DoorDash, Inc. (NASDAQ:DASH) Given Average Rating of “Moderate Buy” by Brokerages

Shares of DoorDash, Inc. (NASDAQ:DASH) have been assigned a consensus recommendation of “Moderate Buy” from the thirty-four research firms that are covering the company, Marketbeat reports. Ten analysts have rated the stock with a hold recommendation and twenty-four have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $209.97.

DASH has been the subject of a number of analyst reports. Needham & Company LLC lifted their target price on shares of DoorDash from $225.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Mizuho lifted their target price on shares of DoorDash from $200.00 to $222.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. UBS Group reduced their target price on shares of DoorDash from $197.00 to $196.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. JPMorgan Chase & Co. reduced their target price on shares of DoorDash from $205.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Finally, Benchmark lifted their target price on shares of DoorDash from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th.

DoorDash Stock Down 0.6%

DoorDash stock opened at $204.89 on Friday. The company’s fifty day simple moving average is $188.48 and its 200-day simple moving average is $184.34. DoorDash has a 12 month low of $99.32 and a 12 month high of $215.25. The stock has a market cap of $86.82 billion, a P/E ratio of 758.85 and a beta of 1.68.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.39 by $0.05. DoorDash had a net margin of 1.15% and a return on equity of 1.67%. The business had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the previous year, the company posted ($0.06) EPS. DoorDash’s revenue was up 20.7% on a year-over-year basis. On average, equities 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 45,410 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $181.21, for a total value of $8,228,746.10. Following the completion of the transaction, the director now owns 18,285 shares in the company, valued at approximately $3,313,424.85. This represents a 71.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Ravi Inukonda sold 14,715 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $196.52, for a total transaction of $2,891,791.80. Following the completion of the transaction, the chief financial officer now owns 338,055 shares of the company’s stock, valued at approximately $66,434,568.60. This represents a 4.17% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,612 shares of company stock worth $18,808,326. 5.83% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DoorDash

A number of hedge funds have recently made changes to their positions in DASH. Merit Financial Group LLC acquired a new stake in shares of DoorDash during the 4th quarter worth about $503,000. MassMutual Private Wealth & Trust FSB increased its position in shares of DoorDash by 34.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock worth $46,000 after purchasing an additional 69 shares in the last quarter. Ballentine Partners LLC increased its position in shares of DoorDash by 3.9% during the 4th quarter. Ballentine Partners LLC now owns 2,962 shares of the company’s stock worth $497,000 after purchasing an additional 112 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its position in shares of DoorDash by 36.9% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 24,156 shares of the company’s stock worth $4,052,000 after purchasing an additional 6,514 shares in the last quarter. Finally, Simon Quick Advisors LLC increased its position in shares of DoorDash by 9.9% during the 4th quarter. Simon Quick Advisors LLC now owns 1,858 shares of the company’s stock worth $312,000 after purchasing an additional 167 shares in the last quarter. Institutional investors and hedge funds 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.