DoorDash (NASDAQ:DASH) Reaches New 12-Month High Following Analyst Upgrade

Key Points

• DoorDash shares reached a new 52-week high of $285.50 after Guggenheim upgraded the stock to a strong-buy rating, with a last traded price of $282.12.
• The consensus rating for DoorDash among analysts is "Moderate Buy", with 21 analysts giving a Buy rating and an average target price of $281.29.
• Insider transactions have seen significant sales, with directors selling over 968,000 shares valued at approximately $241.8 million in the last three months.

Shares of DoorDash, Inc. (NASDAQ:DASH - Get Free Report) hit a new 52-week high during mid-day trading on Thursday after Guggenheim upgraded the stock to a strong-buy rating. The stock traded as high as $285.50 and last traded at $282.12, with a volume of 237051 shares trading hands. The stock had previously closed at $272.61.

A number of other equities analysts have also issued reports on the company. Citigroup reissued an "outperform" rating on shares of DoorDash in a report on Thursday, August 7th. Morgan Stanley lifted their price objective on DoorDash from $275.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. JMP Securities lifted their price objective on DoorDash from $250.00 to $335.00 and gave the company a "market outperform" rating in a report on Thursday, August 7th. Zacks Research raised DoorDash from a "hold" rating to a "strong-buy" rating in a report on Monday. Finally, Wall Street Zen raised DoorDash from a "hold" rating to a "buy" rating in a report on Saturday, October 11th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $281.29.

Insider Buying and Selling

In other DoorDash news, Director Andy Fang sold 30,000 shares of the firm's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $268.20, for a total value of $8,046,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Shona L. Brown sold 1,250 shares of DoorDash stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $277.47, for a total value of $346,837.50. Following the sale, the director directly owned 37,252 shares in the company, valued at approximately $10,336,312.44. This trade represents a 3.25% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 968,137 shares of company stock valued at $241,767,280. 5.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DASH. Gilbert & Cook Inc. grew its position in DoorDash by 2.6% in the second quarter. Gilbert & Cook Inc. now owns 1,685 shares of the company's stock worth $415,000 after buying an additional 42 shares during the last quarter. Perigon Wealth Management LLC boosted its stake in DoorDash by 1.3% in the 2nd quarter. Perigon Wealth Management LLC now owns 3,701 shares of the company's stock worth $912,000 after purchasing an additional 46 shares during the period. Advisory Resource Group boosted its stake in DoorDash by 0.8% in the 2nd quarter. Advisory Resource Group now owns 5,774 shares of the company's stock worth $1,423,000 after purchasing an additional 48 shares during the period. Quotient Wealth Partners LLC boosted its stake in DoorDash by 3.2% in the 3rd quarter. Quotient Wealth Partners LLC now owns 1,537 shares of the company's stock worth $418,000 after purchasing an additional 48 shares during the period. Finally, Hobart Private Capital LLC boosted its stake in shares of DoorDash by 2.4% during the 3rd quarter. Hobart Private Capital LLC now owns 2,164 shares of the company's stock valued at $589,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 90.64% of the company's stock.

DoorDash Stock Performance

The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. The firm's 50 day moving average is $259.32 and its 200-day moving average is $228.44. The firm has a market cap of $120.94 billion, a price-to-earnings ratio of 156.70 and a beta of 1.71.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.42 by $0.23. The firm 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 business's quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.38) EPS. Sell-side analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

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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