DoorDash (NASDAQ:DASH) Lifted to Outperform at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of DoorDash (NASDAQ:DASH) from a market perform rating to an outperform rating in a research note issued to investors on Wednesday, MarketBeat.com reports. Keefe, Bruyette & Woods currently has $177.00 target price on the stock.

A number of other equities research analysts also recently weighed in on DASH. Benchmark restated a buy rating and issued a $150.00 target price on shares of DoorDash in a research report on Tuesday, July 30th. Raymond James initiated coverage on shares of DoorDash in a research report on Tuesday, September 24th. They set an outperform rating and a $155.00 price objective for the company. Redburn Atlantic assumed coverage on shares of DoorDash in a report on Friday, July 26th. They issued a buy rating and a $170.00 target price on the stock. Cantor Fitzgerald restated an overweight rating and set a $160.00 target price on shares of DoorDash in a report on Monday, September 23rd. Finally, Wolfe Research assumed coverage on shares of DoorDash in a research report on Tuesday, July 16th. They issued an outperform rating and a $130.00 price target on the stock. Ten analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, DoorDash currently has a consensus rating of Moderate Buy and a consensus target price of $145.97.

DoorDash Stock Performance

NASDAQ:DASH opened at $142.23 on Wednesday. The stock has a market cap of $58.53 billion, a price-to-earnings ratio of -131.69, a PEG ratio of 295.70 and a beta of 1.69. DoorDash has a 1 year low of $69.90 and a 1 year high of $146.36. The business has a fifty day moving average of $125.10 and a 200-day moving average of $121.89.

DoorDash (NASDAQ:DASH) last released its earnings results on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.44) EPS. On average, equities research analysts predict that DoorDash will post 0.01 EPS for the current year.

Insider Buying and Selling

In other news, insider Keith Yandell sold 6,554 shares of DoorDash stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $107.75, for a total value of $706,193.50. Following the completion of the transaction, the insider now owns 155,097 shares in the company, valued at $16,711,701.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $107.75, for a total transaction of $5,836,386.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Keith Yandell sold 6,554 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $107.75, for a total transaction of $706,193.50. Following the sale, the insider now directly owns 155,097 shares in the company, valued at approximately $16,711,701.75. The disclosure for this sale can be found here. Insiders sold 350,223 shares of company stock worth $41,391,523 in the last quarter. 7.92% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DoorDash

A number of large investors have recently modified their holdings of DASH. Wells Fargo & Company MN raised its position in DoorDash by 102.5% in the 4th quarter. Wells Fargo & Company MN now owns 199,152 shares of the company’s stock worth $19,694,000 after purchasing an additional 100,787 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of DoorDash during the first quarter worth $2,969,000. Bank of Nova Scotia lifted its stake in shares of DoorDash by 298.3% during the fourth quarter. Bank of Nova Scotia now owns 186,201 shares of the company’s stock valued at $18,413,000 after acquiring an additional 139,450 shares during the period. D L Carlson Investment Group Inc. bought a new position in DoorDash in the fourth quarter valued at about $2,421,000. Finally, KBC Group NV increased its position in DoorDash by 64.8% in the fourth quarter. KBC Group NV now owns 31,879 shares of the company’s stock worth $3,153,000 after purchasing an additional 12,538 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.