DoorDash (NASDAQ:DASH) Given “Market Outperform” Rating at JMP Securities

JMP Securities reissued their market outperform rating on shares of DoorDash (NASDAQ:DASH) in a research report released on Thursday morning,Benzinga reports. They currently have a $200.00 price objective on the stock.

DASH has been the topic of a number of other reports. Needham & Company LLC boosted their price target on DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Raymond James began coverage on DoorDash in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 price target on the stock. Barclays boosted their price target on DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Wells Fargo & Company boosted their price target on DoorDash from $127.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Friday, October 4th. Finally, Argus raised DoorDash from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Nine analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus price target of $171.42.

DoorDash Stock Performance

DoorDash stock opened at $174.96 on Thursday. The stock’s 50 day simple moving average is $171.36 and its two-hundred day simple moving average is $141.72. The stock has a market cap of $72.68 billion, a price-to-earnings ratio of -388.80, a PEG ratio of 13.56 and a beta of 1.70. DoorDash has a fifty-two week low of $93.33 and a fifty-two week high of $181.78.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data 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. The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The business’s revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.19) EPS. On average, analysts predict that DoorDash will post 0.26 earnings per share for the current year.

Insider Activity

In other news, Director Stanley Tang sold 1,855 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total transaction of $315,312.90. Following the completion of the sale, the director now owns 35,413 shares of the company’s stock, valued at $6,019,501.74. The trade was a 4.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Tony Xu sold 81,249 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total transaction of $12,014,289.63. The disclosure for this sale can be found here. Insiders sold a total of 1,082,694 shares of company stock valued at $183,152,786 in the last 90 days. Company insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in DoorDash by 0.8% in the 2nd quarter. Brighton Jones LLC now owns 10,317 shares of the company’s stock worth $1,122,000 after buying an additional 82 shares during the period. Central Pacific Bank Trust Division boosted its holdings in DoorDash by 1.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 6,966 shares of the company’s stock worth $1,169,000 after buying an additional 91 shares during the period. E Fund Management Co. Ltd. boosted its holdings in DoorDash by 3.5% in the 2nd quarter. E Fund Management Co. Ltd. now owns 3,263 shares of the company’s stock worth $355,000 after buying an additional 111 shares during the period. Venturi Wealth Management LLC boosted its holdings in DoorDash by 39.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 424 shares of the company’s stock worth $61,000 after buying an additional 119 shares during the period. Finally, Rakuten Securities Inc. boosted its holdings in DoorDash by 302.3% in the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after buying an additional 130 shares during the period. Institutional investors 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.