DoorDash’s (DASH) “Buy” Rating Reiterated at Guggenheim

DoorDash (NASDAQ:DASH)‘s stock had its “buy” rating restated by analysts at Guggenheim in a report released on Tuesday,Benzinga reports. They currently have a $255.00 price objective on the stock. Guggenheim’s price target would suggest a potential upside of 48.19% from the company’s current price.

DASH has been the topic of a number of other reports. Citigroup reiterated a “market outperform” rating on shares of DoorDash in a research note on Monday. Needham & Company LLC restated a “buy” rating and issued a $265.00 price objective on shares of DoorDash in a research report on Thursday, May 7th. Piper Sandler lowered their price objective on DoorDash from $220.00 to $205.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Wells Fargo & Company boosted their target price on DoorDash from $198.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Finally, UBS Group increased their target price on DoorDash from $206.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and an average price target of $256.11.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $172.08 on Tuesday. The stock has a fifty day moving average price of $164.42 and a 200 day moving average price of $182.84. DoorDash has a 1-year low of $143.30 and a 1-year high of $285.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market cap of $74.98 billion, a PE ratio of 81.94 and a beta of 1.83.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The company had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the previous year, the company posted $0.44 EPS. DoorDash’s revenue was up 33.1% compared to the same quarter last year. Sell-side analysts forecast that DoorDash will post 2.44 EPS for the current year.

Insider Buying and Selling

In other news, COO Prabir Adarkar sold 21,739 shares of DoorDash stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total transaction of $3,374,979.75. Following the completion of the sale, the chief operating officer directly owned 959,076 shares in the company, valued at $148,896,549. The trade was a 2.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Keith Yandell sold 2,643 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $155.34, for a total transaction of $410,563.62. Following the completion of the transaction, the insider directly owned 81,106 shares of the company’s stock, valued at approximately $12,599,006.04. This represents a 3.16% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 58,558 shares of company stock valued at $9,324,940. 5.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in DASH. Keel Point LLC increased its stake in DoorDash by 4.3% in the third quarter. Keel Point LLC now owns 1,393 shares of the company’s stock valued at $379,000 after purchasing an additional 58 shares during the last quarter. CYBER HORNET ETFs LLC grew its holdings in DoorDash by 6.5% in the 4th quarter. CYBER HORNET ETFs LLC now owns 979 shares of the company’s stock valued at $222,000 after buying an additional 60 shares during the period. Cary Street Partners Investment Advisory LLC increased its stake in shares of DoorDash by 8.1% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 843 shares of the company’s stock valued at $229,000 after acquiring an additional 63 shares during the last quarter. Vise Technologies Inc. lifted its holdings in shares of DoorDash by 1.8% during the 4th quarter. Vise Technologies Inc. now owns 3,517 shares of the company’s stock worth $796,000 after acquiring an additional 63 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of DoorDash by 7.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 982 shares of the company’s stock worth $222,000 after acquiring an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

About DoorDash

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.