DoorDash (NASDAQ:DASH) Raised to Buy at Argus

DoorDash (NASDAQ:DASH) was upgraded by research analysts at Argus from a “hold” rating to a “buy” rating in a research note issued to investors on Friday,Briefing.com Automated Import reports.

DASH has been the subject of a number of other research reports. Barclays boosted their price objective on shares of DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Susquehanna boosted their target price on shares of DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Keefe, Bruyette & Woods raised shares of DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 target price for the company in a research report on Wednesday, September 25th. BMO Capital Markets increased their price objective on shares of DoorDash from $140.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC lifted their target price on shares of DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Nine 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 stock has a consensus rating of “Moderate Buy” and an average price target of $168.39.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $167.65 on Friday. The stock has a 50 day moving average price of $167.15 and a 200 day moving average price of $137.10. The firm has a market capitalization of $69.64 billion, a price-to-earnings ratio of -372.56, a PEG 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 announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the firm posted ($0.19) earnings per share. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. Analysts forecast that DoorDash will post 0.26 earnings per share for the current year.

Insiders Place Their Bets

In other DoorDash news, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $179.76, for a total value of $1,258,320.00. Following the completion of the transaction, the chief financial officer now directly owns 373,993 shares of the company’s stock, valued at $67,228,981.68. The trade was a 1.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $140.06, for a total transaction of $7,586,489.96. The disclosure for this sale can be found here. Insiders have sold 951,528 shares of company stock valued at $159,212,079 over the last ninety days. Company insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

A number of large investors have recently made changes to their positions in the company. Baillie Gifford & Co. raised its stake in DoorDash by 13.2% in the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after buying an additional 1,645,186 shares in the last quarter. Dragoneer Investment Group LLC raised its stake in DoorDash by 77.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock worth $309,755,000 after acquiring an additional 1,246,567 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in DoorDash by 216.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock valued at $154,486,000 after acquiring an additional 739,961 shares in the last quarter. Jupiter Asset Management Ltd. increased its position in shares of DoorDash by 3,284.7% during the second quarter. Jupiter Asset Management Ltd. now owns 729,779 shares of the company’s stock worth $79,385,000 after purchasing an additional 708,218 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of DoorDash by 14.5% in the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock valued at $789,766,000 after purchasing an additional 700,465 shares during the period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

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.