DoorDash’s (DASH) Buy Rating Reiterated at BTIG Research

DoorDash (NASDAQ:DASH)‘s stock had its “buy” rating reissued by investment analysts at BTIG Research in a note issued to investors on Thursday,Benzinga reports. They presently have a $315.00 target price on the stock. BTIG Research’s target price suggests a potential upside of 32.35% from the company’s current price.

DASH has been the subject of several other research reports. Piper Sandler lifted their price objective on DoorDash from $210.00 to $290.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Wells Fargo & Company decreased their target price on DoorDash from $306.00 to $301.00 and set an “equal weight” rating on the stock in a research note on Friday, October 3rd. Jefferies Financial Group lifted their price target on DoorDash from $265.00 to $280.00 and gave the company a “hold” rating in a research report on Friday, October 17th. Roth Capital boosted their price objective on DoorDash from $191.00 to $225.00 and gave the stock a “neutral” rating in a report on Monday, July 14th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $325.00 target price (up from $295.00) on shares of DoorDash in a research note on Thursday, August 7th. Four research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $293.79.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $238.00 on Thursday. The company has a market capitalization of $101.67 billion, a PE ratio of 132.22 and a beta of 1.70. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. The stock’s 50 day moving average price is $260.58 and its 200-day moving average price is $237.30. DoorDash has a twelve month low of $155.40 and a twelve month high of $285.50.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.13). The business had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.35 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%. On average, equities analysts anticipate that DoorDash will post 2.22 EPS for the current year.

Insider Activity

In related news, Director Stanley Tang sold 45,410 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $243.31, for a total value of $11,048,707.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Tony Xu sold 291,403 shares of DoorDash stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $238.19, for a total transaction of $69,409,280.57. Following the completion of the sale, the chief executive officer owned 229,047 shares in the company, valued at approximately $54,556,704.93. This trade represents a 55.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 876,464 shares of company stock valued at $218,114,855. Company insiders own 5.83% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DASH. Vanguard Group Inc. boosted its holdings in shares of DoorDash by 25.8% during the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock valued at $7,200,642,000 after buying an additional 8,073,882 shares in the last quarter. Norges Bank purchased a new stake in DoorDash during the 2nd quarter valued at $1,185,576,000. AQR Capital Management LLC lifted its stake in DoorDash by 442.5% during the 1st quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company’s stock valued at $321,799,000 after acquiring an additional 1,497,636 shares during the period. Invesco Ltd. lifted its position in DoorDash by 41.9% during the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company’s stock valued at $877,269,000 after purchasing an additional 1,416,194 shares during the period. Finally, Nuveen LLC purchased a new position in shares of DoorDash in the 1st quarter worth $211,415,000. 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.