DoorDash (NASDAQ:DASH) Given “Neutral” Rating at Wedbush

DoorDash (NASDAQ:DASH)‘s stock had its “neutral” rating reaffirmed by equities researchers at Wedbush in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $205.00 price target on the stock. Wedbush’s target price points to a potential upside of 7.80% from the company’s current price.

A number of other brokerages have also recently issued reports on DASH. TD Cowen restated a “buy” rating on shares of DoorDash in a report on Wednesday. Moffett Nathanson set a $276.00 price target on DoorDash in a research note on Wednesday, April 15th. Citigroup restated a “market outperform” rating on shares of DoorDash in a report on Monday, June 22nd. Zacks Research raised shares of DoorDash from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Finally, Piper Sandler decreased their target price on shares of DoorDash from $220.00 to $205.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $252.89.

DoorDash Trading Up 1.3%

Shares of NASDAQ:DASH opened at $190.16 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43. The stock has a market capitalization of $82.86 billion, a price-to-earnings ratio of 90.55 and a beta of 1.78. DoorDash has a 1-year low of $143.30 and a 1-year high of $285.50. The company has a 50 day moving average price of $169.05 and a 200 day moving average price of $177.96.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The company had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the prior year, the company earned $0.44 earnings per share. The firm’s revenue was up 33.1% on a year-over-year basis. On average, research analysts anticipate that DoorDash will post 2.4 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In related news, Director Stanley Tang sold 23,125 shares of the company’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $191.19, for a total transaction of $4,421,268.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 21,739 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $155.25, for a total value of $3,374,979.75. Following the completion of the sale, the chief operating officer directly owned 959,076 shares of the company’s stock, valued at approximately $148,896,549. This represents a 2.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 84,927 shares of company stock valued at $15,124,932 in the last ninety days. Company insiders own 5.83% of the company’s stock.

Institutional Investors Weigh In On DoorDash

A number of institutional investors have recently modified their holdings of DASH. Keel Point LLC lifted its holdings in DoorDash by 4.3% during the third quarter. Keel Point LLC now owns 1,393 shares of the company’s stock worth $379,000 after acquiring an additional 58 shares in the last quarter. CYBER HORNET ETFs LLC increased its holdings in shares of DoorDash by 6.5% in the fourth quarter. CYBER HORNET ETFs LLC now owns 979 shares of the company’s stock worth $222,000 after acquiring an additional 60 shares in the last quarter. Vise Technologies Inc. raised its position in shares of DoorDash by 1.8% during the fourth quarter. Vise Technologies Inc. now owns 3,517 shares of the company’s stock worth $796,000 after purchasing an additional 63 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in shares of DoorDash by 7.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 982 shares of the company’s stock worth $222,000 after purchasing an additional 64 shares during the period. Finally, Sunbelt Securities Inc. lifted its holdings in shares of DoorDash by 124.1% during the 3rd quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock valued at $33,000 after purchasing an additional 67 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.