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

JMP Securities reissued their market outperform rating on shares of DoorDash (NASDAQ:DASH) in a research note published on Thursday,Benzinga reports. The brokerage currently has a $200.00 price objective on the stock.

Several other equities analysts have also weighed in on DASH. DA Davidson increased their price objective on DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Susquehanna raised their price target on DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Evercore ISI raised their price target on DoorDash from $155.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Wells Fargo & Company raised their price target on DoorDash from $127.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday, October 4th. Finally, Oppenheimer raised their price target on DoorDash from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and a consensus target price of $171.42.

DoorDash Trading Up 2.5 %

Shares of NASDAQ DASH opened at $174.96 on Thursday. The stock has a fifty day simple moving average of $171.36 and a two-hundred day simple moving average of $141.72. DoorDash has a 1-year low of $93.33 and a 1-year high of $181.78. The firm has a market cap of $72.68 billion, a price-to-earnings ratio of -388.80, a price-to-earnings-growth ratio of 13.56 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period in the prior year, the company earned ($0.19) earnings per share. DoorDash’s revenue was up 25.0% compared to the same quarter last year. Analysts forecast that DoorDash will post 0.26 EPS for the current year.

Insider Transactions at DoorDash

In other news, insider Keith Yandell sold 7,980 shares of DoorDash stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total value of $1,356,440.40. Following the transaction, the insider now owns 124,221 shares in the company, valued at approximately $21,115,085.58. The trade was a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $143.76, for a total value of $7,188,000.00. Following the completion of the transaction, the director now owns 18,089 shares in the company, valued at approximately $2,600,474.64. This represents a 73.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,082,694 shares of company stock worth $183,152,786. Company insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

Large investors have recently modified their holdings of the business. Asset Management One Co. Ltd. grew its stake in shares of DoorDash by 10.6% in the third quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock worth $16,012,000 after purchasing an additional 10,755 shares during the last quarter. Marshall Wace LLP grew its stake in shares of DoorDash by 930.5% in the second quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock worth $73,534,000 after purchasing an additional 610,388 shares during the last quarter. Forsta AP Fonden grew its stake in shares of DoorDash by 18.6% in the third quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock worth $9,206,000 after purchasing an additional 10,100 shares during the last quarter. Sanctuary Advisors LLC grew its stake in shares of DoorDash by 48.8% in the third quarter. Sanctuary Advisors LLC now owns 10,663 shares of the company’s stock worth $1,522,000 after purchasing an additional 3,498 shares during the last quarter. Finally, Baillie Gifford & Co. grew its stake in shares of DoorDash by 13.2% in the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after purchasing an additional 1,645,186 shares during the last quarter. 90.64% of the stock is owned by institutional investors.

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.