Raymond James Begins Coverage on DoorDash (NASDAQ:DASH)

Raymond James initiated coverage on shares of DoorDash (NASDAQ:DASH) in a research report sent to investors on Tuesday, MarketBeat.com reports. The firm issued an outperform rating and a $155.00 price target on the stock.

Other equities analysts also recently issued research reports about the stock. Evercore ISI lifted their price target on shares of DoorDash from $145.00 to $155.00 and gave the company an outperform rating in a report on Friday, August 2nd. Argus initiated coverage on shares of DoorDash in a report on Tuesday, July 23rd. They set a hold rating on the stock. Truist Financial lifted their price target on shares of DoorDash from $145.00 to $150.00 and gave the company a buy rating in a report on Friday, August 2nd. Needham & Company LLC upped their target price on shares of DoorDash from $137.00 to $145.00 and gave the stock a buy rating in a research report on Friday, August 2nd. Finally, BTIG Research upgraded shares of DoorDash from a neutral rating to a buy rating and set a $155.00 target price for the company in a research report on Thursday, September 19th. Ten analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, DoorDash currently has an average rating of Moderate Buy and an average price target of $145.97.

DoorDash Trading Down 0.6 %

Shares of NASDAQ DASH opened at $142.23 on Tuesday. The firm has a 50 day moving average of $125.10 and a 200 day moving average of $121.95. The firm has a market capitalization of $58.53 billion, a price-to-earnings ratio of -131.69, a price-to-earnings-growth ratio of 295.70 and a beta of 1.69. DoorDash has a 12-month low of $69.90 and a 12-month high of $146.36.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.29). DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the prior year, the firm earned ($0.44) EPS. DoorDash’s revenue for the quarter was up 23.3% compared to the same quarter last year. Sell-side analysts predict that DoorDash will post 0.01 EPS for the current year.

Insider Activity

In other news, insider Keith Yandell sold 6,554 shares of the stock in a transaction 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 sale, the insider now owns 155,097 shares of the company’s stock, valued at $16,711,701.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Shona L. Brown sold 5,005 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $120.00, for a total value of $600,600.00. Following the transaction, the director now owns 65,186 shares of the company’s stock, valued at approximately $7,822,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Keith Yandell sold 6,554 shares of the firm’s 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 completion of the transaction, 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. Over the last quarter, insiders have sold 350,223 shares of company stock valued at $41,391,523. 7.92% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Paragon Capital Management Inc. purchased a new position in DoorDash in the 2nd quarter worth about $1,309,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in DoorDash in the 2nd quarter worth about $3,812,000. Sanctuary Advisors LLC purchased a new position in DoorDash during the 2nd quarter valued at about $779,000. Dana Investment Advisors Inc. increased its position in DoorDash by 7.4% during the 2nd quarter. Dana Investment Advisors Inc. now owns 38,935 shares of the company’s stock valued at $4,235,000 after purchasing an additional 2,692 shares during the period. Finally, Teachers Retirement System of The State of Kentucky increased its position in DoorDash by 0.4% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 155,950 shares of the company’s stock valued at $16,964,000 after purchasing an additional 605 shares during the period. 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.