Argus Begins Coverage on DoorDash (NASDAQ:DASH)

Argus started coverage on shares of DoorDash (NASDAQ:DASH) in a research note published on Tuesday, Marketbeat Ratings reports. The brokerage issued a hold rating on the stock.

Several other brokerages also recently issued reports on DASH. Needham & Company LLC reaffirmed a buy rating and issued a $137.00 price objective on shares of DoorDash in a research report on Thursday, May 2nd. Citigroup raised their price target on shares of DoorDash from $141.00 to $144.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. Moffett Nathanson raised shares of DoorDash from a neutral rating to a buy rating and raised their price target for the stock from $118.00 to $164.00 in a research report on Thursday, April 11th. Wells Fargo & Company raised their price target on shares of DoorDash from $100.00 to $125.00 and gave the stock an equal weight rating in a research report on Thursday, April 4th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of DoorDash from $140.00 to $155.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, DoorDash currently has an average rating of Moderate Buy and a consensus target price of $134.60.

DoorDash Stock Down 1.6 %

Shares of NASDAQ:DASH opened at $100.78 on Tuesday. DoorDash has a 52-week low of $69.90 and a 52-week high of $143.34. The company has a 50 day moving average of $109.85 and a two-hundred day moving average of $118.01. The company has a market capitalization of $41.21 billion, a price-to-earnings ratio of -93.31, a price-to-earnings-growth ratio of 30.89 and a beta of 1.67.

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

Insider Buying and Selling at DoorDash

In other DoorDash news, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $104.96, for a total value of $5,685,263.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $104.96, for a total transaction of $5,685,263.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $105.57, for a total transaction of $5,278,500.00. Following the sale, the director now owns 19,982 shares in the company, valued at $2,109,499.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 459,016 shares of company stock worth $50,495,566. 7.92% of the stock is owned by insiders.

Institutional Investors Weigh In On DoorDash

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN raised its stake in shares of DoorDash by 102.5% during the fourth quarter. Wells Fargo & Company MN now owns 199,152 shares of the company’s stock valued at $19,694,000 after purchasing an additional 100,787 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of DoorDash during the first quarter valued at about $2,969,000. Sequoia Financial Advisors LLC bought a new stake in shares of DoorDash during the fourth quarter valued at about $769,000. Bank of Nova Scotia raised its position in DoorDash by 298.3% in the fourth quarter. Bank of Nova Scotia now owns 186,201 shares of the company’s stock worth $18,413,000 after acquiring an additional 139,450 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in DoorDash by 294.5% in the fourth quarter. Franklin Resources Inc. now owns 1,607,776 shares of the company’s stock worth $158,993,000 after acquiring an additional 1,200,181 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors.

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.