DoorDash (NASDAQ:DASH) Earns “Overweight” Rating from Cantor Fitzgerald

by · The Markets Daily

DoorDash (NASDAQ:DASH – Get Free Report)‘s stock had its “overweight” rating restated by research analysts at Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They currently have a $160.00 target price on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 12.73% from the stock’s previous close.

Several other research analysts also recently commented on DASH. KeyCorp raised shares of DoorDash from a “sector weight” rating to an “overweight” rating and set a $177.00 price target on the stock in a research note on Wednesday, September 25th. UBS Group lifted their target price on shares of DoorDash from $125.00 to $143.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Piper Sandler reaffirmed a “neutral” rating and issued a $125.00 target price (up from $115.00) on shares of DoorDash in a research note on Friday, August 2nd. Evercore ISI lifted their target price on shares of DoorDash from $145.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, Benchmark reaffirmed a “buy” rating and issued a $150.00 target price on shares of DoorDash in a research note on Tuesday, July 30th. Ten equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $146.44.

Check Out Our Latest Research Report on DoorDash

DoorDash Price Performance

Shares of DoorDash stock opened at $141.93 on Monday. DoorDash has a 1 year low of $69.90 and a 1 year high of $146.36. The firm has a market cap of $58.04 billion, a PE ratio of -131.42, a PEG ratio of 295.70 and a beta of 1.69. The company has a 50 day simple moving average of $126.59 and a two-hundred day simple moving average of $121.97.

DoorDash (NASDAQ:DASH – Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.44) earnings per share. As a group, research analysts anticipate that DoorDash will post 0.01 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In other news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $140.06, for a total transaction of $7,586,489.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $140.06, for a total transaction of $7,586,489.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $105.57, for a total transaction of $5,278,500.00. Following the sale, the director now directly owns 19,982 shares of the company’s stock, valued at approximately $2,109,499.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 281,503 shares of company stock worth $33,988,063. Company insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its holdings in DoorDash by 82.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after acquiring an additional 132 shares in the last quarter. Headlands Technologies LLC purchased a new stake in DoorDash in the 2nd quarter worth approximately $32,000. Versant Capital Management Inc increased its holdings in DoorDash by 340.8% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after acquiring an additional 259 shares in the last quarter. ORG Partners LLC increased its holdings in DoorDash by 2,108.3% in the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock worth $37,000 after acquiring an additional 253 shares in the last quarter. Finally, Quest Partners LLC increased its holdings in DoorDash by 146.8% in the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after acquiring an additional 204 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Company Profile

(Get Free Report)

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.

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