DoorDash (NASDAQ:DASH) Given “Buy” Rating at BTIG Research

DoorDash (NASDAQ:DASH)‘s stock had its “buy” rating reissued by equities research analysts at BTIG Research in a research report issued on Wednesday, Benzinga reports. They currently have a $225.00 price objective on the stock. BTIG Research‘s target price suggests a potential upside of 20.60% from the stock’s current price.

DASH has been the subject of several other research reports. Wedbush increased their price target on DoorDash from $205.00 to $220.00 and gave the company a “neutral” rating in a report on Thursday, August 20th. Rosenblatt Securities initiated coverage on DoorDash in a report on Tuesday, September 1st. They issued a “buy” rating and a $270.00 price target for the company. Wells Fargo & Company increased their price target on DoorDash from $225.00 to $230.00 and gave the company a “cautious” rating in a report on Monday, October 5th. Scotiabank initiated coverage on DoorDash in a report on Wednesday, September 9th. They issued a “sector outperform” rating and a $275.00 price target for the company. Finally, Zacks Research raised DoorDash from a “strong sell” rating to a “hold” rating in a report on Monday, August 17th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and an average target price of $254.95.

DoorDash Price Performance

Shares of NASDAQ DASH traded down $5.10 during midday trading on Wednesday, hitting $186.57. The stock had a trading volume of 1,029,911 shares, compared to its average volume of 4,560,692. DoorDash has a 1 year low of $143.30 and a 1 year high of $269.00. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $80.84 billion, a PE ratio of 97.68 and a beta of 1.90. The stock has a 50 day simple moving average of $204.10 and a 200-day simple moving average of $184.78.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The company had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same period in the prior year, the business posted $0.65 EPS. DoorDash’s revenue for the quarter was up 35.6% compared to the same quarter last year. On average, sell-side analysts expect that DoorDash will post 2.51 EPS for the current fiscal year.

Insider Activity at DoorDash

In other DoorDash news, Director Andy Fang sold 5,000 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $183.69, for a total transaction of $918,450.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 23,125 shares of the firm’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $186.19, for a total value of $4,305,643.75. Following the sale, the director directly owned 10,361 shares of the company’s stock, valued at approximately $1,929,114.59. This trade represents a 69.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 393,998 shares of company stock valued at $85,861,330 over the last 90 days. Corporate insiders own 44.90% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Several hedge funds have recently bought and sold shares of the company. City State Bank lifted its holdings in DoorDash by 56.0% during the 3rd quarter. City State Bank now owns 156 shares of the company’s stock worth $29,000 after buying an additional 56 shares during the last quarter. Washington Trust Advisors Inc. lifted its holdings in DoorDash by 81.0% during the 2nd quarter. Washington Trust Advisors Inc. now owns 143 shares of the company’s stock worth $26,000 after buying an additional 64 shares during the last quarter. Premier Path Wealth Partners LLC lifted its holdings in DoorDash by 2.7% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 2,520 shares of the company’s stock worth $465,000 after buying an additional 67 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in DoorDash by 3.3% during the 1st quarter. V Square Quantitative Management LLC now owns 2,327 shares of the company’s stock worth $349,000 after buying an additional 74 shares during the last quarter. Finally, Rehmann Capital Advisory Group lifted its holdings in DoorDash by 8.0% during the 4th quarter. Rehmann Capital Advisory Group now owns 1,107 shares of the company’s stock worth $251,000 after buying an additional 82 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Company Profile

DoorDash, Inc (NASDAQ:DASH) operates a local commerce platform that connects consumers with restaurants, grocery stores, convenience retailers and other merchants. Through its website and mobile applications, customers can browse products, place orders for delivery or pickup, and access related services.

The company provides merchants with ordering, delivery, logistics, marketing and payment tools. Its offerings include the DoorDash Marketplace, subscription programs such as DashPass, and delivery infrastructure that merchants can use through services including DoorDash Drive.