Guggenheim Reiterates Buy Rating for DoorDash (NASDAQ:DASH)

DoorDash (NASDAQ:DASH)‘s stock had its “buy” rating reissued by equities researchers at Guggenheim in a research report issued on Wednesday,Benzinga reports. They currently have a $280.00 price objective on the stock. Guggenheim’s price objective suggests a potential upside of 33.17% from the company’s previous close.

DASH has been the topic of a number of other research reports. Stifel Nicolaus cut their target price on shares of DoorDash from $255.00 to $253.00 and set a “hold” rating on the stock in a report on Thursday, November 6th. DA Davidson restated a “neutral” rating and set a $260.00 price target on shares of DoorDash in a research report on Thursday, November 6th. Susquehanna dropped their price objective on shares of DoorDash from $300.00 to $250.00 and set a “positive” rating on the stock in a report on Friday, November 7th. Wall Street Zen lowered shares of DoorDash from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Benchmark raised their price target on shares of DoorDash from $315.00 to $320.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and an average price target of $276.94.

DoorDash Stock Down 0.9%

Shares of DoorDash stock traded down $1.82 during trading on Wednesday, reaching $210.26. The company had a trading volume of 1,330,071 shares, compared to its average volume of 4,510,482. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.04 and a current ratio of 2.04. DoorDash has a fifty-two week low of $155.40 and a fifty-two week high of $285.50. The firm’s fifty day moving average is $252.45 and its 200-day moving average is $238.61. The company has a market cap of $90.62 billion, a price-to-earnings ratio of 107.07 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last announced 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). DoorDash had a net margin of 6.83% and a return on equity of 9.97%. The firm had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. The firm’s quarterly revenue was up 27.3% compared to the same quarter last year. On average, analysts anticipate that DoorDash will post 2.22 EPS for the current year.

Insider Buying and Selling at DoorDash

In other news, Director Andy Fang sold 30,000 shares of DoorDash stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $243.32, for a total value of $7,299,600.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Tony Xu sold 51,250 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $258.26, for a total transaction of $13,235,825.00. Following the sale, the chief executive officer owned 1,500 shares of the company’s stock, valued at $387,390. The trade was a 97.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 499,707 shares of company stock worth $127,140,411. Company insiders own 5.83% of the company’s stock.

Institutional Investors Weigh In On DoorDash

A number of institutional investors and hedge funds have recently modified their holdings of DASH. Physician Wealth Advisors Inc. boosted its position in shares of DoorDash by 284.0% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 96 shares of the company’s stock valued at $26,000 after purchasing an additional 71 shares during the period. GFG Capital LLC acquired a new stake in DoorDash during the 2nd quarter worth about $30,000. Morse Asset Management Inc purchased a new stake in DoorDash during the third quarter valued at about $36,000. Saudi Central Bank acquired a new position in shares of DoorDash in the first quarter worth about $25,000. Finally, WPG Advisers LLC acquired a new position in shares of DoorDash in the first quarter worth about $26,000. 90.64% of the stock is owned by institutional investors and hedge funds.

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.