DoorDash (NASDAQ:DASH) Stock Rating Reaffirmed by Cantor Fitzgerald

DoorDash (NASDAQ:DASH)‘s stock had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald in a research note issued on Monday, Benzinga reports. They currently have a $160.00 price objective on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 12.93% from the company’s current price.

Several other research firms also recently weighed in on DASH. BMO Capital Markets increased their price target on shares of DoorDash from $127.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Truist Financial raised their price objective on shares of DoorDash from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Morgan Stanley raised their price objective on shares of DoorDash from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Susquehanna lifted their price target on shares of DoorDash from $135.00 to $140.00 and gave the company a “positive” rating in a report on Monday, August 5th. Finally, Evercore ISI lifted their price target on shares of DoorDash from $145.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Eleven equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $143.40.

DoorDash Trading Up 1.6 %

Shares of DASH stock opened at $141.68 on Monday. DoorDash has a 12-month low of $69.90 and a 12-month high of $143.34. The firm’s 50 day moving average is $122.71 and its 200 day moving average is $121.55. The stock has a market capitalization of $57.93 billion, a P/E ratio of -131.19, a P/E/G ratio of 275.59 and a beta of 1.69.

DoorDash (NASDAQ:DASH) last issued its earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.29). DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the prior year, the business posted ($0.44) EPS. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. As a group, equities analysts predict that DoorDash will post 0.01 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the completion of the transaction, the director now directly owns 18,089 shares of the company’s stock, valued at approximately $2,355,187.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $127.86, for a total transaction of $895,020.00. Following the completion of the sale, the chief financial officer now owns 396,152 shares in the company, valued at approximately $50,651,994.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the sale, the director now owns 18,089 shares of the company’s stock, valued at approximately $2,355,187.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 303,057 shares of company stock valued at $34,570,133. Company insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ORG Partners LLC lifted its holdings in DoorDash by 2,108.3% during the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after buying an additional 253 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of DoorDash in the 2nd quarter valued at about $32,000. Meeder Asset Management Inc. raised its holdings in shares of 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 in the last quarter. Hollencrest Capital Management bought a new stake in shares of DoorDash in the 1st quarter valued at about $42,000. Finally, Versant Capital Management Inc raised its holdings in shares of DoorDash by 340.8% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after purchasing an additional 259 shares in the last quarter. 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.