DoorDash (NASDAQ:DASH) Upgraded to "Strong-Buy" at Raymond James Financial

DoorDash (NASDAQ:DASH - Get Free Report) was upgraded by Raymond James Financial from an "outperform" rating to a "strong-buy" rating in a research note issued to investors on Monday, Marketbeat reports. The brokerage currently has a $260.00 target price on the stock, up from their prior target price of $215.00. Raymond James Financial's price target would suggest a potential upside of 8.50% from the company's previous close.

Several other brokerages also recently issued reports on DASH. JMP Securities boosted their price target on shares of DoorDash from $225.00 to $235.00 and gave the company a "market outperform" rating in a report on Thursday, June 12th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $230.00 price target on shares of DoorDash in a research report on Wednesday, May 7th. Morgan Stanley lowered their price objective on shares of DoorDash from $245.00 to $210.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Cantor Fitzgerald reissued an "overweight" rating and set a $210.00 target price on shares of DoorDash in a research report on Wednesday, May 7th. Finally, FBN Securities assumed coverage on DoorDash in a report on Friday, March 28th. They issued an "outperform" rating and a $230.00 target price on the stock. Eleven analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $214.76.

DoorDash Trading Up 3.0%

NASDAQ:DASH traded up $6.96 on Monday, hitting $239.64. 3,200,901 shares of the stock were exchanged, compared to its average volume of 4,231,166. The stock has a fifty day moving average of $203.65 and a 200-day moving average of $190.41. The stock has a market cap of $101.55 billion, a PE ratio of 311.22 and a beta of 1.67. DoorDash has a fifty-two week low of $99.32 and a fifty-two week high of $240.38.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.05. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period in the previous year, the company earned ($0.06) earnings per share. The company's revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, analysts predict that DoorDash will post 2.22 earnings per share for the current year.

Insider Activity at DoorDash

In other news, Director Stanley Tang sold 45,410 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $181.21, for a total transaction of $8,228,746.10. Following the sale, the director now directly owns 18,285 shares in the company, valued at $3,313,424.85. This represents a 71.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Keith Yandell sold 5,410 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $204.53, for a total transaction of $1,106,507.30. Following the completion of the transaction, the insider now directly owns 104,922 shares of the company's stock, valued at approximately $21,459,696.66. The trade was a 4.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 333,552 shares of company stock worth $67,677,166. Insiders own 5.83% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DASH. AG2R LA Mondiale Gestion D Actifs purchased a new position in shares of DoorDash during the 1st quarter valued at about $2,430,000. Swedbank AB raised its stake in shares of DoorDash by 8.1% during the first quarter. Swedbank AB now owns 184,849 shares of the company's stock worth $33,785,000 after acquiring an additional 13,794 shares in the last quarter. Voya Investment Management LLC lifted its holdings in shares of DoorDash by 215.5% in the 1st quarter. Voya Investment Management LLC now owns 83,640 shares of the company's stock worth $15,287,000 after acquiring an additional 57,130 shares during the last quarter. Strs Ohio bought a new position in shares of DoorDash during the 1st quarter valued at $15,752,000. Finally, Geneos Wealth Management Inc. raised its position in DoorDash by 14.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,069 shares of the company's stock worth $744,000 after purchasing an additional 527 shares during the period. 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.