Cantor Fitzgerald Reaffirms Overweight Rating for DoorDash (NASDAQ:DASH)

Cantor Fitzgerald reiterated their overweight rating on shares of DoorDash (NASDAQ:DASH) in a research note released on Monday, Benzinga reports. Cantor Fitzgerald currently has a $160.00 price target on the stock.

Other research analysts also recently issued research reports about the stock. UBS Group upped their target price on shares of DoorDash from $125.00 to $143.00 and gave the stock a neutral rating in a research note on Friday, August 2nd. Oppenheimer upped their target price on shares of DoorDash from $145.00 to $160.00 and gave the stock an outperform rating in a research note on Friday, September 27th. JPMorgan Chase & Co. upped their target price on shares of DoorDash from $111.00 to $137.00 and gave the stock a neutral rating in a research note on Friday, August 2nd. Raymond James began coverage on shares of DoorDash in a research note on Tuesday, September 24th. They issued an outperform rating and a $155.00 target price on the stock. Finally, Morgan Stanley upped their target price on shares of DoorDash from $145.00 to $150.00 and gave the stock an overweight rating in a research note on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $146.44.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $142.12 on Monday. DoorDash has a 1 year low of $69.90 and a 1 year high of $146.36. The stock has a market cap of $58.11 billion, a P/E ratio of -131.59, a price-to-earnings-growth ratio of 295.70 and a beta of 1.70. The firm has a 50-day moving average of $127.41 and a 200 day moving average of $122.12.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same period last year, the business earned ($0.44) earnings per share. The company’s revenue was up 23.3% on a year-over-year basis. Research analysts expect that DoorDash will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $105.57, for a total transaction of $5,278,500.00. Following the completion of the sale, the director now directly owns 19,982 shares of the company’s stock, valued at $2,109,499.74. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other DoorDash news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $140.06, for a total value of $7,586,489.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $105.57, for a total transaction of $5,278,500.00. Following the completion of the transaction, the director now owns 19,982 shares of the company’s stock, valued at $2,109,499.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 281,503 shares of company stock valued at $33,988,063. Insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Hedge funds have recently modified their holdings of the company. Meeder Asset Management Inc. boosted its position in shares of DoorDash by 82.0% in the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after purchasing an additional 132 shares during the period. Headlands Technologies LLC bought a new position in shares of DoorDash during the second quarter worth $32,000. Versant Capital Management Inc boosted its position in shares of DoorDash by 340.8% during the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after acquiring an additional 259 shares during the last quarter. ORG Partners LLC boosted its position in shares of DoorDash by 2,108.3% during the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock worth $37,000 after acquiring an additional 253 shares during the last quarter. Finally, Quest Partners LLC boosted its position in shares of DoorDash by 146.8% during the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after acquiring an additional 204 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

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.