Wedbush Reaffirms “Neutral” Rating for DoorDash (NASDAQ:DASH)

Wedbush reaffirmed their neutral rating on shares of DoorDash (NASDAQ:DASH) in a research note issued to investors on Friday morning, Marketbeat.com reports. They currently have a $115.00 price target on the stock.

DASH has been the subject of several other reports. Argus started coverage on shares of DoorDash in a report on Tuesday, July 23rd. They set a hold rating for the company. Wolfe Research started coverage on shares of DoorDash in a report on Tuesday, July 16th. They set an outperform rating and a $130.00 target price for the company. JPMorgan Chase & Co. raised their target price on shares of DoorDash from $111.00 to $137.00 and gave the company a neutral rating in a report on Friday. Truist Financial raised their price target on shares of DoorDash from $145.00 to $150.00 and gave the stock a buy rating in a research note on Friday. Finally, Royal Bank of Canada decreased their price target on shares of DoorDash from $175.00 to $165.00 and set an outperform rating on the stock in a research note on Thursday, May 2nd. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, DoorDash has an average rating of Moderate Buy and a consensus target price of $142.38.

DoorDash Price Performance

Shares of NASDAQ DASH traded up $9.03 during trading on Friday, hitting $117.23. 12,666,595 shares of the company were exchanged, compared to its average volume of 4,409,081. The company has a market cap of $47.94 billion, a price-to-earnings ratio of -108.55, a PEG ratio of 40.25 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’s fifty day moving average price is $109.35 and its 200 day moving average price is $118.25.

DoorDash (NASDAQ:DASH) last posted its earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.28). DoorDash had a negative net margin of 4.24% and a negative return on equity of 6.00%. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter last year, the business posted ($0.44) earnings per share. The business’s revenue was up 23.3% compared to the same quarter last year. On average, research analysts forecast that DoorDash will post 0.07 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In other DoorDash news, General Counsel Tia Sherringham sold 11,740 shares of DoorDash stock in a transaction that occurred 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 transaction, the general counsel now directly owns 183,512 shares of the company’s stock, valued at $20,270,735.52. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Keith Yandell sold 12,088 shares of DoorDash stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $111.84, for a total transaction of $1,351,921.92. Following the sale, the insider now owns 161,651 shares in the company, valued at $18,079,047.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Tia Sherringham sold 11,740 shares of DoorDash stock in a transaction that occurred 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 sale, the general counsel now owns 183,512 shares in the company, valued at approximately $20,270,735.52. The disclosure for this sale can be found here. Insiders have sold a total of 459,016 shares of company stock valued at $50,325,396 over the last ninety days. Corporate insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

A number of hedge funds have recently made changes to their positions in DASH. Janus Henderson Group PLC raised its stake in shares of DoorDash by 11,416.7% during the first quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock valued at $475,837,000 after purchasing an additional 3,425,115 shares during the period. Norges Bank bought a new stake in shares of DoorDash in the fourth quarter worth $264,806,000. Vanguard Group Inc. increased its stake in shares of DoorDash by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock worth $2,897,823,000 after buying an additional 2,259,976 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of DoorDash by 294.5% in the fourth quarter. Franklin Resources Inc. now owns 1,607,776 shares of the company’s stock worth $158,993,000 after buying an additional 1,200,181 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in shares of DoorDash by 40,319.6% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,039,592 shares of the company’s stock worth $102,805,000 after buying an additional 1,037,020 shares during the last quarter. Hedge funds and other 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.