Royal Bank of Canada Reaffirms Outperform Rating for DoorDash (NASDAQ:DASH)

Royal Bank of Canada reissued their outperform rating on shares of DoorDash (NASDAQ:DASH) in a research report released on Wednesday morning,Benzinga reports. The firm currently has a $230.00 target price on the stock.

A number of other equities analysts have also recently commented on DASH. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $210.00 price target on shares of DoorDash in a research note on Wednesday. JPMorgan Chase & Co. lowered their price target on shares of DoorDash from $205.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. UBS Group cut their price target on shares of DoorDash from $197.00 to $196.00 and set a “neutral” rating on the stock in a report on Wednesday. Wedbush upped their price objective on shares of DoorDash from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, FBN Securities began coverage on DoorDash in a research note on Friday, March 28th. They issued an “outperform” rating and a $230.00 target price on the stock. Ten analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $209.97.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $183.56 on Wednesday. The stock has a market capitalization of $77.11 billion, a P/E ratio of 679.85 and a beta of 1.68. DoorDash has a one year low of $99.32 and a one year high of $215.25. The firm’s 50 day simple moving average is $184.61 and its two-hundred day simple moving average is $180.63.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.05. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.10 billion. DoorDash had a net margin of 1.15% and a return on equity of 1.67%. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.06) earnings per share. As a group, equities analysts expect that DoorDash will post 2.22 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In related news, Director Stanley Tang sold 45,410 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $181.21, for a total value of $8,228,746.10. Following the transaction, the director now directly owns 18,285 shares of the company’s stock, valued at approximately $3,313,424.85. This represents a 71.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Andy Fang sold 1,398 shares of DoorDash stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $203.45, for a total value of $284,423.10. Following the completion of the sale, the director now directly owns 14,778 shares of the company’s stock, valued at approximately $3,006,584.10. The trade was a 8.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 158,573 shares of company stock worth $30,407,073. Corporate insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

A number of large investors have recently made changes to their positions in DASH. Vanguard Group Inc. lifted its holdings in shares of DoorDash by 25.8% during the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock valued at $7,200,642,000 after buying an additional 8,073,882 shares during the period. Capital World Investors boosted its position in DoorDash by 26.4% in the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock worth $2,038,712,000 after purchasing an additional 2,538,160 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of DoorDash by 25.0% during the 4th quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock valued at $796,781,000 after purchasing an additional 949,414 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of DoorDash by 67.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock valued at $780,858,000 after purchasing an additional 1,869,866 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of DoorDash by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 4,558,821 shares of the company’s stock worth $763,198,000 after buying an additional 86,667 shares during the last quarter. 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.