DoorDash's (DASH) Neutral Rating Reiterated at Wedbush

Key Points

• Wedbush reiterated a neutral rating on DoorDash and set a $205 price target, implying about 7.8% upside from the prior close.
• Other analysts remain generally constructive: DoorDash has a consensus “Moderate Buy” rating and an average price target of $252.89, with several firms recently raising or reaffirming positive views.
• DoorDash reported Q1 EPS of $0.42, beating expectations, while revenue came in at $4.04 billion, below estimates; the stock was up about 1.3% in Thursday trading.

DoorDash (NASDAQ:DASH - Get Free Report)'s stock had its "neutral" rating reaffirmed by research analysts at Wedbush in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $205.00 target price on the stock. Wedbush's price target suggests a potential upside of 7.80% from the company's previous close.

Several other equities research analysts have also issued reports on DASH. Jefferies Financial Group upped their price target on DoorDash from $220.00 to $225.00 and gave the company a "buy" rating in a research report on Tuesday. Rothschild & Co Redburn set a $350.00 price objective on shares of DoorDash in a report on Tuesday, May 12th. Zacks Research upgraded shares of DoorDash from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 12th. Citigroup reissued a "market outperform" rating on shares of DoorDash in a report on Monday, June 22nd. Finally, Argus set a $190.00 price target on shares of DoorDash in a report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $252.89.

DoorDash Stock Up 1.3%

NASDAQ:DASH opened at $190.16 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43. The company has a market capitalization of $82.86 billion, a price-to-earnings ratio of 90.55 and a beta of 1.78. DoorDash has a one year low of $143.30 and a one year high of $285.50. The stock has a 50-day simple moving average of $169.05 and a 200 day simple moving average of $177.96.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. The firm had revenue of $4.04 billion for the quarter, compared to analysts' expectations of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.DoorDash's revenue for the quarter was up 33.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 earnings per share. Sell-side analysts predict that DoorDash will post 2.4 EPS for the current fiscal year.

Insider Activity at DoorDash

In related news, Director Stanley Tang sold 23,125 shares of the company's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $191.19, for a total value of $4,421,268.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 21,739 shares of the firm's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total transaction of $3,374,979.75. Following the transaction, the chief operating officer directly owned 959,076 shares in the company, valued at approximately $148,896,549. The trade was a 2.22% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 84,927 shares of company stock worth $15,124,932 in the last ninety days. 5.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Eastern Bank lifted its position in DoorDash by 714.3% in the fourth quarter. Eastern Bank now owns 114 shares of the company's stock worth $26,000 after purchasing an additional 100 shares during the period. MV Capital Management Inc. acquired a new position in shares of DoorDash during the 4th quarter valued at $26,000. Swiss RE Ltd. bought a new stake in shares of DoorDash in the 4th quarter worth $28,000. ST Germain D J Co. Inc. bought a new stake in shares of DoorDash in the 4th quarter worth $29,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of DoorDash in the fourth quarter valued at $32,000. 90.64% of the stock is currently owned by institutional investors.

DoorDash Company Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company's core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.

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