DoorDash (NASDAQ:DASH) Hits New 1-Year High After Strong Earnings

Shares of DoorDash, Inc. (NASDAQ:DASH) hit a new 52-week high during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $165.07 and last traded at $160.00, with a volume of 1383663 shares. The stock had previously closed at $155.25.

The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.17. The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.46%. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.19) EPS.

Analysts Set New Price Targets

A number of equities research analysts recently commented on DASH shares. Benchmark increased their price target on DoorDash from $152.00 to $173.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Needham & Company LLC upped their price target on DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday. JMP Securities upped their price objective on DoorDash from $160.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday. Roth Mkm raised their price objective on DoorDash from $118.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Finally, Redburn Atlantic began coverage on DoorDash in a research note on Friday, July 26th. They issued a “buy” rating and a $170.00 price objective for the company. Ten research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $163.12.

Insider Activity

In other news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $149.83, for a total value of $7,491,500.00. Following the transaction, the director now owns 18,089 shares in the company, valued at approximately $2,710,274.87. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other DoorDash news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $149.83, for a total transaction of $7,491,500.00. Following the completion of the sale, the director now directly owns 18,089 shares in the company, valued at approximately $2,710,274.87. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Prabir Adarkar sold 32,124 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $147.99, for a total transaction of $4,754,030.76. Following the completion of the transaction, the chief operating officer now directly owns 963,094 shares in the company, valued at approximately $142,528,281.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 383,710 shares of company stock worth $53,725,640. Insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Institutional investors have recently bought and sold shares of the business. Meeder Asset Management Inc. lifted its position in DoorDash by 82.0% during the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after purchasing an additional 132 shares during the last quarter. Headlands Technologies LLC purchased a new stake in DoorDash in the second quarter worth $32,000. Versant Capital Management Inc increased its holdings in DoorDash by 340.8% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after purchasing an additional 259 shares during the period. ORG Partners LLC raised its holdings in shares of DoorDash by 2,108.3% in the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after acquiring an additional 253 shares in the last quarter. Finally, Quest Partners LLC boosted its stake in shares of DoorDash by 146.8% during the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after purchasing an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Trading Down 0.7 %

The company has a 50-day moving average price of $140.40 and a 200 day moving average price of $124.21. The stock has a market capitalization of $64.06 billion, a P/E ratio of -345.91, a price-to-earnings-growth ratio of 331.02 and a beta of 1.70.

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.