DoorDash (NASDAQ:DASH) Upgraded by Argus to Buy Rating

Argus upgraded shares of DoorDash (NASDAQ:DASH) from a hold rating to a buy rating in a research report released on Friday morning, MarketBeat.com reports.

DASH has been the subject of a number of other research reports. Raymond James started coverage on DoorDash in a research report on Tuesday, September 24th. They set an “outperform” rating and a $155.00 price target for the company. KeyCorp increased their target price on shares of DoorDash from $177.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Truist Financial boosted their price objective on shares of DoorDash from $180.00 to $217.00 and gave the stock a “buy” rating in a research note on Tuesday. Jefferies Financial Group raised their target price on shares of DoorDash from $155.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Mizuho upped their price target on shares of DoorDash from $162.00 to $173.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and an average target price of $168.39.

DoorDash Price Performance

Shares of DASH stock opened at $171.00 on Friday. The firm’s 50-day simple moving average is $167.59 and its 200-day simple moving average is $137.52. DoorDash has a 1-year low of $93.33 and a 1-year high of $181.78. The firm has a market cap of $71.03 billion, a P/E ratio of -380.00, a PEG ratio of 13.56 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. The company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. DoorDash’s revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.19) earnings per share. Analysts expect that DoorDash will post 0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other DoorDash news, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $140.06, for a total value of $7,586,489.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $176.66, for a total transaction of $8,833,000.00. Following the transaction, the director now owns 16,176 shares of the company’s stock, valued at $2,857,652.16. This represents a 75.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 951,528 shares of company stock valued at $159,212,079 over the last quarter. Insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Rakuten Securities Inc. boosted its position in DoorDash by 302.3% during the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after acquiring an additional 130 shares during the period. Meeder Asset Management Inc. lifted its holdings in DoorDash by 82.0% in the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after purchasing an additional 132 shares during the period. Headlands Technologies LLC bought a new position in DoorDash in the 2nd quarter valued at about $32,000. Quest Partners LLC increased its stake in DoorDash by 146.8% during the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after buying an additional 204 shares during the period. Finally, Fifth Third Bancorp raised its position in shares of DoorDash by 136.4% during the 2nd quarter. Fifth Third Bancorp now owns 364 shares of the company’s stock worth $40,000 after buying an additional 210 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Company Profile

DoorDash, Inc, together with its subsidiaries, operates a commerce platform that connects merchants, consumers, and independent contractors in the United States and internationally. The company operates DoorDash Marketplace and Wolt Marketplace, which provide various services, such as customer acquisition, demand generation, order fulfillment, merchandising, payment processing, and customer support.