DoorDash (NASDAQ:DASH) Rating Reiterated by Cantor Fitzgerald

DoorDash (NASDAQ:DASH)‘s stock had its “overweight” rating restated by stock analysts at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They presently have a $160.00 target price on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 12.70% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of DoorDash from $111.00 to $137.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Argus assumed coverage on DoorDash in a report on Tuesday, July 23rd. They issued a “hold” rating for the company. Truist Financial upped their target price on DoorDash from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Barclays raised their price target on DoorDash from $113.00 to $120.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Finally, Piper Sandler reiterated a “neutral” rating and set a $125.00 price objective (up previously from $115.00) on shares of DoorDash in a research note on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $146.44.

DoorDash Stock Down 0.2 %

Shares of NASDAQ:DASH traded down $0.26 during midday trading on Monday, reaching $141.97. 994,675 shares of the company were exchanged, compared to its average volume of 3,930,378. The firm has a market cap of $58.05 billion, a PE ratio of -131.50, a P/E/G ratio of 295.70 and a beta of 1.69. DoorDash has a fifty-two week low of $69.90 and a fifty-two week high of $146.36. The stock has a fifty day simple moving average of $125.10 and a two-hundred day simple moving average of $121.82.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.44) EPS. As a group, analysts forecast that DoorDash will post 0.01 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In other news, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction on Monday, July 15th. The stock was sold at an average price of $104.96, for a total value of $5,685,263.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $105.57, for a total transaction of $5,278,500.00. Following the sale, the director now owns 19,982 shares of the company’s stock, valued at approximately $2,109,499.74. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Tony Xu sold 54,166 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $104.96, for a total value of $5,685,263.36. The disclosure for this sale can be found here. Insiders sold a total of 281,503 shares of company stock worth $33,988,063 over the last three months. Corporate insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. lifted its holdings in shares of DoorDash by 82.0% during the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after purchasing an additional 132 shares during the period. Headlands Technologies LLC acquired a new position in DoorDash during the 2nd quarter worth about $32,000. Versant Capital Management Inc grew its position in shares of DoorDash by 340.8% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after buying an additional 259 shares during the last quarter. ORG Partners LLC grew its position in shares of DoorDash by 2,108.3% in the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after buying an additional 253 shares during the last quarter. Finally, Quest Partners LLC increased its stake in shares of DoorDash by 146.8% in the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after buying an additional 204 shares during the period. Institutional investors own 90.64% of the company’s stock.

DoorDash Company Profile

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.