JMP Securities Reaffirms “Market Outperform” Rating for DoorDash (NASDAQ:DASH)

DoorDash (NASDAQ:DASH)‘s stock had its “market outperform” rating reaffirmed by research analysts at JMP Securities in a report issued on Thursday,Benzinga reports. They presently have a $200.00 price objective on the stock. JMP Securities’ target price indicates a potential upside of 19.23% from the company’s current price.

DASH has been the topic of a number of other reports. Royal Bank of Canada upped their price target on shares of DoorDash from $175.00 to $215.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Needham & Company LLC boosted their price objective on DoorDash from $145.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 target price on shares of DoorDash in a report on Monday, October 7th. Evercore ISI upped their price target on shares of DoorDash from $155.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, BMO Capital Markets lifted their price objective on DoorDash from $140.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Nine equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.70.

DoorDash Stock Performance

DASH stock opened at $167.75 on Thursday. The business has a 50-day simple moving average of $170.59 and a two-hundred day simple moving average of $140.88. The company has a market capitalization of $69.68 billion, a P/E ratio of -372.78, a price-to-earnings-growth ratio of 13.56 and a beta of 1.70. DoorDash has a 52-week low of $93.33 and a 52-week high of $181.78.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period last year, the company posted ($0.19) earnings per share. DoorDash’s quarterly revenue was up 25.0% compared to the same quarter last year. As a group, sell-side analysts forecast that DoorDash will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DoorDash news, CEO Tony Xu sold 115,432 shares of DoorDash stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $177.01, for a total value of $20,432,618.32. Following the completion of the transaction, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at approximately $265,515. The trade was a 98.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $143.76, for a total transaction of $7,188,000.00. Following the sale, the director now directly owns 18,089 shares in the company, valued at approximately $2,600,474.64. The trade was a 73.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 917,362 shares of company stock valued at $154,996,189 over the last quarter. Corporate insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Several institutional investors have recently bought and sold shares of the stock. Asset Management One Co. Ltd. lifted its position in DoorDash by 10.6% in the third quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock worth $16,012,000 after buying an additional 10,755 shares during the last quarter. Marshall Wace LLP grew its holdings in DoorDash by 930.5% during the 2nd quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock valued at $73,534,000 after purchasing an additional 610,388 shares during the last quarter. Forsta AP Fonden raised its position in DoorDash by 18.6% in the 3rd quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock worth $9,206,000 after purchasing an additional 10,100 shares during the period. Sanctuary Advisors LLC lifted its stake in DoorDash by 48.8% in the third quarter. Sanctuary Advisors LLC now owns 10,663 shares of the company’s stock worth $1,522,000 after purchasing an additional 3,498 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its stake in shares of DoorDash by 13.2% during the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after acquiring an additional 1,645,186 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

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.