DoorDash (NASDAQ:DASH) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of DoorDash (NASDAQ:DASH) in a report issued on Thursday, Benzinga reports. They currently have a $137.00 price objective on the stock.

Several other research firms have also issued reports on DASH. Oppenheimer lifted their price objective on shares of DoorDash from $140.00 to $150.00 and gave the company an outperform rating in a research note on Monday, April 29th. Morgan Stanley raised shares of DoorDash from an equal weight rating to an overweight rating and boosted their target price for the stock from $135.00 to $145.00 in a research report on Thursday, February 22nd. UBS Group cut their target price on shares of DoorDash from $123.00 to $118.00 and set a neutral rating for the company in a research report on Friday, February 16th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of DoorDash from $140.00 to $155.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. Finally, Susquehanna boosted their target price on shares of DoorDash from $110.00 to $135.00 and gave the stock a positive rating in a research report on Tuesday, February 20th. Nine analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $129.96.

DoorDash Stock Down 0.4 %

DoorDash stock opened at $113.81 on Thursday. The company’s fifty day simple moving average is $131.86 and its 200-day simple moving average is $110.63. DoorDash has a 12 month low of $60.36 and a 12 month high of $143.34. The stock has a market cap of $45.98 billion, a P/E ratio of -105.38, a P/E/G ratio of 13.07 and a beta of 1.78.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The business had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.45 billion. During the same quarter in the previous year, the business earned ($0.41) EPS. DoorDash’s quarterly revenue was up 23.5% compared to the same quarter last year. On average, equities research analysts expect that DoorDash will post 0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other DoorDash news, Director Shona L. Brown sold 700 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $109.71, for a total transaction of $76,797.00. Following the sale, the director now directly owns 71,514 shares of the company’s stock, valued at $7,845,800.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Shona L. Brown sold 700 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $109.71, for a total transaction of $76,797.00. Following the sale, the director now directly owns 71,514 shares of the company’s stock, valued at $7,845,800.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Gordon S. Lee sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $124.50, for a total transaction of $124,500.00. Following the completion of the sale, the chief accounting officer now directly owns 92,207 shares of the company’s stock, valued at approximately $11,479,771.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 487,782 shares of company stock valued at $64,046,807. 9.59% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DoorDash

Hedge funds and other institutional investors have recently made changes to their positions in the company. Spire Wealth Management acquired a new stake in shares of DoorDash in the 1st quarter valued at $25,000. Fifth Third Bancorp increased its stake in shares of DoorDash by 448.8% in the 3rd quarter. Fifth Third Bancorp now owns 439 shares of the company’s stock valued at $35,000 after buying an additional 359 shares during the period. Venturi Wealth Management LLC increased its stake in shares of DoorDash by 54.5% in the 1st quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock valued at $35,000 after buying an additional 90 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of DoorDash by 361.2% in the 4th quarter. Parkside Financial Bank & Trust now owns 392 shares of the company’s stock valued at $39,000 after buying an additional 307 shares during the period. Finally, Covestor Ltd increased its stake in shares of DoorDash by 101.2% in the 3rd quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $40,000 after buying an additional 253 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

About DoorDash

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.