DoorDash, Inc. (NASDAQ:DASH) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of DoorDash, Inc. (NASDAQ:DASH) have earned a consensus recommendation of “Moderate Buy” from the thirty-four brokerages that are presently covering the company, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a hold recommendation and twenty-four have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $166.06.

A number of equities analysts have weighed in on the company. UBS Group boosted their target price on DoorDash from $143.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Evercore ISI boosted their target price on DoorDash from $155.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Barclays boosted their target price on DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. The Goldman Sachs Group boosted their target price on DoorDash from $142.00 to $161.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Loop Capital boosted their target price on DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th.

Insiders Place Their Bets

In other news, General Counsel Tia Sherringham sold 11,694 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $176.91, for a total transaction of $2,068,785.54. Following the sale, the general counsel now directly owns 134,223 shares of the company’s stock, valued at $23,745,390.93. This represents a 8.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $140.06, for a total value of $7,586,489.96. The disclosure for this sale can be found here. Insiders sold 838,722 shares of company stock worth $136,732,309 in the last three months. 7.92% of the stock is owned by company insiders.

Institutional Trading of DoorDash

Several hedge funds have recently modified their holdings of the company. Franklin Resources Inc. raised its holdings in shares of DoorDash by 15.2% during the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock worth $570,135,000 after acquiring an additional 501,905 shares in the last quarter. Tri Ri Asset Management Corp purchased a new stake in DoorDash during the 3rd quarter valued at $6,250,000. Tidal Investments LLC raised its holdings in DoorDash by 19.9% during the 3rd quarter. Tidal Investments LLC now owns 12,321 shares of the company’s stock valued at $1,759,000 after buying an additional 2,049 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in DoorDash during the 3rd quarter valued at $1,109,000. Finally, Sanctuary Advisors LLC raised its holdings in DoorDash by 48.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 10,663 shares of the company’s stock valued at $1,522,000 after buying an additional 3,498 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $175.89 on Friday. DoorDash has a 1-year low of $93.33 and a 1-year high of $181.30. The business has a fifty day moving average price of $160.19 and a 200-day moving average price of $132.46. The company has a market capitalization of $73.06 billion, a PE ratio of -390.87, a PEG ratio of 13.54 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period last year, the company earned ($0.19) earnings per share. The company’s revenue was up 25.0% on a year-over-year basis. On average, sell-side analysts anticipate that DoorDash will post 0.26 earnings per share for the current fiscal year.

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.