DoorDash (NASDAQ:DASH) Coverage Initiated at Raymond James

Equities research analysts at Raymond James initiated coverage on shares of DoorDash (NASDAQ:DASH) in a research report issued on Tuesday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $155.00 price target on the stock. Raymond James’ price objective would indicate a potential upside of 7.69% from the company’s current price.

A number of other research firms also recently issued reports on DASH. Barclays boosted their target price on shares of DoorDash from $113.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Benchmark restated a “buy” rating and issued a $150.00 target price on shares of DoorDash in a report on Tuesday, July 30th. Argus initiated coverage on shares of DoorDash in a report on Tuesday, July 23rd. They issued a “hold” rating for the company. Needham & Company LLC boosted their price objective on shares of DoorDash from $137.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Morgan Stanley boosted their price objective on shares of DoorDash from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and a consensus price target of $145.50.

DoorDash Price Performance

NASDAQ:DASH opened at $143.93 on Tuesday. The firm has a 50 day simple moving average of $123.53 and a 200-day simple moving average of $121.71. The firm has a market cap of $59.23 billion, a PE ratio of -133.27, a P/E/G ratio of 295.70 and a beta of 1.69. DoorDash has a 1-year low of $69.90 and a 1-year high of $146.36.

DoorDash (NASDAQ:DASH) last released its earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. 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 previous year, the firm posted ($0.44) earnings per share. DoorDash’s revenue for the quarter was up 23.3% compared to the same quarter last year. As a group, sell-side analysts expect that DoorDash will post 0.01 earnings per share for the current fiscal year.

Insider Activity at DoorDash

In related news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $107.75, for a total value of $5,836,386.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other DoorDash news, CEO Tony Xu sold 54,166 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $107.75, for a total transaction of $5,836,386.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $109.30, for a total transaction of $765,100.00. Following the sale, the chief financial officer now directly owns 424,223 shares in the company, valued at $46,367,573.90. The disclosure for this sale can be found here. Insiders have sold 357,223 shares of company stock valued at $42,156,623 over the last ninety days. Corporate insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

Institutional investors and hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. raised its holdings 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 purchasing an additional 132 shares during the period. Headlands Technologies LLC bought a new position in shares of DoorDash during the second quarter worth about $32,000. Versant Capital Management Inc grew its position in shares of DoorDash by 340.8% during the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after acquiring an additional 259 shares during the last quarter. ORG Partners LLC grew its position in shares of DoorDash by 2,108.3% during the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock worth $37,000 after acquiring an additional 253 shares during the last quarter. Finally, Quest Partners LLC grew its position in shares of DoorDash by 146.8% during the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after acquiring an additional 204 shares during the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

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.