DoorDash (NASDAQ:DASH) Trading Up 11.5% – What’s Next?

DoorDash, Inc. (NASDAQ:DASH)’s share price rose 11.5% on Monday . The company traded as high as $167.77 and last traded at $167.9590. Approximately 1,946,746 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 4,856,293 shares. The stock had previously closed at $150.58.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Moffett Nathanson set a $276.00 price target on shares of DoorDash in a research report on Wednesday, April 15th. Citizens Jmp cut their price objective on shares of DoorDash from $285.00 to $250.00 and set a “market outperform” rating on the stock in a report on Friday, February 20th. TD Cowen initiated coverage on shares of DoorDash in a research report on Monday, April 27th. They issued a “buy” rating and a $225.00 target price for the company. Sanford C. Bernstein lowered their price objective on shares of DoorDash from $285.00 to $270.00 and set an “outperform” rating for the company in a research report on Thursday, February 19th. Finally, Rothschild & Co Redburn set a $350.00 target price on shares of DoorDash in a research report on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and an average target price of $256.11.

DoorDash Stock Performance

The firm’s 50 day moving average price is $162.74 and its 200-day moving average price is $184.15. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market cap of $73.52 billion, a price-to-earnings ratio of 80.22 and a beta of 1.83.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period in the previous year, the business earned $0.44 earnings per share. The company’s revenue for the quarter was up 33.1% compared to the same quarter last year. On average, analysts anticipate that DoorDash, Inc. will post 2.45 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In related news, COO Prabir Adarkar sold 21,739 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total value of $3,374,979.75. Following the completion of the transaction, the chief operating officer owned 959,076 shares of the company’s stock, valued at approximately $148,896,549. This trade represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Tia Sherringham sold 2,743 shares of DoorDash stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $160.79, for a total transaction of $441,046.97. Following the completion of the transaction, the general counsel directly owned 128,216 shares of the company’s stock, valued at approximately $20,615,850.64. This trade represents a 2.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 68,558 shares of company stock worth $10,914,640 in the last three months. 5.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DoorDash

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of DoorDash during the fourth quarter worth $1,093,650,000. Wellington Management Group LLP grew its holdings in DoorDash by 593.1% in the fourth quarter. Wellington Management Group LLP now owns 5,481,693 shares of the company’s stock worth $1,241,494,000 after purchasing an additional 4,690,744 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in DoorDash by 32.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company’s stock worth $3,161,234,000 after purchasing an additional 3,447,754 shares during the period. Janus Henderson Group PLC grew its holdings in DoorDash by 40.2% in the first quarter. Janus Henderson Group PLC now owns 7,762,553 shares of the company’s stock worth $1,159,377,000 after purchasing an additional 2,225,954 shares during the period. Finally, Coatue Management LLC grew its holdings in DoorDash by 77.8% in the fourth quarter. Coatue Management LLC now owns 4,365,365 shares of the company’s stock worth $988,668,000 after purchasing an additional 1,910,488 shares during the period. Institutional investors own 90.64% of the company’s stock.

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.