DoorDash (NASDAQ:DASH) Rating Increased to Buy at Argus

DoorDash (NASDAQ:DASH - Get Free Report) was upgraded by equities researchers at Argus from a "hold" rating to a "buy" rating in a research report issued on Friday, MarketBeat Ratings reports.

Other equities analysts have also issued reports about the company. The Goldman Sachs Group lifted their price objective on DoorDash from $142.00 to $161.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. Raymond James initiated coverage on shares of DoorDash in a research note on Tuesday, September 24th. They set an "outperform" rating and a $155.00 price objective for the company. Cantor Fitzgerald reissued an "overweight" rating and issued a $160.00 target price on shares of DoorDash in a research note on Monday, October 7th. Needham & Company LLC lifted their target price on shares of DoorDash from $145.00 to $180.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company increased their price target on DoorDash from $127.00 to $142.00 and gave the company an "equal weight" rating in a report on Friday, October 4th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $168.39.

DoorDash Trading Up 2.0 %

DASH traded up $3.35 during midday trading on Friday, hitting $171.00. The company's stock had a trading volume of 5,887,988 shares, compared to its average volume of 3,730,564. 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 has a 52-week low of $93.33 and a 52-week high of $181.78. The firm has a 50-day moving average price of $167.15 and a two-hundred day moving average price of $137.10.

DoorDash (NASDAQ:DASH - Get Free Report) 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. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter last year, the firm posted ($0.19) earnings per share. DoorDash's revenue was up 25.0% on a year-over-year basis. On average, equities analysts expect that DoorDash will post 0.26 EPS for the current year.

Insider Activity

In other DoorDash news, CEO Tony Xu sold 108,332 shares of the business's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $178.74, for a total transaction of $19,363,261.68. Following the sale, the chief executive officer now directly owns 1,500 shares of the company's stock, valued at $268,110. The trade was a 98.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stanley Tang sold 1,855 shares of the firm's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total value of $315,312.90. Following the completion of the sale, the director now directly owns 35,413 shares of the company's stock, valued at approximately $6,019,501.74. This trade represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 951,528 shares of company stock worth $159,212,079. Insiders own 7.92% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Principal Financial Group Inc. increased its holdings in shares of DoorDash by 25.0% in the 3rd quarter. Principal Financial Group Inc. now owns 90,786 shares of the company's stock valued at $12,958,000 after purchasing an additional 18,155 shares during the period. Lord Abbett & CO. LLC increased its stake in DoorDash by 1.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 750,119 shares of the company's stock valued at $107,064,000 after buying an additional 8,195 shares during the period. Franklin Resources Inc. boosted its stake in shares of DoorDash by 15.2% during the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company's stock valued at $570,135,000 after buying an additional 501,905 shares during the period. Tri Ri Asset Management Corp purchased a new position in shares of DoorDash during the 3rd quarter valued at $6,250,000. Finally, Tidal Investments LLC increased its stake in shares of DoorDash by 19.9% in the third quarter. Tidal Investments LLC now owns 12,321 shares of the company's stock worth $1,759,000 after acquiring an additional 2,049 shares during the last quarter. 90.64% of the stock is 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.