DoorDash’s (DASH) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of DoorDash (NASDAQ:DASH) in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has a $160.00 price objective on the stock.

A number of other research analysts have also issued reports on the stock. Piper Sandler restated a neutral rating and set a $125.00 price target (up previously from $115.00) on shares of DoorDash in a research note on Friday, August 2nd. Wolfe Research initiated coverage on DoorDash in a research note on Tuesday, July 16th. They issued an outperform rating and a $130.00 target price for the company. BMO Capital Markets boosted their price target on DoorDash from $127.00 to $140.00 and gave the company an outperform rating in a research note on Friday, August 2nd. BTIG Research upgraded DoorDash from a neutral rating to a buy rating and set a $155.00 price objective for the company in a research note on Thursday, September 19th. Finally, Evercore ISI increased their price target on shares of DoorDash from $145.00 to $155.00 and gave the stock an outperform rating in a report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, DoorDash has an average rating of Moderate Buy and an average price target of $146.91.

DoorDash Stock Up 1.3 %

NASDAQ:DASH opened at $144.49 on Monday. DoorDash has a 1-year low of $69.90 and a 1-year high of $146.38. The company has a 50-day moving average of $131.85 and a 200 day moving average of $122.57.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data 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). DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter last year, the company earned ($0.44) earnings per share. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. As a group, analysts expect that DoorDash will post 0.01 EPS for the current fiscal year.

Insider Activity at DoorDash

In related news, CEO Tony Xu sold 54,166 shares of the stock in a transaction on 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 Securities & Exchange Commission, which is available through this link. In other news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were 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 Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ravi Inukonda sold 7,000 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $106.64, for a total transaction of $746,480.00. Following the sale, the chief financial officer now directly owns 417,223 shares of the company’s stock, valued at approximately $44,492,660.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 231,503 shares of company stock worth $28,709,563. Company insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

Hedge funds and other institutional investors have recently modified their holdings of the business. Meeder Asset Management Inc. raised its holdings in DoorDash by 82.0% in the second 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 bought a new position in shares of DoorDash during the second quarter worth about $32,000. Versant Capital Management Inc grew its stake 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. ORG Partners LLC increased its holdings 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 buying an additional 253 shares during the last quarter. Finally, Quest Partners LLC raised its stake in 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 buying an additional 204 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other 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.