DoorDash (NASDAQ:DASH) Upgraded by BNP Paribas to Strong-Buy Rating

DoorDash (NASDAQ:DASH) was upgraded by equities researchers at BNP Paribas to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. DA Davidson reiterated a “neutral” rating and issued a $260.00 price objective on shares of DoorDash in a research report on Thursday, November 6th. Stifel Nicolaus cut their price target on shares of DoorDash from $255.00 to $253.00 and set a “hold” rating for the company in a report on Thursday, November 6th. Wedbush raised their price objective on shares of DoorDash from $260.00 to $270.00 and gave the company an “outperform” rating in a research note on Friday, December 19th. Guggenheim restated a “buy” rating and set a $280.00 target price on shares of DoorDash in a research report on Wednesday, November 19th. Finally, Zacks Research cut shares of DoorDash from a “hold” rating to a “strong sell” rating in a report on Monday, January 5th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus target price of $278.05.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $210.11 on Wednesday. DoorDash has a 52 week low of $155.40 and a 52 week high of $285.50. The company has a 50-day moving average price of $216.48 and a 200 day moving average price of $240.64. The company has a market cap of $90.56 billion, a P/E ratio of 106.65 and a beta of 1.70. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.29.

DoorDash (NASDAQ:DASH) last released its 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 for the quarter, compared to analyst estimates of $3.35 billion. DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The business’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 EPS. Research analysts predict that DoorDash will post 2.22 earnings per share for the current year.

Insiders Place Their Bets

In other DoorDash news, COO Prabir Adarkar sold 30,000 shares of the stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $234.57, for a total transaction of $7,037,100.00. Following the sale, the chief operating officer owned 874,130 shares in the company, valued at approximately $205,044,674.10. This represents a 3.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stanley Tang sold 45,410 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $222.53, for a total value of $10,105,087.30. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 618,293 shares of company stock valued at $130,311,170. Corporate insiders own 5.83% of the company’s stock.

Institutional Trading of DoorDash

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in DoorDash in the 2nd quarter valued at about $1,185,576,000. Vanguard Group Inc. grew its holdings in shares of DoorDash by 4.6% during the second quarter. Vanguard Group Inc. now owns 41,190,085 shares of the company’s stock worth $10,153,768,000 after buying an additional 1,792,799 shares in the last quarter. Scge Management L.P. acquired a new position in shares of DoorDash in the second quarter valued at approximately $267,463,000. Invesco Ltd. lifted its stake in shares of DoorDash by 18.2% during the third quarter. Invesco Ltd. now owns 6,355,628 shares of the company’s stock valued at $1,728,667,000 after buying an additional 980,148 shares during the period. Finally, Ninety One UK Ltd purchased a new position in shares of DoorDash during the third quarter valued at approximately $259,154,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

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.