DoorDash (NASDAQ:DASH) Rating Increased to Outperform at Keefe, Bruyette & Woods

DoorDash (NASDAQ:DASH) was upgraded by stock analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a report released on Wednesday, MarketBeat Ratings reports. The brokerage presently has a $177.00 price target on the stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 23.76% from the stock’s previous close.

Other analysts also recently issued reports about the company. BTIG Research upgraded DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a research report on Thursday, September 19th. Roth Mkm increased their price objective on shares of DoorDash from $118.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. JMP Securities boosted their target price on shares of DoorDash from $140.00 to $145.00 and gave the company a “market outperform” rating in a research report on Friday, August 2nd. BMO Capital Markets increased their price target on shares of DoorDash from $127.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company lifted their price objective on shares of DoorDash from $125.00 to $127.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.50.

DoorDash Stock Down 0.6 %

Shares of DoorDash stock opened at $143.02 on Wednesday. The stock has a market capitalization of $58.86 billion, a price-to-earnings ratio of -132.43, a price-to-earnings-growth ratio of 295.70 and a beta of 1.69. DoorDash has a twelve month low of $69.90 and a twelve month high of $146.36. The company has a 50-day simple moving average of $124.38 and a two-hundred day simple moving average of $121.86.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results 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 business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.44) earnings per share. On average, sell-side analysts anticipate that DoorDash will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DoorDash news, insider Keith Yandell sold 6,554 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $107.75, for a total transaction of $706,193.50. Following the completion of the sale, the insider now owns 155,097 shares of the company’s stock, valued at approximately $16,711,701.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $140.06, for a total value of $7,586,489.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Keith Yandell sold 6,554 shares of the company’s stock in a transaction dated 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 owns 155,097 shares in the company, valued at approximately $16,711,701.75. The disclosure for this sale can be found here. Insiders have sold a total of 350,223 shares of company stock valued at $41,391,523 over the last ninety days. 7.92% of the stock is owned by company insiders.

Hedge Funds Weigh In On DoorDash

Institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. increased its stake in shares of DoorDash by 82.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after acquiring an additional 132 shares in the last quarter. Headlands Technologies LLC acquired a new stake in DoorDash in the second quarter worth $32,000. Versant Capital Management Inc increased its stake in DoorDash by 340.8% in the second 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 holdings in shares of DoorDash by 2,108.3% during 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 raised its holdings in shares of DoorDash by 146.8% during the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after purchasing an additional 204 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

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.