9,164,687.84. Following the completion of the sale, the chief executive officer directly owned 520,450 shares in the company, valued at approximately $139,605,508. The trade was a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Ravi Inukonda sold 1,425 shares of DoorDash stock in a transaction on Monday, October 20th. The stock was sold at an average price of $263.86, for a total transaction of $376,000.50. Following the sale, the chief financial officer owned 214,147 shares of the company's stock, valued at $56,504,827.42. The trade was a 0.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 932,156 shares of company stock valued at $233,565,302. Company insiders own 5.83% of the company's stock.

Institutional Investors Weigh In On DoorDash

Institutional investors and hedge funds have recently made changes to their positions in the stock. Night Squared LP acquired a new stake in shares of DoorDash during the first quarter worth $2,780,000. Mutual of America Capital Management LLC acquired a new position in shares of DoorDash in the first quarter worth about $7,200,000. Public Investment Fund raised its position in shares of DoorDash by 68.3% in the first quarter. Public Investment Fund now owns 821,389 shares of the company's stock worth $150,125,000 after acquiring an additional 333,369 shares during the period. Ardmore Road Asset Management LP increased its stake in shares of DoorDash by 6.7% during the first quarter. Ardmore Road Asset Management LP now owns 80,000 shares of the company's stock worth $14,622,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Junto Capital Management LP purchased a new stake in shares of DoorDash during the first quarter worth about $29,261,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.