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

DoorDash (NASDAQ:DASH - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

Other equities research analysts also recently issued research reports about the stock. Piper Sandler restated a "neutral" rating and issued a $210.00 price objective (up previously from $160.00) on shares of DoorDash in a research report on Wednesday, February 12th. KeyCorp reduced their price objective on shares of DoorDash from $240.00 to $230.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Mizuho raised their price objective on shares of DoorDash from $200.00 to $222.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. reduced their price objective on shares of DoorDash from $205.00 to $175.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Finally, UBS Group reduced their price objective on shares of DoorDash from $197.00 to $196.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Ten research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $209.97.

DoorDash Stock Performance

Shares of DASH stock traded up $2.61 during mid-day trading on Friday, hitting $218.45. 2,586,885 shares of the stock were exchanged, compared to its average volume of 4,206,039. The stock's fifty day simple moving average is $191.96 and its two-hundred day simple moving average is $186.37. The stock has a market capitalization of $92.57 billion, a price-to-earnings ratio of 809.07 and a beta of 1.67. DoorDash has a 12-month low of $99.32 and a 12-month high of $220.88.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.05. DoorDash had a return on equity of 1.67% and a net margin of 1.15%. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter last year, the company posted ($0.06) earnings per share. The business's revenue was up 20.7% on a year-over-year basis. On average, research analysts expect that DoorDash will post 2.22 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Stanley Tang sold 45,231 shares of DoorDash stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $211.36, for a total value of $9,560,024.16. Following the completion of the sale, the director now owns 26,070 shares of the company's stock, valued at $5,510,155.20. The trade was a 63.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ravi Inukonda sold 1,425 shares of DoorDash stock in a transaction on Friday, April 25th. The shares were sold at an average price of $187.22, for a total value of $266,788.50. Following the completion of the sale, the chief financial officer now directly owns 337,430 shares of the company's stock, valued at approximately $63,173,644.60. This represents a 0.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 268,030 shares of company stock valued at $52,907,806 over the last quarter. Company insiders own 5.83% of the company's stock.

Institutional Investors Weigh In On DoorDash

Hedge funds and other institutional investors have recently made changes to their positions in the business. Saudi Central Bank purchased a new stake in DoorDash during the first quarter valued at about $25,000. WPG Advisers LLC purchased a new stake in DoorDash during the first quarter valued at about $26,000. Pacific Center for Financial Services purchased a new stake in DoorDash during the first quarter valued at about $27,000. Pittenger & Anderson Inc. purchased a new stake in DoorDash during the fourth quarter valued at about $29,000. Finally, Denver PWM LLC purchased a new stake in DoorDash during the fourth quarter valued at about $30,000. Hedge funds and other 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.