Raymond James Begins Coverage on DoorDash (NASDAQ:DASH)

Raymond James started coverage on shares of DoorDash (NASDAQ:DASH) in a report issued on Tuesday, Marketbeat Ratings reports. The firm issued an outperform rating and a $155.00 price target on the stock.

Other research analysts have also issued research reports about the company. Needham & Company LLC increased their price target on DoorDash from $137.00 to $145.00 and gave the stock a buy rating in a report on Friday, August 2nd. Susquehanna upped their target price on shares of DoorDash from $135.00 to $140.00 and gave the stock a positive rating in a report on Monday, August 5th. JPMorgan Chase & Co. lifted their price target on DoorDash from $111.00 to $137.00 and gave the company a neutral rating in a research note on Friday, August 2nd. Piper Sandler reissued a neutral rating and issued a $125.00 price objective (up from $115.00) on shares of DoorDash in a research note on Friday, August 2nd. Finally, BTIG Research raised DoorDash from a neutral rating to a buy rating and set a $155.00 target price on the stock in a research report on Thursday, September 19th. Ten analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, DoorDash has a consensus rating of Moderate Buy and an average price target of $145.50.

DoorDash Stock Performance

Shares of NASDAQ:DASH opened at $143.02 on Tuesday. DoorDash has a 52-week low of $69.90 and a 52-week high of $146.36. The company has a market capitalization of $58.86 billion, a PE ratio of -132.43, a price-to-earnings-growth ratio of 295.70 and a beta of 1.69. The company has a fifty day moving average of $124.38 and a 200-day moving average of $121.86.

DoorDash (NASDAQ:DASH) last posted its earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the previous year, the firm earned ($0.44) earnings per share. The company’s revenue was up 23.3% compared to the same quarter last year. On average, equities analysts forecast that DoorDash will post 0.01 EPS for the current fiscal year.

Insider Buying and Selling

In other DoorDash news, Director Shona L. Brown sold 5,005 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $120.00, for a total transaction of $600,600.00. Following the completion of the transaction, the director now owns 65,186 shares in the company, valued at $7,822,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Shona L. Brown sold 5,005 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $120.00, for a total value of $600,600.00. Following the sale, the director now owns 65,186 shares in the company, valued at approximately $7,822,320. The disclosure for this sale can be found here. In the last 90 days, insiders sold 350,223 shares of company stock valued at $41,391,523. 7.92% of the stock is owned by insiders.

Hedge Funds Weigh In On DoorDash

Several hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its stake in DoorDash by 102.5% in the 4th quarter. Wells Fargo & Company MN now owns 199,152 shares of the company’s stock worth $19,694,000 after purchasing an additional 100,787 shares during the period. Jupiter Asset Management Ltd. bought a new position in shares of DoorDash in the first quarter valued at approximately $2,969,000. Bank of Nova Scotia grew its stake in DoorDash by 298.3% during the fourth quarter. Bank of Nova Scotia now owns 186,201 shares of the company’s stock valued at $18,413,000 after acquiring an additional 139,450 shares in the last quarter. D L Carlson Investment Group Inc. purchased a new position in DoorDash during the fourth quarter valued at approximately $2,421,000. Finally, KBC Group NV increased its holdings in DoorDash by 64.8% during the 4th quarter. KBC Group NV now owns 31,879 shares of the company’s stock worth $3,153,000 after acquiring an additional 12,538 shares during the period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

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.