DoorDash (NASDAQ:DASH) Rating Increased to Overweight at KeyCorp

DoorDash (NASDAQ:DASH) was upgraded by research analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a research note issued to investors on Wednesday, MarketBeat reports. The firm presently has a $177.00 target price on the stock. KeyCorp’s target price suggests a potential upside of 23.76% from the stock’s current price.

A number of other research firms have also commented on DASH. Barclays raised their price objective on shares of DoorDash from $113.00 to $120.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. JMP Securities lifted their price target on DoorDash from $140.00 to $145.00 and gave the company a “market outperform” rating in a research report on Friday, August 2nd. Truist Financial upped their price objective on DoorDash from $145.00 to $150.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Morgan Stanley lifted their target price on DoorDash from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, BTIG Research upgraded shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research report on Thursday, September 19th. Ten equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $145.50.

DoorDash Price Performance

Shares of DoorDash stock opened at $143.02 on Wednesday. DoorDash has a 1-year low of $69.90 and a 1-year high of $146.36. The company has a market capitalization of $58.86 billion, a P/E ratio of -132.43, a PEG ratio of 295.70 and a beta of 1.69. The business’s fifty day moving average price is $124.38 and its two-hundred day moving average price is $121.86.

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

Insider Buying and Selling at DoorDash

In other DoorDash news, insider Keith Yandell sold 6,554 shares of DoorDash stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other DoorDash news, CEO Tony Xu sold 54,166 shares of the company’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 $5,836,386.50. The sale was disclosed in a document filed with the SEC, 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 sale, the insider now directly owns 155,097 shares of the company’s stock, valued at $16,711,701.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 350,223 shares of company stock worth $41,391,523. 7.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DoorDash

Hedge funds have recently added to or reduced their stakes in the company. ORG Partners LLC lifted its stake 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 acquiring an additional 253 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of DoorDash during the 2nd quarter worth $32,000. Meeder Asset Management Inc. raised its holdings in shares of DoorDash by 82.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after purchasing an additional 132 shares in the last quarter. Hollencrest Capital Management acquired a new stake in shares of DoorDash in the 1st quarter valued at $42,000. Finally, Versant Capital Management Inc boosted its holdings in DoorDash by 340.8% in the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after purchasing an additional 259 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Company Profile

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.