DoorDash (NASDAQ:DASH) Trading 7.8% Higher – Should You Buy?

DoorDash, Inc. (NASDAQ:DASH)’s share price shot up 7.8% during trading on Wednesday . The company traded as high as $177.18 and last traded at $176.2720. 2,493,369 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 4,876,530 shares. The stock had previously closed at $163.55.

Analysts Set New Price Targets

DASH has been the topic of several recent research reports. Bank of America boosted their price objective on shares of DoorDash from $260.00 to $272.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Citigroup decreased their price objective on shares of DoorDash from $283.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Sanford C. Bernstein reduced their target price on shares of DoorDash from $285.00 to $270.00 and set an “outperform” rating on the stock in a report on Thursday, February 19th. Benchmark increased their target price on DoorDash from $280.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Finally, Stifel Nicolaus lowered their price target on DoorDash from $215.00 to $185.00 and set a “hold” rating for the company in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $261.32.

DoorDash Price Performance

The firm has a market capitalization of $77.17 billion, a price-to-earnings ratio of 84.04 and a beta of 1.93. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.41 and a current ratio of 1.41. The company’s fifty day moving average price is $166.36 and its 200 day moving average price is $207.14.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, February 18th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.10). The business had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.98 billion. DoorDash had a net margin of 6.82% and a return on equity of 10.15%. The business’s quarterly revenue was up 37.7% on a year-over-year basis. During the same period last year, the firm posted $0.33 EPS. Equities research analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Shona L. Brown sold 1,250 shares of DoorDash stock in a transaction on Monday, March 9th. The stock was sold at an average price of $176.61, for a total transaction of $220,762.50. Following the transaction, the director owned 31,002 shares in the company, valued at approximately $5,475,263.22. The trade was a 3.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stanley Tang sold 45,410 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $209.01, for a total value of $9,491,144.10. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 94,406 shares of company stock valued at $17,825,074. 5.83% of the stock is owned by corporate insiders.

Institutional Trading of DoorDash

Several institutional investors have recently made changes to their positions in DASH. Norges Bank acquired a new stake in DoorDash during the fourth quarter valued at approximately $1,093,650,000. Wellington Management Group LLP lifted its holdings in shares of DoorDash by 593.1% during the fourth quarter. Wellington Management Group LLP now owns 5,481,693 shares of the company’s stock valued at $1,241,494,000 after acquiring an additional 4,690,744 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of DoorDash by 32.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company’s stock valued at $3,161,234,000 after acquiring an additional 3,447,754 shares during the period. Coatue Management LLC lifted its holdings in shares of DoorDash by 77.8% during the fourth quarter. Coatue Management LLC now owns 4,365,365 shares of the company’s stock valued at $988,668,000 after acquiring an additional 1,910,488 shares during the period. Finally, Alyeska Investment Group L.P. bought a new position in shares of DoorDash during the fourth quarter valued at $372,128,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Company Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.