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

DoorDash, Inc. (NASDAQ:DASH) has been given a consensus recommendation of “Moderate Buy” by the twenty-four analysts that are currently covering the firm, Marketbeat reports. Nine investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $130.52.

A number of equities analysts have recently issued reports on the company. Roth Mkm increased their price target on DoorDash from $92.00 to $109.00 and gave the stock a “neutral” rating in a research report on Friday, January 19th. Oppenheimer raised their price objective on DoorDash from $110.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Mizuho raised their price objective on DoorDash from $140.00 to $152.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Loop Capital initiated coverage on DoorDash in a research report on Friday, April 19th. They set a “buy” rating and a $170.00 price objective on the stock. Finally, Piper Sandler raised DoorDash from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $53.00 to $127.00 in a research report on Friday, March 15th.

DoorDash Stock Down 2.0 %

DASH stock opened at $126.76 on Thursday. The business’s fifty day simple moving average is $130.95 and its two-hundred day simple moving average is $108.06. DoorDash has a twelve month low of $56.59 and a twelve month high of $143.34. The firm has a market cap of $51.21 billion, a price-to-earnings ratio of -88.64, a PEG ratio of 14.16 and a beta of 1.79.

DoorDash (NASDAQ:DASH) last released its earnings results on Thursday, February 15th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.24). DoorDash had a negative return on equity of 8.49% and a negative net margin of 6.46%. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter in the previous year, the business earned ($0.63) EPS. The business’s revenue for the quarter was up 26.7% on a year-over-year basis. Research analysts expect that DoorDash will post 0.21 EPS for the current year.

Insider Activity at DoorDash

In related news, CFO Ravi Inukonda sold 5,000 shares of DoorDash stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $109.73, for a total transaction of $548,650.00. Following the completion of the transaction, the chief financial officer now directly owns 414,738 shares in the company, valued at $45,509,200.74. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other DoorDash news, CAO Gordon S. Lee sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $124.50, for a total value of $124,500.00. Following the sale, the chief accounting officer now directly owns 92,207 shares of the company’s stock, valued at $11,479,771.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Ravi Inukonda sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $109.73, for a total value of $548,650.00. Following the completion of the sale, the chief financial officer now directly owns 414,738 shares in the company, valued at $45,509,200.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 497,282 shares of company stock worth $64,885,042. 9.59% of the stock is owned by corporate insiders.

Institutional Trading of DoorDash

Several institutional investors have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. acquired a new stake in DoorDash in the first quarter valued at approximately $163,000. Simplicity Wealth LLC acquired a new stake in shares of DoorDash in the first quarter worth approximately $722,000. Spire Wealth Management acquired a new stake in shares of DoorDash in the first quarter worth approximately $25,000. Global Retirement Partners LLC boosted its stake in shares of DoorDash by 68.5% in the first quarter. Global Retirement Partners LLC now owns 962 shares of the company’s stock worth $132,000 after acquiring an additional 391 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in shares of DoorDash by 54.5% in the first quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock worth $35,000 after acquiring an additional 90 shares during the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

About DoorDash

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.