DoorDash, Inc. (NASDAQ:DASH) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Shares of DoorDash, Inc. (NASDAQ:DASH) have been given an average rating of “Moderate Buy” by the forty-three brokerages that are currently covering the firm, MarketBeat.com reports. Ten analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $249.88.

DASH has been the topic of a number of analyst reports. UBS Group cut their price objective on shares of DoorDash from $225.00 to $213.00 and set a “neutral” rating on the stock in a report on Friday. Piper Sandler reiterated a “neutral” rating and issued a $220.00 target price (up from $205.00) on shares of DoorDash in a report on Thursday, August 6th. Scotiabank dropped their price target on shares of DoorDash from $275.00 to $235.00 and set a “sector outperform” rating on the stock in a research report on Friday, October 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $240.00 price target on shares of DoorDash in a research report on Friday, October 30th. Finally, Raymond James Financial restated a “buy” rating on shares of DoorDash in a report on Thursday, September 3rd.

More DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Some analyst coverage was supportive, including a Wedbush upgrade, a higher price target, and Cantor Fitzgerald reiterating its Overweight rating. DoorDash upgraded at Wedbush
• Neutral Sentiment: DoorDash is promoting $12 meal deals and holiday offerings, which may attract customers but are unlikely to resolve investor concerns about the acquisition and could involve promotional costs. DoorDash enters the restaurant value wars with a $12 meal deal
  DoorDash holiday perks and deals
• Negative Sentiment: The proposed $17 billion Instacart acquisition is a major financial and integration undertaking. Reports that DoorDash has told employees not to connect with Instacart peers underscore deal sensitivity, while FTC scrutiny of pricing and Dasher pay raises the prospect of regulatory hurdles. FTC scrutiny of DoorDash pricing and Dasher pay
  DoorDash tells employees not to connect with Instacart peers

DoorDash Stock Down 3.6%

Shares of NASDAQ:DASH opened at $183.32 on Friday. The stock has a market cap of $79.43 billion, a price-to-earnings ratio of 75.75 and a beta of 1.98. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.25. DoorDash has a 12-month low of $143.30 and a 12-month high of $244.17. The business’s 50 day moving average is $196.26 and its 200 day moving average is $182.83.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Thursday, October 29th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.25. The business had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.56 billion. DoorDash had a return on equity of 10.40% and a net margin of 6.23%. DoorDash’s revenue was up 34.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.55 earnings per share. On average, sell-side analysts forecast that DoorDash will post 2.66 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In other news, Director Stanley Tang sold 23,125 shares of the company’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $186.19, for a total value of $4,305,643.75. Following the completion of the transaction, the director directly owned 10,361 shares of the company’s stock, valued at $1,929,114.59. This represents a 69.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 of the company’s stock, valued at $166,648,392.05. The trade was a 0.94% decrease in their ownership of the stock. 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 90 days, insiders have sold 326,305 shares of company stock worth $72,280,083. Company insiders own 44.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Washington Trust Advisors Inc. boosted its holdings in shares of DoorDash by 81.0% in the 2nd quarter. Washington Trust Advisors Inc. now owns 143 shares of the company’s stock worth $26,000 after buying an additional 64 shares during the last quarter. Activest Wealth Management grew 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 buying an additional 125 shares during the period. City State Bank grew its position in DoorDash by 56.0% during the third quarter. City State Bank now owns 156 shares of the company’s stock valued at $29,000 after buying an additional 56 shares during the period. Signature Equity Partners LLC increased its holdings in DoorDash by 213.5% during the third quarter. Signature Equity Partners LLC now owns 163 shares of the company’s stock worth $30,000 after buying an additional 111 shares during the last quarter. Finally, Clark Wealth Partners increased its holdings in DoorDash by 833.3% during the third quarter. Clark Wealth Partners now owns 196 shares of the company’s stock worth $36,000 after buying an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

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.