DoorDash (NASDAQ:DASH) Coverage Initiated at Wolfe Research

Investment analysts at Wolfe Research initiated coverage on shares of DoorDash (NASDAQ:DASH) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm set an “outperform” rating and a $130.00 price target on the stock. Wolfe Research’s target price would indicate a potential upside of 26.02% from the stock’s current price.

A number of other research analysts also recently commented on DASH. Wedbush reiterated a “neutral” rating and set a $115.00 target price on shares of DoorDash in a research report on Thursday, May 2nd. Needham & Company LLC restated a “buy” rating and issued a $137.00 price target on shares of DoorDash in a research report on Thursday, May 2nd. Royal Bank of Canada lowered their price target on DoorDash from $175.00 to $165.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. KeyCorp began coverage on DoorDash in a research report on Thursday, July 11th. They issued a “sector weight” rating for the company. Finally, Benchmark lowered their price target on DoorDash from $165.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Nine equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $134.60.

DoorDash Stock Performance

NASDAQ DASH opened at $103.16 on Tuesday. The company has a market capitalization of $42.18 billion, a P/E ratio of -95.52, a P/E/G ratio of 30.85 and a beta of 1.67. DoorDash has a one year low of $69.90 and a one year high of $143.34. The stock has a 50 day moving average price of $111.35 and a 200-day moving average price of $117.84.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, May 1st. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.45 billion. DoorDash had a negative return on equity of 6.28% and a negative net margin of 4.61%. The company’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.41) EPS. As a group, equities analysts predict that DoorDash will post 0.09 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Tony Xu sold 131,590 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $111.61, for a total value of $14,686,759.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Tony Xu sold 131,590 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $111.61, for a total value of $14,686,759.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Keith Yandell sold 12,088 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $111.84, for a total transaction of $1,351,921.92. Following the completion of the sale, the insider now directly owns 161,651 shares of the company’s stock, valued at $18,079,047.84. The disclosure for this sale can be found here. Insiders sold a total of 459,016 shares of company stock valued at $50,495,566 over the last three months. 7.92% of the stock is owned by company insiders.

Hedge Funds Weigh In On DoorDash

A number of large investors have recently added to or reduced their stakes in the company. Cigna Investments Inc. New raised its holdings in DoorDash by 12.1% in the second quarter. Cigna Investments Inc. New now owns 3,550 shares of the company’s stock worth $387,000 after purchasing an additional 383 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in DoorDash by 5.3% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,034 shares of the company’s stock worth $656,000 after purchasing an additional 302 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in DoorDash by 90.9% in the second quarter. V Square Quantitative Management LLC now owns 6,474 shares of the company’s stock worth $704,000 after purchasing an additional 3,083 shares in the last quarter. SJS Investment Consulting Inc. raised its holdings in DoorDash by 21.0% in the second quarter. SJS Investment Consulting Inc. now owns 673 shares of the company’s stock worth $73,000 after purchasing an additional 117 shares in the last quarter. Finally, Wedmont Private Capital raised its holdings in DoorDash by 37.6% in the second quarter. Wedmont Private Capital now owns 3,856 shares of the company’s stock worth $405,000 after purchasing an additional 1,053 shares in the last quarter. 90.64% of the stock is currently 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.