DoorDash (NASDAQ:DASH) Now Covered by Analysts at Redburn Atlantic

Redburn Atlantic initiated coverage on shares of DoorDash (NASDAQ:DASH) in a research note released on Friday, Marketbeat.com reports. The brokerage issued a buy rating and a $170.00 price target on the stock.

A number of other equities analysts also recently weighed in on DASH. Moffett Nathanson raised shares of DoorDash from a neutral rating to a buy rating and raised their target price for the company from $118.00 to $164.00 in a research note on Thursday, April 11th. Oppenheimer increased their price target on shares of DoorDash from $140.00 to $150.00 and gave the company an outperform rating in a report on Monday, April 29th. Loop Capital began coverage on shares of DoorDash in a report on Friday, April 19th. They set a buy rating and a $170.00 price target on the stock. KeyCorp assumed coverage on shares of DoorDash in a report on Thursday, July 11th. They set a sector weight rating on the stock. Finally, JMP Securities restated a market outperform rating and issued a $140.00 target price on shares of DoorDash in a report on Thursday, July 18th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $135.96.

DoorDash Price Performance

DASH stock opened at $105.99 on Friday. DoorDash has a 1 year low of $69.90 and a 1 year high of $143.34. The company has a market cap of $43.34 billion, a P/E ratio of -98.14, a PEG ratio of 38.96 and a beta of 1.67. The firm has a 50-day moving average of $109.44 and a 200 day moving average of $118.26.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same period in the prior year, the firm earned ($0.41) earnings per share. DoorDash’s revenue was up 23.5% on a year-over-year basis. On average, equities research analysts expect that DoorDash will post 0.07 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Shona L. Brown sold 1,712 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $110.97, for a total transaction of $189,980.64. Following the sale, the director now directly owns 70,191 shares in the company, valued at approximately $7,789,095.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Shona L. Brown sold 1,712 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $110.97, for a total transaction of $189,980.64. Following the sale, the director now directly owns 70,191 shares in the company, valued at approximately $7,789,095.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Tia Sherringham sold 11,740 shares of DoorDash stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $110.46, for a total transaction of $1,296,800.40. Following the completion of the sale, the general counsel now owns 183,512 shares in the company, valued at $20,270,735.52. The disclosure for this sale can be found here. Insiders have sold 452,016 shares of company stock worth $49,578,916 in the last three months. Company insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Venturi Wealth Management LLC increased its holdings in DoorDash by 54.5% in the 1st quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock valued at $35,000 after acquiring an additional 90 shares during the last quarter. Everhart Financial Group Inc. increased its holdings in DoorDash by 3.1% in the 2nd quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company’s stock valued at $355,000 after acquiring an additional 99 shares during the last quarter. Hillsdale Investment Management Inc. grew its stake in shares of DoorDash by 1.6% in the 4th quarter. Hillsdale Investment Management Inc. now owns 6,540 shares of the company’s stock worth $647,000 after buying an additional 100 shares in the last quarter. Summit Trail Advisors LLC grew its stake in shares of DoorDash by 0.3% in the 1st quarter. Summit Trail Advisors LLC now owns 36,925 shares of the company’s stock worth $5,085,000 after buying an additional 106 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of DoorDash by 17.2% in the 1st quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock worth $101,000 after buying an additional 108 shares in the last quarter. 90.64% of the stock is currently owned by 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.