DoorDash (NYSE:DASH) Coverage Initiated by Analysts at The Goldman Sachs Group

Investment analysts at The Goldman Sachs Group initiated coverage on shares of DoorDash (NYSE:DASHGet Rating) in a note issued to investors on Tuesday, The Fly reports. The firm set a “neutral” rating on the stock.

A number of other research firms have also recently commented on DASH. Sanford C. Bernstein began coverage on DoorDash in a research report on Monday, May 23rd. They set a “top pick” rating and a $90.00 target price on the stock. Raymond James assumed coverage on shares of DoorDash in a report on Monday, June 6th. They issued a “market perform” rating for the company. Susquehanna dropped their price target on shares of DoorDash from $145.00 to $100.00 in a research note on Friday, May 6th. Citigroup decreased their price objective on shares of DoorDash from $155.00 to $138.00 in a research report on Friday, May 6th. Finally, Susquehanna Bancshares reduced their price target on shares of DoorDash from $145.00 to $100.00 in a research report on Friday, May 6th. Ten research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, DoorDash currently has an average rating of “Buy” and a consensus target price of $151.24.

Shares of DASH opened at $61.69 on Tuesday. DoorDash has a one year low of $56.67 and a one year high of $257.25. The firm has a market capitalization of $21.67 billion, a P/E ratio of -40.32 and a beta of 1.03. The business has a fifty day moving average of $76.57 and a 200 day moving average of $103.99.

DoorDash (NYSE:DASHGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.08). The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.38 billion. DoorDash had a negative return on equity of 11.29% and a negative net margin of 9.97%. The company’s revenue was up 35.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.34) earnings per share. On average, research analysts anticipate that DoorDash will post -1.64 earnings per share for the current fiscal year.

In other DoorDash news, insider Keith Yandell sold 13,394 shares of the company’s stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $63.57, for a total value of $851,456.58. Following the sale, the insider now owns 261,667 shares of the company’s stock, valued at $16,634,171.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Gordon S. Lee sold 5,911 shares of the company’s stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $64.56, for a total transaction of $381,614.16. Following the completion of the sale, the chief accounting officer now directly owns 107,780 shares in the company, valued at approximately $6,958,276.80. The disclosure for this sale can be found here. Insiders have sold 330,798 shares of company stock worth $28,651,116 over the last 90 days. 15.54% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. SC US Ttgp LTD. raised its stake in DoorDash by 0.9% during the first quarter. SC US Ttgp LTD. now owns 35,855,453 shares of the company’s stock worth $4,201,901,000 after purchasing an additional 307,693 shares during the period. Vanguard Group Inc. raised its stake in DoorDash by 18.8% during the first quarter. Vanguard Group Inc. now owns 12,862,889 shares of the company’s stock worth $1,507,402,000 after purchasing an additional 2,032,637 shares during the period. Morgan Stanley raised its stake in DoorDash by 11.6% during the second quarter. Morgan Stanley now owns 12,189,528 shares of the company’s stock worth $2,173,759,000 after purchasing an additional 1,269,171 shares during the period. Capital Research Global Investors raised its stake in DoorDash by 2.6% during the first quarter. Capital Research Global Investors now owns 9,236,153 shares of the company’s stock worth $1,082,394,000 after purchasing an additional 229,899 shares during the period. Finally, Sands Capital Management LLC raised its stake in DoorDash by 16.6% during the first quarter. Sands Capital Management LLC now owns 9,101,753 shares of the company’s stock worth $1,066,634,000 after purchasing an additional 1,296,144 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

About DoorDash (Get Rating)

DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.

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