DoorDash (NASDAQ:DASH) Tight for Buy at BTIG Research

DoorDash (NASDAQ:DASH – Get a Free Report) was upgraded by analysts at BTIG Research from a “neutral” rating to a “buy” rating in a report issued on Thursday, MarketBeat Ratings reports. The firm currently has a $155.00 price objective on the stock. BTIG Research’s price target indicates a potential upside of 17.00% from the stock’s previous close.

Other research analysts have recently issued research reports on the stock. Barclays raised their price objective on shares of DoorDash from $113.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Cantor Fitzgerald assumed coverage on shares of DoorDash in a report on Thursday, September 5th. They issued an “overweight” rating and a $160.00 target price on the stock. Redburn Atlantic initiated coverage on DoorDash in a report on Friday, July 26th. They set a “buy” rating and a $170.00 price objective for the company. Wells Fargo & Company boosted their price objective on DoorDash from $125.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Finally, Wolfe Research began coverage on DoorDash in a research report on Tuesday, July 16th. They set an “outperform” rating and a $130.00 price target on the stock. Eleven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The company currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.00, based on data from MarketBeat.com.

See the latest inventory analysis on DoorDash

DoorDash trading up 2.0%

Shares of NASDAQ:DASH opened at $132.48 on Thursday. The company has a market cap of $54.17 billion, a PE ratio of -122.67, a P/E/G ratio of 275.59 and a beta of 1.69. DoorDash has a 12-month low of $69.90 and a 12-month high of $143.34. The company’s fifty-day simple moving average is $119.51, and its 200-day simple moving average is $121.34.

DoorDash (NASDAQ:DASH – Get Your Free Report ) last issued its quarterly earnings data 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). The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. DoorDash’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period in the previous year, the business earned EPS of ($0.44). research analysts predict that DoorDash will post 0.01 EPS for the current year.

Insider transactions at DoorDash

In related news, Director Shona L. Brown sold 1,712 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 70,191 shares in the company, valued at approximately $7,789,095.27. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC’s website. In related news, Director Shona L. Brown sold 1,712 shares of DoorDash stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $110.97, for a total value of $189,980.64. Following the completion of the transaction, the director now owns 70,191 shares in the company, valued at approximately $7,789,095.27. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Also, Director Andy Fang sold 50,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total value of $6,510,000.00. Following the transaction, the director now owns 18,089 shares in the company, valued at approximately $2,355,187.80. The disclosure for this sale can be found here. Insiders have sold 304,769 shares of company stock worth $34,760,113 over the last 90 days. 7.92% of shares are currently owned by company insiders.

Institutional investors are piling in on DoorDash

A number of institutional investors have recently added to or reduced their stakes in DASH. Janus Henderson Group PLC grew its position in DoorDash by 11,416.7% in the first quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock worth $475,837,000 after acquiring an additional 3,425,115 shares during the period. Vanguard Group Inc. raised its position in shares of DoorDash by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock worth $2,897,823,000 after buying an additional 2,259,976 shares in the last quarter. Dragoneer Investment Group LLC boosted its stake in DoorDash by 77.9% in the second quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock valued at $309,755,000 after purchasing an additional 1,246,567 shares during the last quarter. Franklin Resources Inc. boosted its holdings in DoorDash by 294.5% in the 4th quarter. Franklin Resources Inc. now owns 1,607,776 shares of the company’s stock worth $158,993,000 after purchasing an additional 1,200,181 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in DoorDash by 45.6% during the 4th quarter. First Trust Advisors LP now owns 3,079,083 shares of the company’s stock worth $304,490,000. after buying an additional 964,860 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s shares.

About DoorDash

(Get a 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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