DoorDash (NASDAQ:DASH) Upgraded at BTIG Research

BTIG Research upgraded shares of DoorDash (NASDAQ:DASH) from a neutral rating to a buy rating in a research report report published on Thursday morning, Marketbeat reports. The brokerage currently has $155.00 target price on the stock.

Several other research analysts also recently weighed in on DASH. Cantor Fitzgerald assumed coverage on DoorDash in a research note on Thursday, September 5th. They issued an overweight rating and a $160.00 target price on the stock. 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 note on Friday, August 2nd. Truist Financial lifted their target price on shares of DoorDash from $145.00 to $150.00 and gave the company a buy rating in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their price target on shares of DoorDash from $111.00 to $137.00 and gave the stock a neutral rating in a report on Friday, August 2nd. Finally, Morgan Stanley lifted their price objective on DoorDash from $145.00 to $150.00 and gave the company an overweight rating in a report on Friday, August 2nd. Eleven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, DoorDash currently has an average rating of Moderate Buy and a consensus target price of $143.00.

DoorDash Trading Up 1.8 %

DASH stock opened at $139.72 on Thursday. The company has a market capitalization of $57.13 billion, a P/E ratio of -129.37, a PEG ratio of 275.59 and a beta of 1.69. The business has a 50 day simple moving average of $121.37 and a 200-day simple moving average of $121.58. DoorDash has a twelve month low of $69.90 and a twelve month high of $143.34.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.29). DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the previous year, the business posted ($0.44) earnings per share. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. Research analysts predict that DoorDash will post 0.01 EPS for the current fiscal year.

Insider Activity

In related news, insider Keith Yandell sold 6,554 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $107.75, for a total value of $706,193.50. Following the sale, the insider now directly owns 155,097 shares of the company’s stock, valued at $16,711,701.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction 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 $2,355,187.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Keith Yandell sold 6,554 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $107.75, for a total value of $706,193.50. Following the completion of the transaction, the insider now owns 155,097 shares in the company, valued at $16,711,701.75. The disclosure for this sale can be found here. Insiders sold a total of 304,769 shares of company stock valued at $34,760,113 in the last 90 days. 7.92% of the stock is currently owned by insiders.

Institutional Trading of DoorDash

A number of institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. grew its stake in DoorDash by 82.0% during the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after buying an additional 132 shares during the period. Headlands Technologies LLC purchased a new stake in DoorDash during the 2nd quarter worth $32,000. Versant Capital Management Inc increased its holdings in DoorDash by 340.8% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after purchasing an additional 259 shares in the last quarter. ORG Partners LLC raised its position in DoorDash by 2,108.3% in the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after purchasing an additional 253 shares during the period. Finally, Quest Partners LLC lifted its stake in shares of DoorDash by 146.8% during the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after purchasing an additional 204 shares in the last quarter. Hedge funds and other institutional investors 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.