DoorDash (NASDAQ:DASH) Stock Rating Upgraded by Argus

DoorDash (NASDAQ:DASH) was upgraded by Argus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, Marketbeat reports.

Several other equities research analysts also recently issued reports on the company. Barclays increased their price target on DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Keefe, Bruyette & Woods upgraded shares of DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 target price on the stock in a report on Wednesday, September 25th. The Goldman Sachs Group lifted their price target on shares of DoorDash from $142.00 to $161.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. DA Davidson increased their price objective on shares of DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Loop Capital boosted their price objective on shares of DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Nine research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $168.39.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $171.00 on Friday. DoorDash has a 52-week low of $93.33 and a 52-week high of $181.78. The stock has a market cap of $71.03 billion, a P/E ratio of -380.00, a P/E/G ratio of 13.56 and a beta of 1.70. The firm has a 50 day moving average price of $167.59 and a 200 day moving average price of $137.52.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.17. The company had revenue of $2.71 billion during 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 2.41%. The firm’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.19) EPS. Analysts predict that DoorDash will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction that occurred on Monday, October 14th. The stock was 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 of the company’s stock, valued at approximately $2,710,274.87. This trade represents a 73.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Tony Xu sold 108,334 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $180.07, for a total value of $19,507,703.38. Following the completion of the sale, the chief executive officer now owns 1,500 shares of the company’s stock, valued at $270,105. This trade represents a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 951,528 shares of company stock valued at $159,212,079. 7.92% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Rakuten Securities Inc. grew its stake in shares of DoorDash by 302.3% in the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after acquiring an additional 130 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in DoorDash by 82.0% in the 2nd 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 period. Headlands Technologies LLC bought a new stake in DoorDash in the 2nd quarter valued at about $32,000. Quest Partners LLC grew its position in shares of DoorDash by 146.8% during the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after purchasing an additional 204 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of DoorDash by 136.4% during the second quarter. Fifth Third Bancorp now owns 364 shares of the company’s stock worth $40,000 after purchasing an additional 210 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.