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

DoorDash (NASDAQ:DASH)‘s stock had its “buy” rating restated by research analysts at BTIG Research in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $225.00 price objective on the stock. BTIG Research‘s target price indicates a potential upside of 17.39% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Sanford C. Bernstein reissued an “outperform” rating on shares of DoorDash in a research note on Thursday, September 3rd. Barclays lowered DoorDash from an “equal weight” rating to a “strong sell” rating in a research note on Monday, August 24th. The Goldman Sachs Group dropped their price target on DoorDash from $280.00 to $275.00 in a research note on Thursday, August 6th. KeyCorp dropped their price target on DoorDash from $280.00 to $275.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 14th. Finally, Zacks Research raised DoorDash from a “strong sell” rating to a “hold” rating in a research report on Monday, August 17th. Two investment 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’s stock. According to data from MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and an average target price of $254.95.

DoorDash Price Performance

DoorDash stock opened at $191.67 on Wednesday. The stock’s 50 day moving average is $204.10 and its 200 day moving average is $184.78. 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 firm has a market cap of $83.05 billion, a P/E ratio of 100.35 and a beta of 1.90. DoorDash has a one year low of $143.30 and a one year high of $269.00.

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

Insider Transactions at DoorDash

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

Institutional Investors Weigh In On DoorDash

Several hedge funds have recently made changes to their positions in DASH. Activest Wealth Management increased its position in DoorDash by 892.9% during the third quarter. Activest Wealth Management now owns 139 shares of the company’s stock valued at $26,000 after acquiring an additional 125 shares during the last quarter. Washington Trust Advisors Inc. increased its position in DoorDash by 81.0% in the second quarter. Washington Trust Advisors Inc. now owns 143 shares of the company’s stock worth $26,000 after buying an additional 64 shares in the last quarter. City State Bank increased its position in DoorDash by 56.0% in the third quarter. City State Bank now owns 156 shares of the company’s stock worth $29,000 after buying an additional 56 shares in the last quarter. Clark Wealth Partners grew its position in shares of DoorDash by 833.3% during the third quarter. Clark Wealth Partners now owns 196 shares of the company’s stock worth $36,000 after purchasing an additional 175 shares in the last quarter. Finally, CENTRAL TRUST Co boosted its stake in DoorDash by 269.4% during the first quarter. CENTRAL TRUST Co now owns 266 shares of the company’s stock valued at $40,000 after buying an additional 194 shares during the last quarter. 90.64% of the stock is currently owned by 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.