DoorDash (NASDAQ:DASH) Earns “Buy” Rating from BTIG Research

DoorDash (NASDAQ:DASH)‘s stock had its “buy” rating reiterated by equities research analysts at BTIG Research in a research note issued on Thursday,Benzinga reports. They currently have a $315.00 target price on the stock. BTIG Research’s price objective would suggest a potential upside of 54.18% from the company’s previous close.

Several other equities research analysts have also recently issued reports on DASH. Wall Street Zen cut shares of DoorDash from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Wells Fargo & Company cut their price objective on DoorDash from $306.00 to $301.00 and set an “equal weight” rating for the company in a research report on Friday, October 3rd. Needham & Company LLC set a $300.00 target price on DoorDash and gave the stock a “buy” rating in a report on Thursday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $330.00 price target on shares of DoorDash in a research note on Wednesday, September 17th. Finally, DA Davidson raised their price target on DoorDash from $190.00 to $260.00 and gave the company a “neutral” rating in a report on Wednesday, September 10th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, DoorDash currently has an average rating of “Moderate Buy” and an average target price of $280.62.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $204.31 on Thursday. The company has a market capitalization of $87.28 billion, a P/E ratio of 103.71 and a beta of 1.70. DoorDash has a 1-year low of $155.40 and a 1-year high of $285.50. The firm’s 50 day simple moving average is $258.75 and its two-hundred day simple moving average is $237.24. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.04 and a quick ratio of 2.07.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The firm had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same period last year, the company earned $0.38 earnings per share. The business’s revenue for the quarter was up 27.3% on a year-over-year basis. Research analysts expect that DoorDash will post 2.22 EPS for the current fiscal year.

Insider Activity

In related news, Director Stanley Tang sold 45,410 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $243.31, for a total value of $11,048,707.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Prabir Adarkar sold 41,881 shares of the business’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the transaction, the chief operating officer owned 914,547 shares in the company, valued at $224,813,943.54. This trade represents a 4.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 876,527 shares of company stock valued at $218,129,954. 5.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DoorDash

Several hedge funds have recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. boosted its position in shares of DoorDash by 284.0% during the third quarter. Physician Wealth Advisors Inc. now owns 96 shares of the company’s stock valued at $26,000 after buying an additional 71 shares during the period. GFG Capital LLC bought a new stake in shares of DoorDash during the 2nd quarter worth approximately $30,000. Saudi Central Bank purchased a new position in DoorDash during the 1st quarter valued at $25,000. WPG Advisers LLC bought a new position in DoorDash in the 1st quarter valued at $26,000. Finally, Sound Income Strategies LLC increased its stake in DoorDash by 2,760.0% in the third quarter. Sound Income Strategies LLC now owns 143 shares of the company’s stock worth $39,000 after purchasing an additional 138 shares during the period. 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.