DoorDash (NASDAQ:DASH) Upgraded to "Buy" at Wall Street Zen

Key Points

• DoorDash has been upgraded from a "hold" rating to a "buy" rating by analysts at Wall Street Zen, reflecting increased optimism about the company's future performance.
• The company's recent quarterly earnings beat expectations, reporting $0.65 earnings per share and $3.28 billion in revenue, marking a 24.9% year-over-year increase.
• Currently, DoorDash has an average rating of "Moderate Buy" and a consensus target price of $275.27, with significant institutional interest as 90.64% of the stock is owned by institutional investors.

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 to clients and investors on Friday.

DASH has been the topic of several other reports. Cantor Fitzgerald reissued an "overweight" rating and set a $330.00 price target on shares of DoorDash in a research report on Wednesday, September 17th. Wedbush reaffirmed a "neutral" rating on shares of DoorDash in a research report on Friday, August 8th. Jefferies Financial Group upped their target price on DoorDash from $250.00 to $265.00 and gave the stock a "hold" rating in a research report on Monday, August 11th. BMO Capital Markets upped their target price on DoorDash from $238.00 to $288.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, Susquehanna upped their target price on DoorDash from $235.00 to $300.00 and gave the stock a "positive" rating in a research report on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, DoorDash currently has an average rating of "Moderate Buy" and a consensus target price of $275.27.

DoorDash Stock Up 0.4%

NASDAQ:DASH traded up $1.13 during trading hours on Friday, hitting $271.22. 2,417,180 shares of the company's stock traded hands, compared to its average volume of 3,176,817. The firm has a market cap of $115.87 billion, a P/E ratio of 150.68 and a beta of 1.71. DoorDash has a twelve month low of $141.26 and a twelve month high of $278.15. 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 stock's fifty day moving average price is $255.52 and its two-hundred day moving average price is $223.92.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.23. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.DoorDash's quarterly revenue was up 24.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.38) earnings per share. On average, research analysts expect that DoorDash will post 2.22 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Andy Fang sold 30,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $268.20, for a total transaction of $8,046,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stanley Tang sold 45,410 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $268.23, for a total value of $12,180,324.30. The disclosure for this sale can be found here. Insiders have sold 1,001,417 shares of company stock worth $249,569,754 over the last 90 days. Company insiders own 5.83% of the company's stock.

Institutional Trading of DoorDash

Hedge funds have recently modified their holdings of the company. GFG Capital LLC bought a new stake in shares of DoorDash in the 2nd quarter worth approximately $30,000. Saudi Central Bank bought a new stake in shares of DoorDash in the 1st quarter worth approximately $25,000. WPG Advisers LLC bought a new stake in shares of DoorDash in the 1st quarter worth approximately $26,000. Pacific Center for Financial Services bought a new stake in shares of DoorDash in the 1st quarter worth approximately $27,000. Finally, Harbour Investments Inc. lifted its position in shares of DoorDash by 55.6% in the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company's stock worth $36,000 after acquiring an additional 70 shares during the period. 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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