DoorDash (NASDAQ:DASH) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of DoorDash (NASDAQ:DASH) from a hold rating to a buy rating in a research report released on Saturday morning.

Other analysts also recently issued research reports about the company. UBS Group raised their price target on DoorDash from $260.00 to $280.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. KeyCorp reissued an “overweight” rating and issued a $325.00 price target (up previously from $295.00) on shares of DoorDash in a report on Thursday, August 7th. BTIG Research raised their price target on DoorDash from $225.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, July 1st. Mizuho set a $350.00 target price on DoorDash and gave the company an “outperform” rating in a research note on Monday, September 29th. Finally, Morgan Stanley lifted their target price on DoorDash from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $275.27.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $273.52 on Friday. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. DoorDash has a fifty-two week low of $143.37 and a fifty-two week high of $285.08. The firm has a 50-day simple moving average of $258.72 and a 200 day simple moving average of $227.83. The company has a market cap of $116.85 billion, a PE ratio of 151.96 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.23. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The business’s revenue was up 24.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.38) EPS. On average, sell-side analysts anticipate that DoorDash will post 2.22 EPS for the current year.

Insider Buying and Selling

In other news, Director Andy Fang sold 30,000 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $268.20, for a total value of $8,046,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Prabir Adarkar sold 30,000 shares of the business’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $270.60, for a total value of $8,118,000.00. Following the completion of the sale, the chief operating officer directly owned 914,547 shares in the company, valued at $247,476,418.20. This represents a 3.18% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 966,887 shares of company stock worth $241,420,442. 5.83% of the stock is owned by corporate insiders.

Institutional Trading of DoorDash

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of DoorDash by 25.8% in the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock worth $7,200,642,000 after acquiring an additional 8,073,882 shares during the last quarter. Norges Bank acquired a new position in shares of DoorDash in the 2nd quarter worth $1,185,576,000. AQR Capital Management LLC grew its holdings in shares of DoorDash by 442.5% in the 1st quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company’s stock worth $321,799,000 after acquiring an additional 1,497,636 shares during the last quarter. Invesco Ltd. grew its holdings in shares of DoorDash by 41.9% in the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company’s stock worth $877,269,000 after acquiring an additional 1,416,194 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of DoorDash in the 1st quarter worth $211,415,000. Institutional investors own 90.64% of the company’s stock.

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.