DoorDash (NASDAQ:DASH) Upgraded by Guggenheim to "Strong-Buy" Rating

Key Points

• DoorDash has been upgraded to a "strong-buy" rating by Guggenheim, reflecting positive sentiment among analysts regarding the company's stock.
• The average rating for DoorDash is currently "Moderate Buy," with a consensus price target of $281.29, indicating potential for further growth.
• DoorDash reported $3.28 billion in revenue for the last quarter, exceeding analyst expectations and showing a 24.9% increase compared to the same period last year.

DoorDash (NASDAQ:DASH - Get Free Report) was upgraded by analysts at Guggenheim to a "strong-buy" rating in a research report issued on Wednesday,Zacks.com reports.

DASH has been the subject of several other reports. Wall Street Zen upgraded shares of DoorDash from a "hold" rating to a "buy" rating in a research note on Saturday, October 11th. Raymond James Financial reiterated a "strong-buy" rating and issued a $325.00 price target (up from $275.00) on shares of DoorDash in a research note on Thursday, August 7th. JPMorgan Chase & Co. upgraded shares of DoorDash from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $175.00 to $325.00 in a research note on Tuesday. Loop Capital reiterated a "buy" rating on shares of DoorDash in a research note on Tuesday, July 15th. Finally, Stifel Nicolaus increased their price target on shares of DoorDash from $214.00 to $239.00 and gave the stock a "hold" rating in a research note on Thursday, August 7th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $281.29.

DoorDash Trading Up 0.8%

NASDAQ:DASH opened at $272.61 on Wednesday. The company has a 50-day moving average price of $259.32 and a 200-day moving average price of $228.44. DoorDash has a 12 month low of $147.31 and a 12 month high of $285.08. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. The stock has a market cap of $116.46 billion, a price-to-earnings ratio of 151.45 and a beta of 1.71.

DoorDash (NASDAQ:DASH - Get Free Report) last posted 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. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The firm had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.16 billion. During the same period last year, the company posted ($0.38) EPS. The company's quarterly revenue was up 24.9% compared to the same quarter last year. Equities analysts predict that DoorDash will post 2.22 EPS for the current year.

Insider Transactions at DoorDash

In related news, Director Shona L. Brown sold 1,250 shares of the firm's 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 transaction, the director owned 37,252 shares of the company's stock, valued at approximately $10,336,312.44. This trade represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Tony Xu sold 34,166 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $268.24, for a total transaction of $9,164,687.84. Following the completion of the transaction, the chief executive officer directly owned 520,450 shares in the company, valued at approximately $139,605,508. The trade was a 6.16% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 968,137 shares of company stock valued at $241,767,280. Company insiders own 5.83% of the company's stock.

Hedge Funds Weigh In On DoorDash

Large investors have recently added to or reduced their stakes in the company. Gilbert & Cook Inc. lifted its stake in DoorDash by 2.6% in the 2nd quarter. Gilbert & Cook Inc. now owns 1,685 shares of the company's stock worth $415,000 after purchasing an additional 42 shares in the last quarter. Perigon Wealth Management LLC lifted its position in shares of DoorDash by 1.3% in the second quarter. Perigon Wealth Management LLC now owns 3,701 shares of the company's stock worth $912,000 after buying an additional 46 shares in the last quarter. Advisory Resource Group lifted its position in shares of DoorDash by 0.8% in the second quarter. Advisory Resource Group now owns 5,774 shares of the company's stock worth $1,423,000 after buying an additional 48 shares in the last quarter. Quotient Wealth Partners LLC lifted its position in shares of DoorDash by 3.2% in the third quarter. Quotient Wealth Partners LLC now owns 1,537 shares of the company's stock worth $418,000 after buying an additional 48 shares in the last quarter. Finally, Hobart Private Capital LLC lifted its position in shares of DoorDash by 2.4% in the third quarter. Hobart Private Capital LLC now owns 2,164 shares of the company's stock worth $589,000 after buying an additional 50 shares in the last quarter. Hedge funds and other institutional investors 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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