DoorDash (NASDAQ:DASH) Earns "Overweight" Rating from Cantor Fitzgerald

Key Points

• Cantor Fitzgerald reiterated an "overweight" rating for DoorDash (DASH) and set a price target of $330.00, suggesting a potential upside of 25.61% from the current price.
• DoorDash posted strong quarterly earnings, reporting a 24.9% year-over-year revenue increase and beating EPS estimates by $0.23.
• Insiders have recently sold a significant amount of stock, with total sales reaching approximately $238 million over the last ninety days, indicating changes in insider confidence or strategy.

DoorDash (NASDAQ:DASH - Get Free Report)'s stock had its "overweight" rating reaffirmed by stock analysts at Cantor Fitzgerald in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $330.00 target price on the stock. Cantor Fitzgerald's price objective points to a potential upside of 24.39% from the stock's current price. Cantor Fitzgerald also issued estimates for DoorDash's FY2025 earnings at $2.06 EPS and FY2026 earnings at $2.82 EPS.

Other equities research analysts have also issued reports about the company. Piper Sandler upped their price target on DoorDash from $210.00 to $290.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Truist Financial increased their price objective on shares of DoorDash from $272.00 to $326.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Susquehanna raised their target price on shares of DoorDash from $235.00 to $300.00 and gave the stock a "positive" rating in a report on Monday, August 11th. Citigroup reissued an "outperform" rating on shares of DoorDash in a report on Thursday, August 7th. Finally, Sanford C. Bernstein raised their target price on shares of DoorDash from $210.00 to $265.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $268.76.

DoorDash Stock Down 1.0%

DoorDash stock traded down $2.78 during midday trading on Wednesday, hitting $265.29. 10,684,224 shares of the company were exchanged, compared to its average volume of 2,651,273. The company's fifty day moving average price is $250.23 and its 200-day moving average price is $218.21. The company has a market cap of $113.33 billion, a PE ratio of 147.38 and a beta of 1.70. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. DoorDash has a fifty-two week low of $136.53 and a fifty-two week high of $278.15.

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

Insiders Place Their Bets

In other DoorDash news, Director Andy Fang sold 30,000 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $243.32, for a total value of $7,299,600.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Tia Sherringham sold 2,924 shares of DoorDash stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $250.00, for a total transaction of $731,000.00. Following the completion of the transaction, the general counsel directly owned 112,782 shares in the company, valued at approximately $28,195,500. This trade represents a 2.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,026,048 shares of company stock worth $251,592,950. Company insiders own 5.83% of the company's stock.

Institutional Trading of DoorDash

A number of hedge funds have recently modified their holdings of DASH. Saudi Central Bank purchased a new position in DoorDash during the first quarter valued at approximately $25,000. WPG Advisers LLC acquired a new stake in DoorDash during the first quarter valued at $26,000. Pacific Center for Financial Services acquired a new stake in shares of DoorDash during the 1st quarter valued at about $27,000. GFG Capital LLC acquired a new stake in shares of DoorDash during the 2nd quarter valued at about $30,000. Finally, Harbour Investments Inc. grew its stake in shares of DoorDash by 55.6% in the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company's stock valued at $36,000 after buying an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company's stock.

About DoorDash

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.