DoorDash (NASDAQ:DASH) Given "Overweight" Rating at Cantor Fitzgerald

DoorDash (NASDAQ:DASH - Get Free Report)'s stock had its "overweight" rating restated by equities researchers at Cantor Fitzgerald in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $210.00 target price on the stock. Cantor Fitzgerald's price target indicates a potential upside of 14.33% from the stock's current price.

A number of other brokerages have also recently weighed in on DASH. Royal Bank of Canada reiterated an "outperform" rating on shares of DoorDash in a research note on Tuesday, April 29th. Wells Fargo & Company increased their price target on shares of DoorDash from $198.00 to $201.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 3rd. Needham & Company LLC lifted their price objective on shares of DoorDash from $225.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday. JMP Securities reiterated a "market outperform" rating and set a $225.00 target price on shares of DoorDash in a research note on Monday, April 28th. Finally, Barclays boosted their price target on DoorDash from $163.00 to $200.00 and gave the company an "equal weight" rating in a research report on Thursday, February 13th. Ten analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $210.97.

DoorDash Price Performance

Shares of DoorDash stock traded down $6.43 during trading hours on Wednesday, hitting $183.68. The company had a trading volume of 955,244 shares, compared to its average volume of 4,158,925. The company's 50-day moving average is $185.53 and its two-hundred day moving average is $180.23. The company has a market cap of $77.16 billion, a P/E ratio of 684.17 and a beta of 1.68. DoorDash has a twelve month low of $99.32 and a twelve month high of $215.25.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. DoorDash had a net margin of 1.15% and a return on equity of 1.67%. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. DoorDash's revenue for the quarter was up 20.7% on a year-over-year basis. Sell-side analysts expect that DoorDash will post 2.22 EPS for the current year.

Insider Buying and Selling

In related news, CFO Ravi Inukonda sold 15,198 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $204.11, for a total value of $3,102,063.78. Following the completion of the transaction, the chief financial officer now owns 351,970 shares of the company's stock, valued at approximately $71,840,596.70. The trade was a 4.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andy Fang sold 1,398 shares of the business's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total value of $284,423.10. Following the completion of the transaction, the director now owns 14,778 shares of the company's stock, valued at $3,006,584.10. This trade represents a 8.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 158,573 shares of company stock worth $30,407,073 in the last ninety days. Insiders own 7.92% of the company's stock.

Institutional Investors Weigh In On DoorDash

Several hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of DoorDash in the 4th quarter valued at $597,443,000. Capital World Investors boosted its holdings 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 acquiring an additional 2,538,160 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in DoorDash by 67.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company's stock worth $780,858,000 after acquiring an additional 1,869,866 shares during the last quarter. Franklin Resources Inc. increased its stake in DoorDash by 25.0% during the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company's stock worth $796,781,000 after acquiring an additional 949,414 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of DoorDash in the 4th quarter worth about $146,094,000. 90.64% of the stock is 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.

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