DoorDash, Inc. (NASDAQ:DASH) Given Consensus Rating of “Moderate Buy” by Brokerages

DoorDash, Inc. (NASDAQ:DASH) has been assigned a consensus recommendation of “Moderate Buy” from the thirty-six analysts that are currently covering the firm, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold recommendation, twenty-five have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $256.1111.

A number of research firms have recently commented on DASH. Argus set a $190.00 price objective on DoorDash in a research note on Thursday, June 11th. Zacks Research upgraded DoorDash from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Mizuho cut their price objective on DoorDash from $320.00 to $255.00 and set an “outperform” rating for the company in a research report on Tuesday, March 3rd. Citigroup reaffirmed a “market outperform” rating on shares of DoorDash in a report on Monday. Finally, Susquehanna dropped their target price on DoorDash from $250.00 to $225.00 and set a “positive” rating for the company in a report on Friday, May 8th.

Insider Buying and Selling

In related news, General Counsel Tia Sherringham sold 2,743 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $160.79, for a total transaction of $441,046.97. Following the sale, the general counsel owned 128,216 shares of the company’s stock, valued at approximately $20,615,850.64. This trade represents a 2.09% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andy Fang sold 5,000 shares of DoorDash stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $180.00, for a total value of $900,000.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 63,558 shares of company stock worth $10,224,940 over the last 90 days. 5.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DASH. Norges Bank acquired a new position in DoorDash in the fourth quarter valued at about $1,093,650,000. Wellington Management Group LLP grew its stake in DoorDash by 593.1% in 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 purchasing an additional 4,690,744 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of DoorDash by 32.8% in 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 buying an additional 3,447,754 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of DoorDash by 40.2% in the first quarter. Janus Henderson Group PLC now owns 7,762,553 shares of the company’s stock valued at $1,159,377,000 after buying an additional 2,225,954 shares during the last quarter. Finally, Coatue Management LLC lifted its holdings in DoorDash by 77.8% during the 4th quarter. Coatue Management LLC now owns 4,365,365 shares of the company’s stock worth $988,668,000 after purchasing an additional 1,910,488 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Key DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash and Urban Outfitters expanded their partnership with a graduation-themed campaign, reinforcing DoorDash’s growing role in consumer promotions and brand partnerships. Urban Outfitters and DoorDash Celebrate the Class of 2030
• Positive Sentiment: Precisely launched a new commercial property imagery offering powered by DoorDash Tasks, indicating DoorDash’s delivery network is finding additional enterprise use cases beyond food delivery. Precisely Launches Ground Level Images Enabled by DoorDash Tasks
• Neutral Sentiment: Director Andy Fang sold 5,000 shares worth about $900,000, but the transaction was executed under a pre-arranged Rule 10b5-1 plan, which typically reduces concern about the timing of insider selling.
• Negative Sentiment: Several news stories highlighted safety, delivery, and scam-related incidents involving DoorDash orders or drivers, which may add a small amount of reputational pressure even if they are isolated events. The DoorDash Order Was A Setup

DoorDash Stock Performance

NASDAQ DASH opened at $183.42 on Friday. The business’s 50-day moving average price is $165.50 and its 200 day moving average price is $181.85. DoorDash has a twelve month low of $143.30 and a twelve month high of $285.50. The company has a market capitalization of $79.92 billion, a PE ratio of 87.34 and a beta of 1.83. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The company’s revenue was up 33.1% on a year-over-year basis. During the same period last year, the business posted $0.44 EPS. On average, research analysts predict that DoorDash will post 2.41 earnings per share for the current year.

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.