DoorDash (NASDAQ:DASH) Raised to Buy at BTIG Research

BTIG Research upgraded shares of DoorDash (NASDAQ:DASH - Free Report) from a neutral rating to a buy rating in a report issued on Thursday, Marketbeat Ratings reports. They currently have $155.00 price target on the stock.

DASH has been the topic of several other reports. Cantor Fitzgerald began coverage on DoorDash in a research report on Thursday, September 5th. They set an overweight rating and a $160.00 price target on the stock. JMP Securities increased their price objective on shares of DoorDash from $140.00 to $145.00 and gave the company a market outperform rating in a report on Friday, August 2nd. DA Davidson upped their price target on shares of DoorDash from $110.00 to $119.00 and gave the company a neutral rating in a report on Monday, August 5th. Susquehanna lifted their target price on DoorDash from $135.00 to $140.00 and gave the stock a positive rating in a report on Monday, August 5th. Finally, Wells Fargo & Company boosted their price target on shares of DoorDash from $125.00 to $127.00 and gave the company an equal weight rating in a report on Friday, August 2nd. Eleven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $143.00.

DoorDash Trading Up 3.6 %

Shares of DoorDash stock traded up $4.81 during trading hours on Thursday, reaching $137.29. The stock had a trading volume of 4,629,346 shares, compared to its average volume of 3,962,175. DoorDash has a 1 year low of $69.90 and a 1 year high of $143.34. The firm has a 50 day simple moving average of $120.04 and a two-hundred day simple moving average of $121.42. The firm has a market capitalization of $56.14 billion, a price-to-earnings ratio of -127.20, a P/E/G ratio of 275.59 and a beta of 1.69.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.29). DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same period in the previous year, the firm posted ($0.44) earnings per share. The company's revenue for the quarter was up 23.3% on a year-over-year basis. Sell-side analysts forecast that DoorDash will post 0.01 EPS for the current year.

Insider Transactions at DoorDash

In other DoorDash news, insider Keith Yandell sold 6,554 shares of DoorDash stock in a transaction on Monday, July 1st. The stock was sold at an average price of $107.75, for a total transaction of $706,193.50. Following the completion of the transaction, the insider now directly owns 155,097 shares of the company's stock, valued at $16,711,701.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other DoorDash news, insider Keith Yandell sold 6,554 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $107.75, for a total transaction of $706,193.50. Following the sale, the insider now owns 155,097 shares of the company's stock, valued at approximately $16,711,701.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total value of $6,510,000.00. Following the completion of the sale, the director now directly owns 18,089 shares of the company's stock, valued at $2,355,187.80. The disclosure for this sale can be found here. In the last three months, insiders sold 304,769 shares of company stock valued at $34,760,113. Company insiders own 7.92% of the company's stock.

Institutional Trading of DoorDash

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of DoorDash by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company's stock worth $2,897,823,000 after buying an additional 2,259,976 shares during the last quarter. Baillie Gifford & Co. grew its position in DoorDash by 0.8% during the second quarter. Baillie Gifford & Co. now owns 12,497,488 shares of the company's stock worth $1,359,477,000 after buying an additional 94,241 shares in the last quarter. Capital World Investors raised its stake in DoorDash by 0.8% in the first quarter. Capital World Investors now owns 9,470,247 shares of the company's stock valued at $1,304,242,000 after purchasing an additional 74,504 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of DoorDash by 4.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,469,647 shares of the company's stock worth $753,281,000 after acquiring an additional 242,956 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in shares of DoorDash by 11,416.7% during the 1st quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company's stock worth $475,837,000 after buying an additional 3,425,115 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.

About DoorDash

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.