DoorDash’s (DASH) “Neutral” Rating Reaffirmed at Wedbush

Wedbush reaffirmed their neutral rating on shares of DoorDash (NASDAQ:DASH) in a report published on Friday morning, MarketBeat reports. Wedbush currently has a $115.00 price objective on the stock.

A number of other research firms have also recently weighed in on DASH. Oppenheimer lifted their target price on shares of DoorDash from $140.00 to $150.00 and gave the company an outperform rating in a research note on Monday, April 29th. Royal Bank of Canada reduced their price target on shares of DoorDash from $175.00 to $165.00 and set an outperform rating on the stock in a report on Thursday, May 2nd. JMP Securities reiterated a market outperform rating and issued a $140.00 price target on shares of DoorDash in a report on Thursday, July 18th. Redburn Atlantic started coverage on shares of DoorDash in a report on Friday, July 26th. They issued a buy rating and a $170.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price target on shares of DoorDash from $111.00 to $137.00 and gave the company a neutral rating in a report on Friday. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, DoorDash presently has an average rating of Moderate Buy and an average target price of $142.38.

DoorDash Trading Up 8.3 %

Shares of DASH traded up $9.03 during trading hours on Friday, reaching $117.23. 12,666,595 shares of the stock traded hands, compared to its average volume of 4,409,081. DoorDash has a 52-week low of $69.90 and a 52-week high of $143.34. The company’s 50-day moving average price is $109.35 and its two-hundred day moving average price is $118.25. The company has a market cap of $47.94 billion, a P/E ratio of -108.55, a price-to-earnings-growth ratio of 40.25 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last released its earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.28). DoorDash had a negative net margin of 4.24% and a negative return on equity of 6.00%. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter last year, the firm posted ($0.44) EPS. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. On average, research analysts forecast that DoorDash will post 0.07 EPS for the current year.

Insider Buying and Selling

In related news, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $106.64, for a total transaction of $746,480.00. Following the completion of the transaction, the chief financial officer now directly owns 417,223 shares of the company’s stock, valued at approximately $44,492,660.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other DoorDash news, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $104.96, for a total value of $5,685,263.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $106.64, for a total transaction of $746,480.00. Following the completion of the sale, the chief financial officer now directly owns 417,223 shares of the company’s stock, valued at $44,492,660.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 459,016 shares of company stock valued at $50,325,396. Company insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Several hedge funds have recently modified their holdings of DASH. Raymond James & Associates lifted its position in shares of DoorDash by 25.9% in the 4th quarter. Raymond James & Associates now owns 15,805 shares of the company’s stock worth $1,563,000 after purchasing an additional 3,254 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in shares of DoorDash by 55.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 19,866 shares of the company’s stock worth $1,965,000 after purchasing an additional 7,077 shares during the period. Global Retirement Partners LLC lifted its position in shares of DoorDash by 3,072.2% in the 4th quarter. Global Retirement Partners LLC now owns 571 shares of the company’s stock worth $59,000 after purchasing an additional 553 shares during the period. Arizona State Retirement System lifted its position in shares of DoorDash by 0.7% in the 4th quarter. Arizona State Retirement System now owns 72,046 shares of the company’s stock worth $7,125,000 after purchasing an additional 535 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of DoorDash by 11.9% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 37,861 shares of the company’s stock worth $3,764,000 after acquiring an additional 4,033 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

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.