DoorDash’s (DASH) Buy Rating Reaffirmed at BTIG Research

DoorDash (NASDAQ:DASH)‘s stock had its “buy” rating reiterated by equities research analysts at BTIG Research in a note issued to investors on Wednesday, Benzinga reports. They presently have a $225.00 price objective on the stock. BTIG Research‘s price target indicates a potential upside of 20.29% from the company’s current price.

Several other equities research analysts have also commented on DASH. Jefferies Financial Group upped their price target on shares of DoorDash from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Moffett Nathanson reduced their price target on shares of DoorDash from $280.00 to $278.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Guggenheim reaffirmed a “buy” rating and set a $255.00 price target on shares of DoorDash in a research report on Wednesday, October 14th. TD Cowen upped their price target on shares of DoorDash from $225.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $265.00 price target on shares of DoorDash in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and a consensus price target of $254.95.

DoorDash Stock Performance

NASDAQ:DASH traded down $4.62 during mid-day trading on Wednesday, reaching $187.05. The company’s stock had a trading volume of 867,627 shares, compared to its average volume of 4,559,648. DoorDash has a 12-month low of $143.30 and a 12-month high of $269.00. The stock has a market cap of $81.05 billion, a P/E ratio of 97.93 and a beta of 1.90. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. The firm’s fifty day moving average price is $204.10 and its two-hundred day moving average price is $184.78.

DoorDash (NASDAQ:DASH) last released 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 business had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.34 billion. During the same period in the previous year, the company earned $0.65 EPS. DoorDash’s revenue for the quarter was up 35.6% compared to the same quarter last year. On average, equities analysts forecast that DoorDash will post 2.51 EPS for the current fiscal year.

Insider Activity at DoorDash

In related news, CEO Tony Xu sold 29,567 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $230.00, for a total transaction of $6,800,410.00. Following the completion of the transaction, the chief executive officer directly owned 1,500 shares in the company, valued at approximately $345,000. The trade was a 95.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andy Fang sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $228.31, for a total value of $3,424,650.00. 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 sold a total of 393,998 shares of company stock worth $85,861,330 in the last quarter. 44.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Sowell Financial Services LLC lifted its position in 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 buying an additional 19,799 shares during the last quarter. City State Bank lifted 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 during the last quarter. Quadrant Capital Group LLC lifted its position in DoorDash by 429.2% in the third quarter. Quadrant Capital Group LLC now owns 34,022 shares of the company’s stock worth $6,245,000 after buying an additional 27,593 shares during the last quarter. Physician Wealth Advisors Inc. lifted its position in DoorDash by 2,208.4% in the third quarter. Physician Wealth Advisors Inc. now owns 2,747 shares of the company’s stock worth $504,000 after buying an additional 2,628 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in DoorDash by 352.8% in the third quarter. Nisa Investment Advisors LLC now owns 180,528 shares of the company’s stock worth $33,136,000 after buying an additional 140,659 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.