DoorDash (NASDAQ:DASH) Rating Reiterated by Cantor Fitzgerald

DoorDash (NASDAQ:DASH)‘s stock had its “overweight” rating reissued by analysts at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They currently have a $160.00 price target on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 12.73% from the stock’s current price.

Several other research analysts have also issued reports on the stock. JMP Securities increased their target price on shares of DoorDash from $145.00 to $160.00 and gave the stock a “market outperform” rating in a research note on Monday. Piper Sandler reissued a “neutral” rating and set a $125.00 target price (up from $115.00) on shares of DoorDash in a research note on Friday, August 2nd. Oppenheimer increased their target price on shares of DoorDash from $145.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. BTIG Research raised shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a research note on Thursday, September 19th. Finally, Wells Fargo & Company increased their target price on shares of DoorDash from $125.00 to $127.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, DoorDash has a consensus rating of “Moderate Buy” and a consensus target price of $146.44.

DoorDash Stock Performance

NASDAQ:DASH opened at $141.93 on Monday. The firm’s fifty day moving average is $126.59 and its 200-day moving average is $121.97. DoorDash has a 52 week low of $69.90 and a 52 week high of $146.36. The firm has a market cap of $58.04 billion, a P/E ratio of -131.42, a P/E/G ratio of 295.70 and a beta of 1.69.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the prior year, the company posted ($0.44) earnings per share. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that DoorDash will post 0.01 earnings per share for the current year.

Insider Transactions at DoorDash

In other news, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $140.06, for a total value of $7,586,489.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $140.06, for a total value of $7,586,489.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Shona L. Brown sold 5,005 shares of DoorDash stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $120.00, for a total transaction of $600,600.00. Following the completion of the transaction, the director now owns 65,186 shares of the company’s stock, valued at approximately $7,822,320. The disclosure for this sale can be found here. Insiders sold 281,503 shares of company stock worth $33,988,063 over the last quarter. Corporate insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

A number of large investors have recently modified their holdings of DASH. Meeder Asset Management Inc. boosted its position in shares of DoorDash by 82.0% in the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after acquiring an additional 132 shares during the period. Headlands Technologies LLC bought a new position in shares of DoorDash in the second quarter valued at approximately $32,000. Versant Capital Management Inc boosted its position in shares of DoorDash by 340.8% in the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after acquiring an additional 259 shares during the period. ORG Partners LLC boosted its position in shares of DoorDash by 2,108.3% in the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after acquiring an additional 253 shares during the period. Finally, Quest Partners LLC boosted its position in shares of DoorDash by 146.8% in the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after acquiring an additional 204 shares during the period. 90.64% of the stock is currently owned by institutional investors.

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.