DoorDash's (DASH) Positive Rating Reaffirmed at Susquehanna

Key Points

• DoorDash (NASDAQ:DASH) received a "positive" rating from Susquehanna with a new price target of $300.00, indicating an estimated upside of 15.75% from its previous closing price.
• Several analysts have raised their target prices for DoorDash, with Truist Financial suggesting a target of $326.00 and BMO Capital Markets at $288.00 while maintaining various ratings from "hold" to "buy."
• DoorDash reported a quarterly revenue of $3.28 billion, exceeding expectations and showing a year-over-year growth of 24.9%, alongside an earnings per share of $0.65, beating estimates by $0.23.

DoorDash (NASDAQ:DASH - Get Free Report)'s stock had its "positive" rating reissued by investment analysts at Susquehanna in a note issued to investors on Monday, Marketbeat Ratings reports. They presently have a $300.00 price target on the stock, up from their prior price target of $235.00. Susquehanna's price objective indicates a potential upside of 13.48% from the stock's current price.

Other analysts also recently issued reports about the company. Wall Street Zen upgraded DoorDash from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Cantor Fitzgerald restated an "overweight" rating and set a $260.00 price objective (up from $210.00) on shares of DoorDash in a research report on Wednesday, June 25th. Citigroup restated an "outperform" rating on shares of DoorDash in a research report on Thursday, August 7th. Jefferies Financial Group restated a "hold" rating and set a $250.00 price objective (up from $235.00) on shares of DoorDash in a research report on Tuesday, July 15th. Finally, Truist Financial upped their price objective on DoorDash from $272.00 to $326.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Twelve investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, DoorDash has a consensus rating of "Moderate Buy" and an average price target of $263.88.

DoorDash Price Performance

DoorDash stock traded up $8.27 during mid-day trading on Monday, reaching $264.36. 2,104,843 shares of the company were exchanged, compared to its average volume of 4,775,524. The company has a fifty day simple moving average of $236.97 and a 200-day simple moving average of $207.32. DoorDash has a 12 month low of $122.32 and a 12 month high of $278.15. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. The firm has a market cap of $112.02 billion, a PE ratio of 146.87 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, topping 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 firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the company earned ($0.38) EPS. The company's revenue was up 24.9% on a year-over-year basis. As a group, equities research analysts expect that DoorDash will post 2.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other DoorDash news, CEO Tony Xu sold 4,042 shares of the business's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $250.28, for a total transaction of $1,011,631.76. Following the completion of the sale, the chief executive officer directly owned 520,450 shares of the company's stock, valued at approximately $130,258,226. The trade was a 0.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $275.74, for a total value of $13,787,000.00. Following the sale, the director directly owned 22,545 shares of the company's stock, valued at $6,216,558.30. This represents a 68.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 635,187 shares of company stock worth $147,955,804 over the last three months. Insiders own 5.83% of the company's stock.

Institutional Trading of DoorDash

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC bought a new stake in DoorDash during the 1st quarter worth approximately $7,200,000. Blair William & Co. IL increased its holdings in DoorDash by 12.8% during the 1st quarter. Blair William & Co. IL now owns 4,855 shares of the company's stock worth $887,000 after purchasing an additional 551 shares in the last quarter. Brighton Jones LLC grew its holdings in shares of DoorDash by 24.0% in the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock valued at $1,566,000 after acquiring an additional 1,807 shares in the last quarter. Flagship Harbor Advisors LLC grew its holdings in shares of DoorDash by 14.4% in the first quarter. Flagship Harbor Advisors LLC now owns 1,636 shares of the company's stock valued at $299,000 after acquiring an additional 206 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of DoorDash by 70.4% in the first quarter. GAMMA Investing LLC now owns 1,922 shares of the company's stock valued at $351,000 after acquiring an additional 794 shares in the last quarter. 90.64% of the stock is owned by institutional investors.

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.