DoorDash (NASDAQ:DASH) Receives “Market Outperform” Rating from JMP Securities

DoorDash (NASDAQ:DASH)‘s stock had its “market outperform” rating reissued by equities researchers at JMP Securities in a research note issued to investors on Thursday,Benzinga reports. They presently have a $200.00 price objective on the stock. JMP Securities’ price objective would indicate a potential upside of 14.31% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group lifted their price objective on shares of DoorDash from $155.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Barclays boosted their price target on shares of DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Evercore ISI increased their price objective on DoorDash from $155.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Mizuho boosted their target price on DoorDash from $162.00 to $173.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Benchmark upped their price target on DoorDash from $152.00 to $173.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and an average target price of $171.42.

DoorDash Trading Up 2.5 %

Shares of DASH opened at $174.96 on Thursday. The company’s 50-day moving average price is $171.36 and its 200 day moving average price is $141.52. DoorDash has a 12-month low of $93.33 and a 12-month high of $181.78. The firm has a market cap of $72.68 billion, a P/E ratio of -388.80, a price-to-earnings-growth ratio of 13.56 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. The company had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm’s revenue was up 25.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.19) earnings per share. Equities research analysts forecast that DoorDash will post 0.26 earnings per share for the current year.

Insider Buying and Selling

In other news, General Counsel Tia Sherringham sold 12,950 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total value of $2,201,241.00. Following the completion of the sale, the general counsel now owns 145,917 shares in the company, valued at approximately $24,802,971.66. This trade represents a 8.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tony Xu sold 108,332 shares of DoorDash stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $170.35, for a total transaction of $18,454,356.20. Following the completion of the sale, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $255,525. The trade was a 98.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,082,694 shares of company stock valued at $183,152,786 over the last quarter. 7.92% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DoorDash

A number of hedge funds have recently added to or reduced their stakes in the company. Baillie Gifford & Co. raised its stake in shares of DoorDash by 13.2% during the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after buying an additional 1,645,186 shares in the last quarter. Dragoneer Investment Group LLC grew its holdings in DoorDash by 77.9% during the second quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock worth $309,755,000 after acquiring an additional 1,246,567 shares during the period. Allspring Global Investments Holdings LLC raised its position in DoorDash by 216.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock worth $154,486,000 after acquiring an additional 739,961 shares in the last quarter. Jupiter Asset Management Ltd. lifted its holdings in DoorDash by 3,284.7% in the second quarter. Jupiter Asset Management Ltd. now owns 729,779 shares of the company’s stock valued at $79,385,000 after acquiring an additional 708,218 shares during the period. Finally, Janus Henderson Group PLC boosted its position in shares of DoorDash by 14.5% during the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock worth $789,766,000 after purchasing an additional 700,465 shares in the last quarter. Institutional investors and hedge funds 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.