DoorDash’s (DASH) “Buy” Rating Reaffirmed at BTIG Research

BTIG Research reaffirmed their buy rating on shares of DoorDash (NASDAQ:DASH) in a research note published on Thursday,Benzinga reports. They currently have a $315.00 price target on the stock.

DASH has been the topic of several other research reports. DA Davidson increased their target price on shares of DoorDash from $190.00 to $260.00 and gave the company a “neutral” rating in a report on Wednesday, September 10th. Stifel Nicolaus boosted their target price on DoorDash from $214.00 to $239.00 and gave the company a “hold” rating in a research note on Thursday, August 7th. Citigroup restated an “outperform” rating on shares of DoorDash in a research report on Thursday, August 7th. Sanford C. Bernstein boosted their price objective on DoorDash from $210.00 to $265.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Finally, Barclays started coverage on DoorDash in a research note on Friday, October 24th. They set an “equal weight” rating and a $272.00 price objective for the company. Four analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $280.62.

DoorDash Price Performance

DASH traded up $7.85 during trading on Thursday, reaching $204.31. The stock had a trading volume of 9,522,053 shares, compared to its average volume of 4,429,521. The business has a 50-day moving average of $259.57 and a 200-day moving average of $237.02. DoorDash has a one year low of $155.40 and a one year high of $285.50. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. The stock has a market cap of $87.28 billion, a PE ratio of 103.71 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). The firm had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.35 billion. DoorDash had a net margin of 6.83% and a return on equity of 10.31%. The business’s quarterly revenue was up 27.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.38 earnings per share. As a group, equities research analysts anticipate that DoorDash will post 2.22 EPS for the current fiscal year.

Insider Activity at DoorDash

In other news, COO Prabir Adarkar sold 41,881 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $245.82, for a total value of $10,295,187.42. Following the completion of the transaction, the chief operating officer owned 914,547 shares in the company, valued at $224,813,943.54. This trade represents a 4.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stanley Tang sold 45,410 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $243.31, for a total transaction of $11,048,707.10. The SEC filing for this sale provides additional information. Insiders sold a total of 876,527 shares of company stock worth $218,129,954 over the last quarter. 5.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DASH. Physician Wealth Advisors Inc. grew its stake in shares of DoorDash by 284.0% in the third quarter. Physician Wealth Advisors Inc. now owns 96 shares of the company’s stock worth $26,000 after acquiring an additional 71 shares during the last quarter. GFG Capital LLC purchased a new stake in DoorDash during the 2nd quarter valued at about $30,000. Saudi Central Bank purchased a new position in DoorDash in the first quarter worth about $25,000. WPG Advisers LLC purchased a new position in shares of DoorDash in the 1st quarter worth $26,000. Finally, Sound Income Strategies LLC grew its holdings in shares of DoorDash by 2,760.0% in the third quarter. Sound Income Strategies LLC now owns 143 shares of the company’s stock worth $39,000 after acquiring an additional 138 shares during the period. Institutional investors own 90.64% of the company’s stock.

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.