DoorDash (NASDAQ:DASH) Upgraded at Wall Street Zen

DoorDash (NASDAQ:DASH - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. lowered their target price on DoorDash from $205.00 to $175.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Morgan Stanley restated an "overweight" rating and set a $275.00 price objective (up previously from $220.00) on shares of DoorDash in a research report on Monday, July 21st. BTIG Research boosted their target price on shares of DoorDash from $225.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. Bank of America increased their target price on shares of DoorDash from $230.00 to $245.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Finally, UBS Group decreased their price target on shares of DoorDash from $197.00 to $196.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $230.34.

DoorDash Trading Up 2.6%

Shares of NASDAQ:DASH opened at $249.92 on Friday. The company has a 50 day moving average of $226.30 and a 200-day moving average of $200.84. The firm has a market cap of $105.90 billion, a P/E ratio of 324.58 and a beta of 1.70. DoorDash has a twelve month low of $102.81 and a twelve month high of $250.23.

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

Insider Buying and Selling

In related news, COO Prabir Adarkar sold 62,267 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $202.67, for a total value of $12,619,652.89. Following the transaction, the chief operating officer owned 942,554 shares in the company, valued at approximately $191,027,419.18. This represents a 6.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the completion of the sale, the director owned 26,070 shares of the company's stock, valued at $6,274,788.30. This trade represents a 63.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 441,773 shares of company stock worth $98,711,043. Insiders own 5.83% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in DoorDash by 25.8% in the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock worth $7,200,642,000 after purchasing an additional 8,073,882 shares in the last quarter. Capital World Investors boosted its stake in shares of DoorDash by 26.4% during the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company's stock worth $2,038,712,000 after acquiring an additional 2,538,160 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of DoorDash by 15.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company's stock valued at $897,031,000 after acquiring an additional 641,601 shares during the last quarter. Invesco Ltd. increased its holdings in shares of DoorDash by 41.9% during the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock valued at $877,269,000 after acquiring an additional 1,416,194 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of DoorDash by 25.0% in the 4th quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company's stock valued at $796,781,000 after acquiring an additional 949,414 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.

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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