DoorDash, Inc. (NASDAQ:DASH) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of DoorDash, Inc. (NASDAQ:DASH) have been given an average rating of “Moderate Buy” by the thirty-seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a hold recommendation, twenty-six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $275.4571.

DASH has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DoorDash in a research note on Wednesday, October 8th. Barclays cut their price target on DoorDash from $272.00 to $238.00 and set an “equal weight” rating for the company in a report on Thursday, November 6th. Needham & Company LLC decreased their price objective on DoorDash from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Friday, November 14th. Zacks Research cut DoorDash from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Finally, Bank of America cut their target price on shares of DoorDash from $325.00 to $305.00 and set a “buy” rating for the company in a research note on Thursday, November 6th.

Insiders Place Their Bets

In related news, Director Stanley Tang sold 45,410 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $244.39, for a total transaction of $11,097,749.90. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Tony Xu sold 288,410 shares of DoorDash stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $196.04, for a total transaction of $56,539,896.40. Following the completion of the sale, the chief executive officer directly owned 232,040 shares of the company’s stock, valued at $45,489,121.60. The trade was a 55.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 644,980 shares of company stock valued at $143,500,178. 5.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DoorDash

Several hedge funds and other institutional investors have recently modified their holdings of DASH. Physician Wealth Advisors Inc. raised its holdings in DoorDash by 284.0% in the third quarter. Physician Wealth Advisors Inc. now owns 96 shares of the company’s stock valued at $26,000 after buying an additional 71 shares during the period. Sunbelt Securities Inc. raised its stake in shares of DoorDash by 124.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock valued at $33,000 after acquiring an additional 67 shares during the period. GFG Capital LLC acquired a new position in shares of DoorDash during the 2nd quarter valued at $30,000. Morse Asset Management Inc purchased a new stake in DoorDash during the 3rd quarter worth $36,000. Finally, Saudi Central Bank purchased a new stake in DoorDash during the 1st quarter worth $25,000. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $226.98 on Tuesday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.29. The company’s 50-day moving average price is $231.68 and its 200 day moving average price is $240.25. DoorDash has a 52 week low of $155.40 and a 52 week high of $285.50. The stock has a market cap of $97.83 billion, a price-to-earnings ratio of 115.22 and a beta of 1.72.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.13). The business had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.35 billion. DoorDash had a net margin of 6.83% and a return on equity of 9.97%. The firm’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same period last year, the company earned $0.38 EPS. As a group, research analysts forecast that DoorDash will post 2.22 earnings per share for the current fiscal year.

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.