Rosenblatt Securities Initiates Coverage on DoorDash (NASDAQ:DASH)

Investment analysts at Rosenblatt Securities started coverage on shares of DoorDash (NASDAQ:DASH) in a research note issued to investors on Tuesday, Benzinga reports. The firm set a “buy” rating and a $270.00 price target on the stock. Rosenblatt Securities’ target price would indicate a potential upside of 16.51% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Argus set a $190.00 price objective on shares of DoorDash in a research report on Thursday, June 11th. Barclays cut shares of DoorDash from an “equal weight” rating to a “strong sell” rating in a report on Monday, August 24th. Zacks Research raised DoorDash from a “strong sell” rating to a “hold” rating in a research report on Monday, August 17th. Cantor Fitzgerald upped their price target on DoorDash from $230.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Finally, Roth Capital lifted their price objective on DoorDash from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Twenty-four investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and an average target price of $254.97.

DoorDash Stock Down 2.1%

Shares of NASDAQ:DASH opened at $231.74 on Tuesday. DoorDash has a 1 year low of $143.30 and a 1 year high of $285.50. The company has a market capitalization of $100.41 billion, a PE ratio of 121.33 and a beta of 1.78. The business has a fifty day moving average price of $200.29 and a two-hundred day moving average price of $177.07. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, August 5th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The business had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.34 billion. DoorDash had a return on equity of 8.48% and a net margin of 5.29%.The company’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.65 earnings per share. Analysts forecast that DoorDash will post 2.45 earnings per share for the current year.

Insider Transactions at DoorDash

In related news, CEO Tony Xu sold 29,567 shares of DoorDash stock in a transaction on Monday, August 24th. The shares were sold at an average price of $230.00, for a total value of $6,800,410.00. Following the transaction, the chief executive officer owned 1,500 shares in the company, valued at $345,000. This trade represents a 95.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ravi Inukonda sold 19,505 shares of the business’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $220.62, for a total value of $4,303,193.10. Following the completion of the sale, the chief financial officer directly owned 232,938 shares of the company’s stock, valued at approximately $51,390,781.56. This trade represents a 7.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 337,674 shares of company stock valued at $72,974,540 over the last quarter. 44.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. CYBER HORNET ETFs LLC increased its position in shares of DoorDash by 6.5% in the fourth quarter. CYBER HORNET ETFs LLC now owns 979 shares of the company’s stock valued at $222,000 after acquiring an additional 60 shares during the period. Vise Technologies Inc. grew its stake in shares of DoorDash by 1.8% in the fourth quarter. Vise Technologies Inc. now owns 3,517 shares of the company’s stock worth $796,000 after purchasing an additional 63 shares during the last quarter. Washington Trust Advisors Inc. raised its position in DoorDash by 81.0% during the 2nd quarter. Washington Trust Advisors Inc. now owns 143 shares of the company’s stock valued at $26,000 after purchasing an additional 64 shares during the last quarter. Premier Path Wealth Partners LLC lifted its holdings in DoorDash by 2.7% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 2,520 shares of the company’s stock worth $465,000 after buying an additional 67 shares during the period. Finally, Sunbelt Securities Inc. grew its position in shares of DoorDash by 124.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock worth $33,000 after buying an additional 67 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

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.