DoorDash's (DASH) "Buy" Rating Reaffirmed at BTIG Research

Key Points

• BTIG Research reaffirmed a "Buy" rating for DoorDash (DASH) with a price target of $315.00, indicating a potential upside of 19.74% from its current price.
• Recent reports showed an increase in price targets from various analysts, with Sanford C. Bernstein raising theirs to $265.00, and Roth Capital to $225.00, along with others adjusting their ratings.
• Insider selling has occurred, with CEO Tony Xu selling over 291,000 shares, reflecting a significant 55.99% decrease in his position, as part of broader insider transactions involving nearly 1 million shares sold recently.

DoorDash (NASDAQ:DASH - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at BTIG Research in a report released on Monday,Benzinga reports. They currently have a $315.00 price objective on the stock. BTIG Research's price objective would suggest a potential upside of 19.74% from the company's current price.

A number of other research analysts also recently issued reports on DASH. Sanford C. Bernstein boosted their price target on DoorDash from $210.00 to $265.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Roth Capital lifted their price objective on DoorDash from $191.00 to $225.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Zacks Research raised DoorDash from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 13th. DA Davidson lifted their price objective on DoorDash from $190.00 to $260.00 and gave the company a "neutral" rating in a research report on Wednesday, September 10th. Finally, Truist Financial lifted their price objective on DoorDash from $272.00 to $326.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Four analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, DoorDash currently has a consensus rating of "Moderate Buy" and a consensus target price of $284.38.

DoorDash Stock Down 1.4%

DASH opened at $263.06 on Monday. The company has a market cap of $112.38 billion, a P/E ratio of 146.15 and a beta of 1.71. The business's 50-day moving average price is $259.31 and its 200-day moving average price is $230.24. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. DoorDash has a 12 month low of $150.26 and a 12 month high of $285.50.

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

Insiders Place Their Bets

In related news, CEO Tony Xu sold 291,403 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total value of $69,409,280.57. Following the transaction, the chief executive officer directly owned 229,047 shares of the company's stock, valued at approximately $54,556,704.93. This represents a 55.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $275.74, for a total value of $13,787,000.00. Following the completion of the transaction, the director directly owned 22,545 shares in the company, valued at $6,216,558.30. This trade represents a 68.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 993,105 shares of company stock valued at $248,566,566. Insiders own 5.83% of the company's stock.

Institutional Investors Weigh In On DoorDash

A number of hedge funds have recently added to or reduced their stakes in the stock. Fort Washington Investment Advisors Inc. OH raised its stake in DoorDash by 39.0% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 33,583 shares of the company's stock valued at $9,134,000 after buying an additional 9,427 shares during the last quarter. Retireful LLC purchased a new stake in shares of DoorDash in the 3rd quarter worth $344,000. Traveka Wealth LLC purchased a new stake in shares of DoorDash in the 3rd quarter worth $207,000. Three Seasons Wealth LLC purchased a new stake in shares of DoorDash in the 3rd quarter worth $1,042,000. Finally, Perigon Wealth Management LLC increased its stake in shares of DoorDash by 76.4% in the 3rd quarter. Perigon Wealth Management LLC now owns 6,530 shares of the company's stock worth $1,776,000 after purchasing an additional 2,829 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other 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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