CoreCap Advisors LLC Increases Stock Position in DoorDash, Inc. $DASH

CoreCap Advisors LLC raised its stake in DoorDash, Inc. (NASDAQ:DASH) by 5,258.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,912 shares of the company’s stock after purchasing an additional 3,839 shares during the period. CoreCap Advisors LLC’s holdings in DoorDash were worth $722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in DASH. MV Capital Management Inc. purchased a new stake in shares of DoorDash in the 4th quarter valued at about $26,000. Swiss RE Ltd. purchased a new position in DoorDash during the 4th quarter worth approximately $28,000. ST Germain D J Co. Inc. acquired a new position in DoorDash during the fourth quarter worth approximately $29,000. Kemnay Advisory Services Inc. acquired a new position in DoorDash during the fourth quarter worth approximately $32,000. Finally, Sunbelt Securities Inc. lifted its stake in DoorDash by 124.1% in the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock valued at $33,000 after buying an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DASH shares. Rothschild & Co Redburn set a $350.00 price objective on DoorDash in a report on Tuesday, May 12th. Bank of America reaffirmed a “buy” rating on shares of DoorDash in a report on Thursday. Wedbush began coverage on shares of DoorDash in a research report on Thursday, July 16th. They issued a “neutral” rating and a $205.00 price target for the company. Barclays increased their price target on shares of DoorDash from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Jefferies Financial Group raised their price objective on shares of DoorDash from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Twenty-three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and a consensus price target of $253.50.

DoorDash News Summary

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash’s second-quarter revenue increased 35.6% year over year to $4.45 billion, exceeding the $4.34 billion consensus estimate. Growth in orders, marketplaces, memberships and the Deliveroo acquisition supported the top-line beat. DoorDash Q2 Earnings Miss on Higher R&D Costs, Revenue Beat
• Positive Sentiment: Management issued stronger-than-expected third-quarter guidance, indicating that demand for food, grocery and convenience delivery remains resilient. The company also said improving growth and unit economics are helping fund investments in DashPass, merchant services, artificial intelligence and autonomous delivery. DoorDash Issues Strong Guidance as Delivery Demand Keeps Rising
• Positive Sentiment: DoorDash received FAA approval to operate commercial air-carrier services in Charlotte, clearing a regulatory hurdle for drone deliveries. The initiative could eventually improve delivery speed and economics, although its financial contribution is likely longer term. DoorDash Cleared for Takeoff with FAA Air Carrier Approval
• Positive Sentiment: Several analysts raised their price targets: Cantor Fitzgerald increased its target to $260 and maintained an overweight rating, while Needham reiterated a buy rating with a $265 target. Barclays also lifted its target to $230, though it retained an equal-weight rating. DoorDash Given New Price Target at Barclays
• Neutral Sentiment: DoorDash is positioning artificial intelligence as a growth and efficiency driver, but management said AI-generated traffic is still limited. Autonomous delivery robot deployment also faces practical challenges involving charging, loading and complex pickups. DoorDash Faces Challenges Scaling Its Dot Delivery Robot
• Negative Sentiment: Adjusted earnings of $0.46 per share fell short of expectations and declined from $0.65 a year earlier. Higher research-and-development spending is pressuring near-term profitability as DoorDash invests in technology and expansion. DoorDash Q2 Earnings Miss Estimates
• Negative Sentiment: Director Stanley Tang sold 67,693 shares worth approximately $13.6 million under a pre-arranged Rule 10b5-1 plan. While scheduled insider sales do not necessarily signal deteriorating fundamentals, the transaction reduced his position by roughly 63%. Stanley Tang Sells DoorDash Shares

Insiders Place Their Bets

In related news, COO Prabir Adarkar sold 21,739 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total value of $3,374,979.75. Following the completion of the sale, the chief operating officer owned 959,076 shares in the company, valued at $148,896,549. This trade represents a 2.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shona L. Brown sold 582 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $177.06, for a total transaction of $103,048.92. Following the completion of the sale, the director owned 31,156 shares of the company’s stock, valued at approximately $5,516,481.36. The trade was a 1.83% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 142,620 shares of company stock valued at $26,822,778. Corporate insiders own 5.28% of the company’s stock.

DoorDash Stock Performance

NASDAQ:DASH opened at $216.26 on Friday. The firm’s fifty day moving average price is $180.65 and its 200 day moving average price is $174.77. DoorDash, Inc. has a 1-year low of $143.30 and a 1-year high of $285.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.43. The firm has a market cap of $94.23 billion, a price-to-earnings ratio of 113.23 and a beta of 1.78.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The firm had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.34 billion. DoorDash had a return on equity of 8.48% and a net margin of 5.29%.The firm’s quarterly revenue was up 35.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS. On average, sell-side analysts expect that DoorDash, Inc. will post 2.5 EPS for the current year.

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.