DoorDash (NASDAQ:DASH) Now Covered by Analysts at Cantor Fitzgerald

Cantor Fitzgerald assumed coverage on shares of DoorDash (NASDAQ:DASH) in a research note released on Thursday morning, Marketbeat.com reports. The brokerage issued an overweight rating and a $160.00 price objective on the stock.

A number of other analysts have also recently weighed in on DASH. KeyCorp started coverage on shares of DoorDash in a report on Thursday, July 11th. They issued a sector weight rating on the stock. Benchmark restated a buy rating and issued a $150.00 price target on shares of DoorDash in a research note on Tuesday, July 30th. Roth Mkm boosted their price objective on DoorDash from $118.00 to $124.00 and gave the stock a neutral rating in a research report on Monday, August 5th. Wells Fargo & Company increased their price objective on DoorDash from $125.00 to $127.00 and gave the stock an equal weight rating in a report on Friday, August 2nd. Finally, Piper Sandler reaffirmed a neutral rating and set a $125.00 target price (up previously from $115.00) on shares of DoorDash in a research note on Friday, August 2nd. Eleven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $142.57.

DoorDash Price Performance

DASH stock opened at $126.35 on Thursday. The firm has a market cap of $51.67 billion, a price-to-earnings ratio of -116.99, a PEG ratio of 768.41 and a beta of 1.67. DoorDash has a 1-year low of $69.90 and a 1-year high of $143.34. The firm has a fifty day moving average price of $116.37 and a two-hundred day moving average price of $120.91.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The firm’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.44) earnings per share.

Insider Buying and Selling

In other news, CEO Tony Xu sold 131,590 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $111.61, for a total transaction of $14,686,759.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Tony Xu sold 131,590 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $111.61, for a total transaction of $14,686,759.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $111.96, for a total transaction of $5,598,000.00. Following the transaction, the director now directly owns 39,275 shares in the company, valued at $4,397,229. The disclosure for this sale can be found here. In the last 90 days, insiders sold 436,359 shares of company stock valued at $48,534,873. Company insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Hedge funds and other institutional investors have recently modified their holdings of the business. Spire Wealth Management acquired a new stake in shares of DoorDash in the 1st quarter valued at approximately $25,000. ORG Partners LLC lifted its stake in 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 purchasing an additional 253 shares during the last quarter. Headlands Technologies LLC acquired a new stake in DoorDash in the second quarter valued at approximately $32,000. Meeder Asset Management Inc. grew its stake 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 buying an additional 132 shares during the last quarter. Finally, Hollencrest Capital Management acquired a new position in shares of DoorDash during the first quarter worth $42,000. 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.