DoorDash (NASDAQ:DASH) Receives “Neutral” Rating from Wedbush

Wedbush restated their neutral rating on shares of DoorDash (NASDAQ:DASH) in a research note published on Thursday, Benzinga reports. Wedbush currently has a $115.00 price target on the stock. Wedbush also issued estimates for DoorDash’s Q3 2024 earnings at $0.04 EPS.

DASH has been the topic of a number of other research reports. Oppenheimer increased their price objective on DoorDash from $140.00 to $150.00 and gave the stock an outperform rating in a report on Monday, April 29th. BMO Capital Markets boosted their price objective on shares of DoorDash from $120.00 to $138.00 and gave the company an outperform rating in a research note on Friday, February 16th. UBS Group lowered their target price on shares of DoorDash from $123.00 to $118.00 and set a neutral rating on the stock in a research note on Friday, February 16th. The Goldman Sachs Group boosted their price target on shares of DoorDash from $109.00 to $122.00 and gave the company a neutral rating in a research report on Friday, February 16th. Finally, Royal Bank of Canada raised shares of DoorDash from a sector perform rating to an outperform rating and upped their price target for the stock from $130.00 to $175.00 in a report on Monday, March 4th. Nine equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $129.96.

DoorDash Stock Down 0.4 %

DASH opened at $113.81 on Thursday. The firm has a 50-day moving average price of $131.86 and a 200-day moving average price of $110.63. DoorDash has a twelve month low of $60.36 and a twelve month high of $143.34. The company has a market capitalization of $45.98 billion, a price-to-earnings ratio of -105.38, a PEG 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) EPS for the quarter, topping 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 company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.45 billion. DoorDash’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same period last year, the firm earned ($0.41) EPS. On average, sell-side analysts expect that DoorDash will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DoorDash news, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $130.95, for a total value of $916,650.00. Following the completion of the sale, the chief financial officer now owns 384,425 shares in the company, valued at $50,340,453.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $130.95, for a total value of $916,650.00. Following the transaction, the chief financial officer now directly owns 384,425 shares of the company’s stock, valued at $50,340,453.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Shona L. Brown sold 700 shares of the stock in a transaction 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 approximately $7,845,800.94. The disclosure for this sale can be found here. Insiders have sold a total of 487,782 shares of company stock worth $64,046,807 in the last ninety days. 9.59% of the stock is owned by insiders.

Institutional Trading of DoorDash

Several large investors have recently modified their holdings of the business. Spire Wealth Management bought a new stake in shares of DoorDash in the 1st quarter worth approximately $25,000. Fifth Third Bancorp boosted its holdings in DoorDash by 448.8% in the third quarter. Fifth Third Bancorp now owns 439 shares of the company’s stock valued at $35,000 after acquiring an additional 359 shares in the last quarter. Venturi Wealth Management LLC increased its position in DoorDash by 54.5% during the 1st quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock valued at $35,000 after purchasing an additional 90 shares during the period. Parkside Financial Bank & Trust raised its holdings in DoorDash by 361.2% in the 4th quarter. Parkside Financial Bank & Trust now owns 392 shares of the company’s stock worth $39,000 after purchasing an additional 307 shares in the last quarter. Finally, Covestor Ltd lifted its position in shares of DoorDash by 101.2% in the 3rd quarter. Covestor Ltd now owns 503 shares of the company’s stock worth $40,000 after purchasing an additional 253 shares during the period. 90.64% of the stock is owned by institutional investors.

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.