DoorDash (NASDAQ:DASH) Rating Increased to Hold at Zacks Research

DoorDash (NASDAQ:DASH) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other equities analysts also recently commented on DASH. KeyCorp dropped their target price on shares of DoorDash from $280.00 to $275.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 14th. Truist Financial lifted their price target on shares of DoorDash from $330.00 to $336.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Wells Fargo & Company boosted their price target on DoorDash from $199.00 to $225.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Weiss Ratings reissued a “hold (c)” rating on shares of DoorDash in a research note on Friday, August 7th. Finally, Susquehanna raised their price objective on DoorDash from $225.00 to $250.00 and gave the stock a “positive” rating in a report on Friday, August 7th. Twenty-three analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $254.09.

DoorDash Trading Up 1.7%

NASDAQ DASH opened at $216.35 on Monday. The company’s 50-day moving average price is $188.55 and its 200-day moving average price is $174.89. 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 stock has a market cap of $93.74 billion, a PE ratio of 113.27 and a beta of 1.78. DoorDash has a 12 month low of $143.30 and a 12 month high of $285.50.

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 return on equity of 8.48% and a net margin of 5.29%.The company had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.34 billion. During the same period in the prior year, the business earned $0.65 EPS. The company’s quarterly revenue was up 35.6% on a year-over-year basis. Equities research analysts forecast that DoorDash will post 2.47 earnings per share for the current year.

Insider Activity

In other DoorDash news, General Counsel Tia Sherringham sold 2,743 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $160.79, for a total transaction of $441,046.97. Following the completion of the sale, the general counsel owned 128,216 shares in the company, valued at $20,615,850.64. This represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a 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, COO Prabir Adarkar sold 21,739 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total value of $3,374,979.75. Following the sale, the chief operating officer directly owned 959,076 shares in the company, valued at $148,896,549. This trade represents a 2.22% 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. In the last quarter, insiders sold 142,620 shares of company stock valued at $26,822,778. 5.28% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DoorDash

A number of hedge funds have recently made changes to their positions in the stock. CYBER HORNET ETFs LLC raised its position in DoorDash by 6.5% during the fourth quarter. CYBER HORNET ETFs LLC now owns 979 shares of the company’s stock worth $222,000 after acquiring an additional 60 shares during the last quarter. Vise Technologies Inc. grew its position in shares of DoorDash by 1.8% in the fourth quarter. Vise Technologies Inc. now owns 3,517 shares of the company’s stock valued at $796,000 after purchasing an additional 63 shares during the last quarter. Sunbelt Securities Inc. grew its position in shares of DoorDash by 124.1% in the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock valued at $33,000 after purchasing an additional 67 shares during the last quarter. AXS Investments LLC increased its stake in shares of DoorDash by 1.3% during the 4th quarter. AXS Investments LLC now owns 5,438 shares of the company’s stock worth $1,232,000 after purchasing an additional 69 shares in the last quarter. Finally, Mutual Advisors LLC increased its stake in shares of DoorDash by 3.1% during the 4th quarter. Mutual Advisors LLC now owns 2,371 shares of the company’s stock worth $537,000 after purchasing an additional 71 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Key DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Expanded retail partnerships broaden DoorDash’s addressable market. DoorDash is making back-to-school shopping available through Barnes & Noble, Carter’s and Kohl’s, while Australia’s BIG W is launching same-day delivery through the platform. These deals could increase order frequency and diversify revenue beyond restaurant delivery. DoorDash Makes Back-to-School Shopping Easier with Barnes & Noble, Carter’s, and Kohl’s BIG W launches same-day delivery through DoorDash partnership
• Positive Sentiment: DoorDash is expanding into video-game commerce. The company has begun selling video games, apparently using pickup or retailer fulfillment rather than delivering the products directly. The initiative is strategically positive because it extends DoorDash’s marketplace into another high-demand retail category, though the near-term financial impact is likely limited. DoorDash starts selling video games but won’t drop them at your door
• Positive Sentiment: Autonomous delivery could improve long-term operating efficiency. DoorDash and Grubhub are taking delivery robots previously unwanted by Uber, and DoorDash’s robotics partnerships are expanding. Wider robot deployment could eventually reduce delivery costs and support higher order volumes, although the articles provide no timeline or quantified savings. Grubhub and DoorDash are taking the delivery robots Uber didn’t want
• Neutral Sentiment: Reports that DoorDash and Uber Eats will avoid raising prices after delivery-worker minimum wages were locked in may help preserve customer demand, but could constrain margins if labor costs rise. UberEats and DoorDash to avoid increasing prices
• Negative Sentiment: A wrongful-death lawsuit connected to a customer killed while picking up a DoorDash order creates some reputational and potential legal overhang, although the reported claims target the alleged shooter and Popeyes rather than clearly identifying DoorDash as a defendant. Mother of man killed while picking up DoorDash order sues Popeyes and alleged shooter

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.