Weiss Ratings Reiterates Hold (C) Rating for DoorDash (NASDAQ:DASH)

Key Points

• Weiss Ratings has reaffirmed its "hold (c)" rating for DoorDash (NASDAQ:DASH), indicating a cautious stance on the stock despite recent price increases.
• Several analysts have raised their price targets for DoorDash, with Truist Financial setting a target of $326.00, reflecting a positive outlook that contrasts with the hold rating.
• DoorDash reported a quarterly earnings per share (EPS) of $0.65, significantly beating analyst estimates, and achieved a revenue of $3.28 billion, marking a 24.9% year-over-year increase.

DoorDash (NASDAQ:DASH - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by stock analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other analysts have also issued reports on DASH. Truist Financial raised their price target on DoorDash from $272.00 to $326.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Loop Capital restated a "buy" rating on shares of DoorDash in a report on Tuesday, July 15th. JMP Securities lifted their price target on DoorDash from $250.00 to $335.00 and gave the company a "market outperform" rating in a report on Thursday, August 7th. Oppenheimer lifted their price target on DoorDash from $280.00 to $310.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Finally, Sanford C. Bernstein lifted their price target on DoorDash from $210.00 to $265.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and fourteen have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $275.27.

DoorDash Price Performance

Shares of DASH traded up $4.27 during trading hours on Wednesday, reaching $281.05. 2,390,322 shares of the company traded hands, compared to its average volume of 3,207,527. 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 stock has a market capitalization of $120.06 billion, a PE ratio of 156.14 and a beta of 1.71. DoorDash has a fifty-two week low of $141.76 and a fifty-two week high of $285.08. The stock has a fifty day simple moving average of $257.55 and a 200 day simple moving average of $225.75.

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, beating analysts' consensus estimates of $0.42 by $0.23. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The business's revenue for the quarter was up 24.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.38) earnings per share. As a group, research analysts predict that DoorDash will post 2.22 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In other news, COO Prabir Adarkar sold 30,000 shares of the business's stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $270.60, for a total transaction of $8,118,000.00. Following the completion of the sale, the chief operating officer owned 914,547 shares in the company, valued at approximately $247,476,418.20. The trade was a 3.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stanley Tang sold 45,410 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $268.23, for a total value of $12,180,324.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,001,054 shares of company stock worth $249,511,188. Company insiders own 5.83% of the company's stock.

Hedge Funds Weigh In On DoorDash

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Saudi Central Bank acquired a new position in DoorDash during the 1st quarter worth approximately $25,000. WPG Advisers LLC acquired a new position in shares of DoorDash in the 1st quarter valued at approximately $26,000. Pacific Center for Financial Services acquired a new position in shares of DoorDash in the 1st quarter valued at approximately $27,000. GFG Capital LLC acquired a new position in shares of DoorDash in the 2nd quarter valued at approximately $30,000. Finally, Harbour Investments Inc. raised its position 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 purchasing an additional 70 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

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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