DoorDash, Inc. (NYSE:DASH) Given Consensus Rating of “Moderate Buy” by Brokerages

DoorDash, Inc. (NYSE:DASHGet Rating) has received an average recommendation of “Moderate Buy” from the twenty-four research firms that are covering the firm, MarketBeat.com reports. Nine research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $139.24.

Several research analysts have recently issued reports on DASH shares. DA Davidson cut their target price on shares of DoorDash from $135.00 to $82.00 and set a “neutral” rating on the stock in a report on Friday, June 3rd. Sanford C. Bernstein began coverage on DoorDash in a research report on Monday, May 23rd. They issued a “top pick” rating and a $90.00 price target for the company. JMP Securities lowered their price target on DoorDash from $200.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, June 2nd. Morgan Stanley initiated coverage on DoorDash in a research note on Monday, April 25th. They set an “equal weight” rating and a $100.00 price target for the company. Finally, The Goldman Sachs Group started coverage on DoorDash in a research note on Tuesday, June 21st. They set a “neutral” rating and a $67.00 price objective for the company.

DoorDash Price Performance

NYSE DASH opened at $72.03 on Tuesday. The firm has a market cap of $25.30 billion, a price-to-earnings ratio of -47.08 and a beta of 1.18. The company has a fifty day moving average price of $69.58 and a 200-day moving average price of $88.00. DoorDash has a 1 year low of $56.67 and a 1 year high of $257.25.

DoorDash (NYSE:DASHGet Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.10). DoorDash had a negative net margin of 9.97% and a negative return on equity of 11.29%. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period last year, the company earned ($0.34) earnings per share. DoorDash’s revenue for the quarter was up 35.2% compared to the same quarter last year. On average, research analysts anticipate that DoorDash will post -1.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Keith Yandell sold 13,394 shares of DoorDash stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $63.57, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. In other DoorDash news, insider Keith Yandell sold 13,394 shares of DoorDash stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $63.57, for a total value of $851,456.58. Following the transaction, the insider now owns 261,667 shares in the company, valued at $16,634,171.19. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Shona L. Brown sold 1,250 shares of DoorDash stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $69.33, for a total transaction of $86,662.50. Following the completion of the transaction, the director now owns 89,778 shares in the company, valued at approximately $6,224,308.74. The disclosure for this sale can be found here. Insiders have sold 190,358 shares of company stock valued at $12,609,622 over the last quarter. Insiders own 15.54% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Institutional investors and hedge funds have recently modified their holdings of the business. National Bank of Canada FI acquired a new position in shares of DoorDash during the fourth quarter valued at about $79,000. Janney Montgomery Scott LLC bought a new stake in shares of DoorDash during the fourth quarter worth $965,000. State of Michigan Retirement System bought a new stake in shares of DoorDash during the fourth quarter worth $711,000. Allspring Global Investments Holdings LLC bought a new position in DoorDash in the fourth quarter valued at $41,981,000. Finally, State of New Jersey Common Pension Fund D grew its position in shares of DoorDash by 44.8% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 64,311 shares of the company’s stock valued at $9,576,000 after acquiring an additional 19,893 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Company Profile

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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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Analyst Recommendations for DoorDash (NYSE:DASH)

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