DoorDash (NASDAQ:DASH) Raised to Overweight at KeyCorp

KeyCorp upgraded shares of DoorDash (NASDAQ:DASH) from a sector weight rating to an overweight rating in a research note released on Wednesday, MarketBeat Ratings reports. They currently have $177.00 target price on the stock. KeyCorp also issued estimates for DoorDash’s Q3 2024 earnings at $0.19 EPS, Q4 2024 earnings at $0.22 EPS, FY2024 earnings at ($0.03) EPS, FY2025 earnings at $1.42 EPS and FY2026 earnings at $3.17 EPS.

DASH has been the topic of several other reports. Oppenheimer lifted their price objective on DoorDash from $125.00 to $145.00 and gave the stock an outperform rating in a report on Friday, August 2nd. BTIG Research upgraded DoorDash from a neutral rating to a buy rating and set a $155.00 price objective on the stock in a report on Thursday, September 19th. Piper Sandler restated a neutral rating and set a $125.00 target price (up from $115.00) on shares of DoorDash in a report on Friday, August 2nd. Morgan Stanley boosted their target price on DoorDash from $145.00 to $150.00 and gave the stock an overweight rating in a report on Friday, August 2nd. Finally, Truist Financial boosted their target price on DoorDash from $145.00 to $150.00 and gave the stock a buy rating in a report on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, DoorDash presently has a consensus rating of Moderate Buy and a consensus price target of $145.97.

DoorDash Stock Down 0.6 %

Shares of DoorDash stock opened at $142.23 on Wednesday. DoorDash has a twelve month low of $69.90 and a twelve month high of $146.36. The business has a 50-day moving average price of $125.10 and a 200 day moving average price of $121.95. The firm has a market cap of $58.53 billion, a PE ratio of -131.69, a P/E/G ratio of 295.70 and a beta of 1.69.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data 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 firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the firm posted ($0.44) earnings per share. The company’s quarterly revenue was up 23.3% on a year-over-year basis. On average, sell-side analysts expect that DoorDash will post 0.01 EPS for the current year.

Insider Transactions at DoorDash

In other news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $107.75, for a total transaction of $5,836,386.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $105.57, for a total transaction of $5,278,500.00. Following the sale, the director now owns 19,982 shares of the company’s stock, valued at $2,109,499.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $107.75, for a total value of $5,836,386.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 350,223 shares of company stock valued at $41,391,523. 7.92% of the stock is currently owned by company insiders.

Institutional Trading of DoorDash

A number of large investors have recently modified their holdings of DASH. Meeder Asset Management Inc. increased its holdings in DoorDash by 82.0% in the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after buying an additional 132 shares during the last quarter. Headlands Technologies LLC purchased a new position in DoorDash in the second quarter valued at $32,000. Versant Capital Management Inc increased its holdings in DoorDash by 340.8% in the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after buying an additional 259 shares during the last quarter. ORG Partners LLC increased its holdings in DoorDash by 2,108.3% in the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after buying an additional 253 shares during the last quarter. Finally, Quest Partners LLC increased its holdings in DoorDash by 146.8% in the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after buying an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

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.