DoorDash (NASDAQ:DASH) Stock Rating Upgraded by Raymond James Financial

DoorDash (NASDAQ:DASH - Get Free Report) was upgraded by investment analysts at Raymond James Financial from an "outperform" rating to a "strong-buy" rating in a research report issued on Monday,Finviz reports. The brokerage presently has a $260.00 target price on the stock. Raymond James Financial's price target suggests a potential upside of 17.94% from the stock's previous close.

DASH has been the topic of several other research reports. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $230.00 price target on shares of DoorDash in a report on Wednesday, May 7th. JMP Securities upped their price objective on shares of DoorDash from $225.00 to $235.00 and gave the stock a "market outperform" rating in a research report on Thursday, June 12th. Needham & Company LLC lifted their target price on shares of DoorDash from $225.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Roth Capital set a $191.00 price target on shares of DoorDash and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Finally, Wedbush reissued an "outperform" rating on shares of DoorDash in a report on Wednesday, May 7th. Eleven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $213.29.

DoorDash Price Performance

NASDAQ DASH opened at $220.46 on Monday. The company's 50 day simple moving average is $200.53 and its two-hundred day simple moving average is $189.43. DoorDash has a 1 year low of $99.32 and a 1 year high of $227.54. The stock has a market capitalization of $93.42 billion, a PE ratio of 286.32 and a beta of 1.67.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.05. The firm had revenue of $3.03 billion for the quarter, compared to analysts' expectations of $3.10 billion. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The business's quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. On average, research analysts anticipate that DoorDash will post 2.22 EPS for the current year.

Insider Activity

In other news, Director Andy Fang sold 30,000 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $217.52, for a total value of $6,525,600.00. Following the completion of the transaction, the director now owns 22,545 shares in the company, valued at $4,903,988.40. This trade represents a 57.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Tony Xu sold 44,244 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $220.71, for a total value of $9,765,093.24. Following the transaction, the chief executive officer now directly owns 520,450 shares of the company's stock, valued at $114,868,519.50. This represents a 7.84% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 327,559 shares of company stock valued at $66,306,707. Company insiders own 5.83% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DASH. Voya Investment Management LLC lifted its position in DoorDash by 215.5% during the 1st quarter. Voya Investment Management LLC now owns 83,640 shares of the company's stock valued at $15,287,000 after acquiring an additional 57,130 shares during the period. Strs Ohio bought a new position in shares of DoorDash during the first quarter valued at approximately $15,752,000. Geneos Wealth Management Inc. lifted its holdings in shares of DoorDash by 14.9% during the first quarter. Geneos Wealth Management Inc. now owns 4,069 shares of the company's stock valued at $744,000 after purchasing an additional 527 shares during the last quarter. IFM Investors Pty Ltd boosted its position in shares of DoorDash by 9.5% in the 1st quarter. IFM Investors Pty Ltd now owns 61,803 shares of the company's stock worth $11,296,000 after purchasing an additional 5,349 shares in the last quarter. Finally, Focus Partners Wealth boosted its position in shares of DoorDash by 251.6% in the 1st quarter. Focus Partners Wealth now owns 9,261 shares of the company's stock worth $1,693,000 after purchasing an additional 6,627 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors.

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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