DoorDash (NASDAQ:DASH) Research Coverage Started at Rosenblatt Securities

Rosenblatt Securities started coverage on shares of DoorDash (NASDAQ:DASH) in a research report released on Tuesday, Marketbeat.com reports. The firm issued a buy rating and a $270.00 price target on the stock.

Several other research firms also recently commented on DASH. Guggenheim reiterated a “buy” rating and issued a $255.00 price objective on shares of DoorDash in a report on Tuesday, June 23rd. BTIG Research restated a “buy” rating and set a $225.00 target price on shares of DoorDash in a research note on Thursday, August 6th. Argus set a $190.00 price target on shares of DoorDash in a report on Thursday, June 11th. Citigroup reiterated a “market outperform” rating on shares of DoorDash in a research note on Monday, August 24th. Finally, TD Cowen boosted their price objective on shares of DoorDash from $225.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $254.97.

DoorDash Stock Performance

Shares of DASH opened at $222.00 on Tuesday. The company has a market cap of $96.19 billion, a price-to-earnings ratio of 116.23 and a beta of 1.79. The business’s fifty day simple moving average is $203.24 and its two-hundred day simple moving average is $178.31. DoorDash has a 12 month low of $143.30 and a 12 month high of $285.50. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). The business had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.34 billion. DoorDash had a return on equity of 8.48% and a net margin of 5.29%.The firm’s revenue for the quarter was up 35.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.65 EPS. Research analysts anticipate that DoorDash will post 2.49 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In other news, Director Stanley Tang sold 72,367 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $225.16, for a total transaction of $16,294,153.72. Following the completion of the sale, the director owned 10,361 shares of the company’s stock, valued at $2,332,882.76. This represents a 87.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Ravi Inukonda sold 19,505 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $220.62, for a total transaction of $4,303,193.10. Following the completion of the transaction, the chief financial officer owned 232,938 shares in the company, valued at $51,390,781.56. This trade represents a 7.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 353,718 shares of company stock worth $76,641,397 in the last ninety days. Insiders own 44.90% of the company’s stock.

Institutional Trading of DoorDash

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its stake in shares of DoorDash by 24.0% during the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock worth $1,566,000 after acquiring an additional 1,807 shares during the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of DoorDash by 21.5% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,715 shares of the company’s stock worth $314,000 after purchasing an additional 303 shares in the last quarter. Empowered Funds LLC raised its holdings in DoorDash by 3.6% in the 1st quarter. Empowered Funds LLC now owns 8,130 shares of the company’s stock worth $1,486,000 after purchasing an additional 285 shares during the period. Sivia Capital Partners LLC lifted its position in DoorDash by 92.9% during the second quarter. Sivia Capital Partners LLC now owns 4,255 shares of the company’s stock valued at $1,049,000 after purchasing an additional 2,049 shares in the last quarter. Finally, Baird Financial Group Inc. purchased a new position in DoorDash during the second quarter valued at $222,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

Key DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Rosenblatt initiated coverage with a Strong Buy rating, adding a favorable analyst view to DoorDash’s outlook and potentially supporting the stock’s valuation. Rosenblatt initiates coverage of DoorDash
• Positive Sentiment: DoorDash expanded its merchant and advertising ecosystem. Gap and Kohl’s are among retailers adding DoorDash delivery, while a partnership with Circana will provide independent validation of advertising-driven sales. Better measurement could make DoorDash’s retail-media business more attractive to consumer packaged goods advertisers. Retailers adding DoorDash delivery Circana and DoorDash advertising partnership
• Positive Sentiment: A new Live Nation partnership is designed to create food and fan-experience opportunities around live events, potentially adding engagement and order volume beyond DoorDash’s traditional restaurant business. DoorDash and Live Nation partnership
• Neutral Sentiment: Sands Capital Select Growth Fund sold its DoorDash position during the second quarter. The transaction may raise questions about institutional conviction, although it does not necessarily reflect DoorDash’s current operating outlook. Sands Capital sold DoorDash shares
• Negative Sentiment: Walmart is entering restaurant delivery through a new Dunkin’ partnership. The move could intensify competition with DoorDash and Uber Eats, particularly if Walmart uses its scale, customer base or delivery network to gain share. Walmart expands restaurant delivery
• Negative Sentiment: Multiple reports of problematic driver behavior and disputes over driver pay create potential reputational, customer-retention and regulatory risks, although the incidents appear isolated and DoorDash has removed or banned drivers involved in some cases. DoorDash delivery complaint DoorDash driver pay dispute

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.