DoorDash, Inc. (NASDAQ:DASH) Given Average Rating of “Moderate Buy” by Brokerages

Shares of DoorDash, Inc. (NASDAQ:DASH) have been assigned a consensus rating of “Moderate Buy” from the twenty-eight research firms that are presently covering the stock, MarketBeat.com reports. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $142.38.

A number of brokerages recently weighed in on DASH. JMP Securities boosted their price objective on shares of DoorDash from $140.00 to $145.00 and gave the company a “market outperform” rating in a research report on Friday. Morgan Stanley increased their price target on DoorDash from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday. Needham & Company LLC boosted their price objective on DoorDash from $137.00 to $145.00 and gave the company a “buy” rating in a research report on Friday. Oppenheimer increased their target price on DoorDash from $125.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Benchmark reissued a “buy” rating and set a $150.00 price target on shares of DoorDash in a report on Tuesday.

DoorDash Stock Performance

NASDAQ:DASH opened at $117.23 on Friday. The stock has a 50-day simple moving average of $109.35 and a 200 day simple moving average of $118.25. DoorDash has a one year low of $69.90 and a one year high of $143.34. The company has a market capitalization of $47.94 billion, a price-to-earnings ratio of -108.55, a price-to-earnings-growth ratio of 41.18 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.28). DoorDash had a negative return on equity of 6.28% and a negative net margin of 4.61%. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same period in the prior year, the firm earned ($0.44) EPS. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. On average, equities research analysts forecast that DoorDash will post 0.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $106.64, for a total transaction of $746,480.00. Following the transaction, the chief financial officer now owns 417,223 shares in the company, valued at $44,492,660.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other DoorDash news, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $106.64, for a total transaction of $746,480.00. Following the completion of the sale, the chief financial officer now owns 417,223 shares of the company’s stock, valued at approximately $44,492,660.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Tia Sherringham sold 11,740 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $110.46, for a total transaction of $1,296,800.40. Following the completion of the transaction, the general counsel now directly owns 183,512 shares in the company, valued at $20,270,735.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 459,016 shares of company stock worth $50,325,396. 7.92% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Privium Fund Management UK Ltd bought a new position in DoorDash in the 2nd quarter worth $667,000. Rhumbline Advisers lifted its stake in shares of DoorDash by 3.4% in the second quarter. Rhumbline Advisers now owns 409,866 shares of the company’s stock valued at $44,585,000 after buying an additional 13,639 shares during the period. Versor Investments LP acquired a new position in DoorDash in the 2nd quarter valued at approximately $1,267,000. CIBC Asset Management Inc lifted its position in shares of DoorDash by 5.1% in the 2nd quarter. CIBC Asset Management Inc now owns 72,823 shares of the company’s stock worth $7,922,000 after acquiring an additional 3,529 shares during the period. Finally, Natixis Advisors LLC grew its holdings in shares of DoorDash by 584.7% during the 2nd quarter. Natixis Advisors LLC now owns 342,103 shares of the company’s stock worth $37,214,000 after purchasing an additional 292,139 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.