BTIG Research Upgrades DoorDash (NASDAQ:DASH) to Buy

by · The Markets Daily

DoorDash (NASDAQ:DASH – Get Free Report) was upgraded by BTIG Research from a “neutral” rating to a “buy” rating in a research report issued on Thursday, MarketBeat Ratings reports. The firm currently has a $155.00 target price on the stock. BTIG Research’s price target would indicate a potential upside of 10.94% from the company’s current price.

A number of other equities research analysts also recently weighed in on the stock. Cantor Fitzgerald initiated coverage on shares of DoorDash in a research note on Thursday, September 5th. They issued an “overweight” rating and a $160.00 price target on the stock. Benchmark reiterated a “buy” rating and set a $150.00 target price on shares of DoorDash in a research report on Tuesday, July 30th. Oppenheimer lifted their target price on shares of DoorDash from $125.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. UBS Group lifted their target price on shares of DoorDash from $125.00 to $143.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Wolfe Research assumed coverage on shares of DoorDash in a research report on Tuesday, July 16th. They set an “outperform” rating and a $130.00 target price on the stock. Eleven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $143.00.

Read Our Latest Stock Analysis on DASH

DoorDash Trading Up 1.8 %

DASH opened at $139.72 on Thursday. The company’s 50 day moving average is $120.68 and its 200-day moving average is $121.53. DoorDash has a 1-year low of $69.90 and a 1-year high of $143.34. The company has a market cap of $57.13 billion, a P/E ratio of -128.80, a PEG ratio of 275.59 and a beta of 1.69.

DoorDash (NASDAQ:DASH – Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the business posted ($0.44) earnings per share. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. On average, equities analysts forecast that DoorDash will post 0.01 EPS for the current year.

Insider Activity

In other news, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction on Monday, July 1st. The shares were sold at an average price of $107.75, for a total value of $5,836,386.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Shona L. Brown sold 1,712 shares of DoorDash stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $110.97, for a total value of $189,980.64. Following the completion of the sale, the director now owns 70,191 shares in the company, valued at approximately $7,789,095.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction on Monday, July 1st. The shares were sold at an average price of $107.75, for a total transaction of $5,836,386.50. The disclosure for this sale can be found here. Insiders sold 304,769 shares of company stock worth $34,760,113 in the last quarter. 7.92% of the stock is owned by corporate insiders.

Institutional Trading of DoorDash

A number of hedge funds and other institutional investors have recently bought and sold shares of DASH. Private Advisor Group LLC bought a new stake in DoorDash during the 4th quarter valued at $219,000. Envestnet Portfolio Solutions Inc. bought a new stake in DoorDash during the 4th quarter valued at $285,000. Principal Financial Group Inc. increased its stake in DoorDash by 331.0% during the 4th quarter. Principal Financial Group Inc. now owns 148,175 shares of the company’s stock valued at $14,653,000 after purchasing an additional 113,792 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its stake in DoorDash by 35.0% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 7,838 shares of the company’s stock valued at $775,000 after purchasing an additional 2,030 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in DoorDash by 40.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 15,431 shares of the company’s stock valued at $1,526,000 after purchasing an additional 4,475 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

DoorDash Company Profile

(Get Free Report)

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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