DoorDash (NASDAQ:DASH) Receives Buy Rating from Needham & Company LLC

DoorDash (NASDAQ:DASH)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a research report issued on Thursday, Benzinga reports. They presently have a $137.00 price objective on the stock. Needham & Company LLC’s price target points to a potential upside of 7.48% from the stock’s previous close.

DASH has been the topic of a number of other research reports. Piper Sandler raised DoorDash from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $53.00 to $127.00 in a research note on Friday, March 15th. Loop Capital started coverage on shares of DoorDash in a research report on Friday, April 19th. They issued a “buy” rating and a $170.00 price target for the company. Wells Fargo & Company lifted their price objective on shares of DoorDash from $100.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 4th. Susquehanna increased their target price on DoorDash from $110.00 to $135.00 and gave the company a “positive” rating in a report on Tuesday, February 20th. Finally, Oppenheimer lifted their price target on DoorDash from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Monday. Nine research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, DoorDash has a consensus rating of “Moderate Buy” and an average price target of $131.08.

DoorDash Stock Performance

Shares of NASDAQ:DASH opened at $127.46 on Thursday. The stock has a market capitalization of $51.49 billion, a price-to-earnings ratio of -89.13, a PEG ratio of 14.38 and a beta of 1.78. DoorDash has a 1-year low of $60.36 and a 1-year high of $143.34. The company has a 50 day moving average price of $131.90 and a 200 day moving average price of $109.72.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.24). The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.25 billion. DoorDash had a negative net margin of 6.46% and a negative return on equity of 8.49%. DoorDash’s revenue was up 26.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.63) EPS. On average, sell-side analysts expect that DoorDash will post 0.21 EPS for the current fiscal year.

Insider Activity at DoorDash

In other DoorDash news, Director Shona L. Brown sold 700 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $109.71, for a total value of $76,797.00. Following the completion of the sale, the director now owns 71,514 shares in the company, valued at approximately $7,845,800.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, General Counsel Tia Sherringham sold 1,880 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $120.15, for a total value of $225,882.00. Following the completion of the transaction, the general counsel now owns 217,260 shares of the company’s stock, valued at $26,103,789. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shona L. Brown sold 700 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $109.71, for a total transaction of $76,797.00. Following the transaction, the director now owns 71,514 shares of the company’s stock, valued at approximately $7,845,800.94. The disclosure for this sale can be found here. Insiders have sold 480,782 shares of company stock worth $63,130,157 over the last three months. Company insiders own 9.59% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Large investors have recently modified their holdings of the stock. Spire Wealth Management acquired a new stake in DoorDash in the 1st quarter valued at $25,000. Fifth Third Bancorp boosted its stake in shares of DoorDash by 448.8% in the 3rd quarter. Fifth Third Bancorp now owns 439 shares of the company’s stock valued at $35,000 after purchasing an additional 359 shares in the last quarter. Venturi Wealth Management LLC grew 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 worth $35,000 after purchasing an additional 90 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of DoorDash by 361.2% during the 4th quarter. Parkside Financial Bank & Trust now owns 392 shares of the company’s stock worth $39,000 after purchasing an additional 307 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in DoorDash by 101.2% during the 3rd quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $40,000 after purchasing an additional 253 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.