BTIG Research Reaffirms “Buy” Rating for DoorDash (NASDAQ:DASH)

DoorDash (NASDAQ:DASH)‘s stock had its “buy” rating restated by equities research analysts at BTIG Research in a research note issued on Wednesday, Benzinga reports. They currently have a $225.00 price target on the stock. BTIG Research‘s price objective points to a potential upside of 20.58% from the company’s previous close.

Several other analysts have also issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of DoorDash in a research report on Friday, August 7th. Susquehanna raised their price objective on shares of DoorDash from $225.00 to $250.00 and gave the stock a “positive” rating in a report on Friday, August 7th. Wells Fargo & Company lifted their price objective on shares of DoorDash from $225.00 to $230.00 and gave the company a “cautious” rating in a research note on Monday, October 5th. Benchmark boosted their target price on shares of DoorDash from $270.00 to $295.00 in a report on Thursday, August 6th. Finally, Guggenheim restated a “buy” rating and set a $255.00 target price on shares of DoorDash in a research report on Wednesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.95.

DoorDash Stock Performance

Shares of DASH traded down $5.07 during mid-day trading on Wednesday, hitting $186.61. The stock had a trading volume of 1,132,698 shares, compared to its average volume of 4,561,420. DoorDash has a 52 week low of $143.30 and a 52 week high of $269.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37. The business has a fifty day moving average price of $204.10 and a 200-day moving average price of $184.78. The firm has a market cap of $80.86 billion, a P/E ratio of 97.69 and a beta of 1.90.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data 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 firm 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 company’s revenue was up 35.6% compared to the same quarter last year. During the same period last year, the business posted $0.65 EPS. On average, equities research analysts expect that DoorDash will post 2.51 EPS for the current year.

Insider Buying and Selling at DoorDash

In other DoorDash news, COO Prabir Adarkar sold 8,738 shares of the stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $180.85, for a total value of $1,580,267.30. Following the sale, the chief operating officer directly owned 921,473 shares in the company, valued at $166,648,392.05. This represents a 0.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andy Fang sold 5,000 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $183.69, for a total transaction of $918,450.00. 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 393,998 shares of company stock worth $85,861,330 in the last ninety days. Insiders own 44.90% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DASH. Sowell Financial Services LLC grew its holdings in shares of DoorDash by 702.6% in the third quarter. Sowell Financial Services LLC now owns 22,617 shares of the company’s stock worth $4,151,000 after purchasing an additional 19,799 shares during the last quarter. City State Bank increased its position in shares of DoorDash by 56.0% in the third quarter. City State Bank now owns 156 shares of the company’s stock valued at $29,000 after acquiring an additional 56 shares during the period. Quadrant Capital Group LLC increased its position in shares of DoorDash by 429.2% in the third quarter. Quadrant Capital Group LLC now owns 34,022 shares of the company’s stock valued at $6,245,000 after acquiring an additional 27,593 shares during the period. Physician Wealth Advisors Inc. raised its stake in shares of DoorDash by 2,208.4% during the third quarter. Physician Wealth Advisors Inc. now owns 2,747 shares of the company’s stock valued at $504,000 after acquiring an additional 2,628 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of DoorDash by 352.8% during the third quarter. Nisa Investment Advisors LLC now owns 180,528 shares of the company’s stock valued at $33,136,000 after acquiring an additional 140,659 shares during the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

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.