DoorDash’s (DASH) “Market Outperform” Rating Reaffirmed at JMP Securities

JMP Securities restated their market outperform rating on shares of DoorDash (NASDAQ:DASH) in a research report report published on Thursday morning, Benzinga reports. JMP Securities currently has a $140.00 target price on the stock.

Other equities analysts have also recently issued reports about the stock. Oppenheimer raised their price target on shares of DoorDash from $140.00 to $150.00 and gave the stock an outperform rating in a research note on Monday, April 29th. Benchmark decreased their price target on shares of DoorDash from $165.00 to $150.00 and set a buy rating for the company in a research note on Thursday, May 2nd. JPMorgan Chase & Co. raised their target price on shares of DoorDash from $108.00 to $111.00 and gave the company a neutral rating in a research note on Thursday, May 2nd. Wedbush reissued a neutral rating and issued a $115.00 target price on shares of DoorDash in a research note on Thursday, May 2nd. Finally, Loop Capital started coverage on shares of DoorDash in a research note on Friday, April 19th. They issued a buy rating and a $170.00 target price for the company. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $134.60.

DoorDash Stock Up 5.8 %

Shares of DASH opened at $106.10 on Thursday. The stock has a market capitalization of $43.39 billion, a P/E ratio of -98.24, a P/E/G ratio of 30.98 and a beta of 1.67. DoorDash has a twelve month low of $69.90 and a twelve month high of $143.34. The company has a 50 day moving average of $110.86 and a 200-day moving average of $118.09.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.45 billion. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The business’s quarterly revenue was up 23.5% on a year-over-year basis. During the same period last year, the business earned ($0.41) EPS. On average, sell-side analysts anticipate that DoorDash will post 0.09 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In other news, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction on Monday, July 15th. The stock was sold at an average price of $104.96, for a total transaction of $5,685,263.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction on Monday, July 15th. The stock was sold at an average price of $104.96, for a total transaction of $5,685,263.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $113.40, for a total value of $5,670,000.00. Following the completion of the transaction, the director now directly owns 39,275 shares of the company’s stock, valued at approximately $4,453,785. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 459,016 shares of company stock valued at $50,495,566. 7.92% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. First Horizon Advisors Inc. raised its stake in DoorDash by 141.1% in the second quarter. First Horizon Advisors Inc. now owns 352 shares of the company’s stock valued at $38,000 after purchasing an additional 206 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in DoorDash by 9.0% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 25,807 shares of the company’s stock valued at $2,807,000 after purchasing an additional 2,125 shares in the last quarter. Western Financial Corp CA raised its stake in DoorDash by 4.8% in the second quarter. Western Financial Corp CA now owns 8,667 shares of the company’s stock valued at $943,000 after purchasing an additional 398 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in DoorDash by 92.1% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,285,096 shares of the company’s stock valued at $139,793,000 after purchasing an additional 616,049 shares in the last quarter. Finally, Raymond James & Associates raised its stake in DoorDash by 15.7% in the second quarter. Raymond James & Associates now owns 80,350 shares of the company’s stock valued at $8,740,000 after purchasing an additional 10,899 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

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.