DoorDash (NASDAQ:DASH) Upgraded at Raymond James Financial

Raymond James Financial upgraded shares of DoorDash (NASDAQ:DASH) from an outperform rating to a strong-buy rating in a research report sent to investors on Monday, Marketbeat.com reports. The brokerage currently has $260.00 target price on the stock, up from their previous target price of $215.00.

Other equities research analysts have also issued research reports about the company. Stifel Nicolaus set a $198.00 target price on DoorDash and gave the company a “hold” rating in a research note on Tuesday, June 10th. Wall Street Zen raised DoorDash from a “hold” rating to a “buy” rating in a research note on Saturday, June 7th. DA Davidson boosted their price target on DoorDash from $150.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Bank of America boosted their price target on DoorDash from $230.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, June 12th. Finally, UBS Group cut their price target on DoorDash from $197.00 to $196.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Eleven analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $214.76.

DoorDash Stock Performance

DASH stock opened at $232.68 on Monday. DoorDash has a 1 year low of $99.32 and a 1 year high of $238.47. The stock’s 50 day moving average price is $203.65 and its 200 day moving average price is $190.41. The firm has a market cap of $98.60 billion, a P/E ratio of 302.19 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last posted its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the prior year, the company earned ($0.06) EPS. DoorDash’s revenue was up 20.7% on a year-over-year basis. On average, research analysts predict that DoorDash will post 2.22 earnings per share for the current year.

Insider Buying and Selling

In other DoorDash news, Director Shona L. Brown sold 1,248 shares of DoorDash stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $231.70, for a total transaction of $289,161.60. Following the completion of the sale, the director now owns 45,213 shares of the company’s stock, valued at $10,475,852.10. This trade represents a 2.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Keith Yandell sold 5,410 shares of the business’s stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $204.53, for a total transaction of $1,106,507.30. Following the transaction, the insider now owns 104,922 shares in the company, valued at approximately $21,459,696.66. This represents a 4.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 332,127 shares of company stock valued at $67,346,994. Company insiders own 5.83% of the company’s stock.

Institutional Trading of DoorDash

Institutional investors have recently bought and sold shares of the company. Saudi Central Bank acquired a new stake in DoorDash during the first quarter valued at $25,000. WPG Advisers LLC acquired a new stake in DoorDash during the first quarter valued at $26,000. Pacific Center for Financial Services acquired a new stake in DoorDash during the first quarter valued at $27,000. Harbour Investments Inc. boosted its position in DoorDash by 55.6% during the first quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock valued at $36,000 after purchasing an additional 70 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in DoorDash by 31.8% during the fourth quarter. IFP Advisors Inc now owns 224 shares of the company’s stock valued at $37,000 after purchasing an additional 54 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

About DoorDash

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.