Wall Street Zen Upgrades DoorDash (NASDAQ:DASH) to "Buy"

Key Points

• Investment analysts at Wall Street Zen upgraded DoorDash from a "hold" rating to a "buy" rating.
• Several analysts have increased their price targets for DoorDash, with estimates ranging from $275.27 to $360.00, reflecting a general optimism about the company's performance.
• DoorDash reported a revenue of $3.28 billion for the last quarter, exceeding expectations and showcasing a year-over-year growth of 24.9%.

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 note issued to investors on Saturday.

A number of other equities research analysts also recently issued reports on DASH. Evercore ISI reissued an "outperform" rating and issued a $360.00 price target (up from $240.00) on shares of DoorDash in a report on Friday, August 8th. Benchmark increased their price target on shares of DoorDash from $260.00 to $315.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Susquehanna increased their price target on shares of DoorDash from $235.00 to $300.00 and gave the stock a "positive" rating in a report on Monday, August 11th. Piper Sandler increased their price target on shares of DoorDash from $210.00 to $290.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Finally, BMO Capital Markets increased their price target on shares of DoorDash from $238.00 to $288.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $275.27.

DoorDash Price Performance

NASDAQ DASH opened at $266.02 on Friday. The company has a market cap of $113.64 billion, a PE ratio of 147.79 and a beta of 1.71. DoorDash has a 52 week low of $143.37 and a 52 week high of $285.08. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. The firm's 50-day simple moving average is $258.41 and its two-hundred day simple moving average is $226.73.

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

Insider Buying and Selling at DoorDash

In other DoorDash news, CEO Tony Xu sold 291,403 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $238.19, for a total transaction of $69,409,280.57. Following the transaction, the chief executive officer directly owned 229,047 shares in the company, valued at $54,556,704.93. This trade represents a 55.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andy Fang sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $275.74, for a total transaction of $13,787,000.00. Following the transaction, the director owned 22,545 shares in the company, valued at $6,216,558.30. The trade was a 68.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,001,054 shares of company stock valued at $249,511,188 over the last ninety days. Insiders own 5.83% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Gilbert & Cook Inc. grew its position in DoorDash by 2.6% during the second quarter. Gilbert & Cook Inc. now owns 1,685 shares of the company's stock valued at $415,000 after acquiring an additional 42 shares during the last quarter. Perigon Wealth Management LLC grew its holdings in shares of DoorDash by 1.3% in the second quarter. Perigon Wealth Management LLC now owns 3,701 shares of the company's stock worth $912,000 after purchasing an additional 46 shares during the last quarter. Advisory Resource Group grew its holdings in shares of DoorDash by 0.8% in the second quarter. Advisory Resource Group now owns 5,774 shares of the company's stock worth $1,423,000 after purchasing an additional 48 shares during the last quarter. Quotient Wealth Partners LLC grew its holdings in shares of DoorDash by 3.2% in the third quarter. Quotient Wealth Partners LLC now owns 1,537 shares of the company's stock worth $418,000 after purchasing an additional 48 shares during the last quarter. Finally, Hobart Private Capital LLC grew its holdings in shares of DoorDash by 2.4% in the third quarter. Hobart Private Capital LLC now owns 2,164 shares of the company's stock worth $589,000 after purchasing an additional 50 shares during the last quarter. 90.64% of the stock is currently 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.

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