DoorDash (NASDAQ:DASH) Upgraded to “Strong-Buy” at Rosenblatt Securities

Rosenblatt Securities upgraded shares of DoorDash (NASDAQ:DASH) to a strong-buy rating in a report issued on Monday morning,Zacks reports.

Other analysts also recently issued reports about the stock. Wells Fargo & Company boosted their target price on shares of DoorDash from $199.00 to $225.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Truist Financial upped their price target on DoorDash from $330.00 to $336.00 and gave the company a “buy” rating in a report on Thursday, August 6th. The Goldman Sachs Group set a $280.00 price objective on DoorDash in a research note on Thursday, May 7th. Piper Sandler restated a “neutral” rating and issued a $220.00 target price (up from $205.00) on shares of DoorDash in a report on Thursday, August 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $265.00 target price on shares of DoorDash in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $254.97.

DoorDash Price Performance

NASDAQ DASH opened at $225.66 on Monday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average price of $201.37 and a two-hundred day moving average price of $177.42. The stock has a market cap of $97.78 billion, a price-to-earnings ratio of 118.15 and a beta of 1.79. DoorDash has a 52 week low of $143.30 and a 52 week high of $285.50.

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

Insider Transactions at DoorDash

In other news, COO Prabir Adarkar sold 55,289 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $231.76, for a total transaction of $12,813,778.64. Following the transaction, the chief operating officer owned 930,211 shares in the company, valued at approximately $215,585,701.36. This trade represents a 5.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 10,134 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $225.00, for a total value of $2,280,150.00. Following the transaction, the director owned 10,361 shares in the company, valued at approximately $2,331,225. This trade represents a 49.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 337,674 shares of company stock valued at $72,974,540. Insiders own 44.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. MV Capital Management Inc. acquired a new stake in DoorDash in the 4th quarter worth $26,000. Washington Trust Advisors Inc. increased its position in shares of DoorDash by 81.0% during the second 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 period. Swiss RE Ltd. acquired a new position in shares of DoorDash in the fourth quarter valued at $28,000. Kemnay Advisory Services Inc. bought a new position in DoorDash in the fourth quarter worth $32,000. Finally, Sunbelt Securities Inc. boosted its stake in DoorDash by 124.1% during the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock worth $33,000 after buying an additional 67 shares in the last quarter. 90.64% of the stock is owned by institutional investors.

About DoorDash

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.