DoorDash’s (DASH) “Market Outperform” Rating Reaffirmed at JMP Securities

JMP Securities reiterated their market outperform rating on shares of DoorDash (NASDAQ:DASH) in a research note released on Thursday, Benzinga reports. The brokerage currently has a $140.00 price objective on the stock.

A number of other equities research analysts have also commented on DASH. Deutsche Bank Aktiengesellschaft increased their price target on DoorDash from $140.00 to $155.00 and gave the company a buy rating in a research report on Tuesday, April 16th. Citigroup upped their price objective on DoorDash from $141.00 to $144.00 and gave the company a buy rating in a research note on Thursday, May 2nd. Wedbush restated a neutral rating and issued a $115.00 price objective on shares of DoorDash in a research note on Thursday, May 2nd. Benchmark reduced their price objective on DoorDash from $165.00 to $150.00 and set a buy rating for the company in a research note on Thursday, May 2nd. Finally, Roth Mkm reduced their price objective on DoorDash from $121.00 to $118.00 and set a neutral rating for the company in a research note on Thursday, May 2nd. Nine investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, DoorDash currently has an average rating of Moderate Buy and an average price target of $134.60.

DoorDash Trading Up 5.8 %

NASDAQ DASH opened at $106.10 on Thursday. The firm has a market capitalization of $43.39 billion, a P/E ratio of -98.24, a PEG ratio of 30.98 and a beta of 1.67. The business has a fifty day simple moving average of $110.86 and a 200 day simple moving average of $118.09. DoorDash has a 12 month low of $69.90 and a 12 month high of $143.34.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.45 billion. DoorDash had a negative return on equity of 6.28% and a negative net margin of 4.61%. DoorDash’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.41) EPS. As a group, sell-side analysts predict that DoorDash will post 0.09 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Shona L. Brown sold 1,712 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $110.97, for a total transaction of $189,980.64. Following the sale, the director now owns 70,191 shares of the company’s stock, valued at approximately $7,789,095.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Shona L. Brown sold 1,712 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $110.97, for a total transaction of $189,980.64. Following the sale, the director now owns 70,191 shares of the company’s stock, valued at approximately $7,789,095.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tony Xu sold 54,166 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $104.96, for a total value of $5,685,263.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 459,016 shares of company stock valued at $50,495,566. Corporate insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

Institutional investors and hedge funds have recently modified their holdings of the business. Spire Wealth Management purchased a new stake in shares of DoorDash in the 1st quarter valued at about $25,000. Venturi Wealth Management LLC raised its holdings in shares of DoorDash by 54.5% in the 1st quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock valued at $35,000 after acquiring an additional 90 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of DoorDash by 340.8% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after acquiring an additional 259 shares in the last quarter. ORG Partners LLC raised its holdings in shares of DoorDash by 2,108.3% in the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after acquiring an additional 253 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in shares of DoorDash by 141.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 352 shares of the company’s stock valued at $38,000 after acquiring an additional 206 shares in the last quarter. Hedge funds and other institutional investors 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.