DoorDash (NASDAQ:DASH) Given “Neutral” Rating at Piper Sandler

DoorDash (NASDAQ:DASH)‘s stock had its “neutral” rating restated by Piper Sandler in a note issued to investors on Friday, Benzinga reports. They presently have a $125.00 price objective on the stock, up from their previous price objective of $115.00. Piper Sandler’s price target would indicate a potential upside of 8.07% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Moffett Nathanson raised DoorDash from a “neutral” rating to a “buy” rating and increased their target price for the stock from $118.00 to $164.00 in a research note on Thursday, April 11th. Argus assumed coverage on DoorDash in a report on Tuesday, July 23rd. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft boosted their target price on DoorDash from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Needham & Company LLC boosted their price objective on DoorDash from $137.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Roth Mkm lowered their price target on shares of DoorDash from $121.00 to $118.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Ten analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $139.08.

DoorDash Price Performance

DASH traded up $7.47 on Friday, reaching $115.67. 4,261,643 shares of the company’s stock were exchanged, compared to its average volume of 3,994,533. DoorDash has a twelve month low of $69.90 and a twelve month high of $143.34. The stock has a market cap of $47.30 billion, a PE ratio of -109.44, a P/E/G ratio of 41.18 and a beta of 1.67. The stock’s fifty day moving average price is $109.27 and its 200-day moving average price is $118.16.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.28). The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period last year, the company earned ($0.44) EPS. As a group, research analysts predict that DoorDash will post 0.07 earnings per share for the current fiscal year.

Insider Activity at DoorDash

In other news, CEO Tony Xu sold 131,590 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $111.61, for a total transaction of $14,686,759.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other DoorDash news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $113.40, for a total value of $5,670,000.00. Following the sale, the director now owns 39,275 shares of the company’s stock, valued at $4,453,785. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Tony Xu sold 131,590 shares of DoorDash stock in a transaction on Monday, June 10th. The stock was sold at an average price of $111.61, for a total value of $14,686,759.90. The disclosure for this sale can be found here. Insiders have sold a total of 459,016 shares of company stock worth $50,325,396 over the last three months. 7.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DoorDash

Hedge funds have recently added to or reduced their stakes in the business. Venturi Wealth Management LLC grew its position in shares of DoorDash by 54.5% in the first quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock valued at $35,000 after purchasing an additional 90 shares during the last quarter. Everhart Financial Group Inc. boosted its stake in shares of DoorDash by 3.1% during the second quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company’s stock valued at $355,000 after acquiring an additional 99 shares during the last quarter. Hillsdale Investment Management Inc. raised its stake in DoorDash by 1.6% in the 4th quarter. Hillsdale Investment Management Inc. now owns 6,540 shares of the company’s stock valued at $647,000 after purchasing an additional 100 shares during the last quarter. Summit Trail Advisors LLC boosted its stake in shares of DoorDash by 0.3% during the 1st quarter. Summit Trail Advisors LLC now owns 36,925 shares of the company’s stock worth $5,085,000 after purchasing an additional 106 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of DoorDash by 17.2% during the first quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock worth $101,000 after buying an additional 108 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

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.