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

Shares of DoorDash, Inc. (NYSE:DASHGet Rating) have received an average recommendation of “Moderate Buy” from the twenty-three analysts that are covering the stock, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $131.70.

A number of research analysts have weighed in on the stock. Truist Financial dropped their price objective on shares of DoorDash from $200.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, June 2nd. Barclays raised their price objective on shares of DoorDash from $80.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, August 5th. The Goldman Sachs Group assumed coverage on shares of DoorDash in a research note on Tuesday, June 21st. They issued a “neutral” rating and a $67.00 price objective on the stock. DA Davidson dropped their price objective on shares of DoorDash from $135.00 to $82.00 and set a “neutral” rating on the stock in a research note on Friday, June 3rd. Finally, Raymond James assumed coverage on shares of DoorDash in a research note on Monday, June 6th. They issued a “market perform” rating on the stock.

DoorDash Stock Performance

NYSE:DASH opened at $57.66 on Wednesday. The firm’s fifty day moving average is $68.21 and its 200-day moving average is $78.14. DoorDash has a 52 week low of $56.60 and a 52 week high of $257.25. The firm has a market cap of $22.26 billion, a P/E ratio of -29.57 and a beta of 1.24.

DoorDash (NYSE:DASHGet Rating) last issued its earnings results on Thursday, August 4th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.33). The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.52 billion. DoorDash had a negative return on equity of 12.82% and a negative net margin of 12.16%. The firm’s revenue was up 30.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.30) earnings per share. As a group, sell-side analysts anticipate that DoorDash will post -2.36 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In other DoorDash news, General Counsel Tia Sherringham sold 625 shares of DoorDash stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $74.25, for a total transaction of $46,406.25. Following the completion of the sale, the general counsel now directly owns 167,959 shares in the company, valued at $12,470,955.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other DoorDash news, General Counsel Tia Sherringham sold 625 shares of DoorDash stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $74.25, for a total transaction of $46,406.25. Following the transaction, the general counsel now directly owns 167,959 shares of the company’s stock, valued at $12,470,955.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Shona L. Brown sold 935 shares of DoorDash stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $71.24, for a total transaction of $66,609.40. Following the transaction, the director now directly owns 91,028 shares in the company, valued at $6,484,834.72. The disclosure for this sale can be found here. Insiders sold a total of 131,034 shares of company stock worth $8,462,412 over the last three months. 12.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DASH. Capital Research Global Investors increased its stake in shares of DoorDash by 82.6% in the fourth quarter. Capital Research Global Investors now owns 9,006,254 shares of the company’s stock worth $1,341,031,000 after buying an additional 4,074,501 shares during the period. Hhlr Advisors LTD. increased its position in DoorDash by 199.4% during the 1st quarter. Hhlr Advisors LTD. now owns 3,881,700 shares of the company’s stock valued at $454,896,000 after purchasing an additional 2,585,400 shares during the period. Coatue Management LLC increased its position in DoorDash by 80.0% during the 1st quarter. Coatue Management LLC now owns 5,280,472 shares of the company’s stock valued at $618,819,000 after purchasing an additional 2,347,602 shares during the period. Himension Capital Singapore PTE. LTD. increased its position in DoorDash by 146.9% during the 2nd quarter. Himension Capital Singapore PTE. LTD. now owns 3,930,025 shares of the company’s stock valued at $252,190,000 after purchasing an additional 2,338,233 shares during the period. Finally, Vanguard Group Inc. increased its position in DoorDash by 18.8% during the 1st quarter. Vanguard Group Inc. now owns 12,862,889 shares of the company’s stock valued at $1,507,402,000 after purchasing an additional 2,032,637 shares during the period. 80.51% of the stock is owned by hedge funds and other institutional investors.

DoorDash Company Profile

(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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Analyst Recommendations for DoorDash (NYSE:DASH)

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