DoorDash (NASDAQ:DASH) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of DoorDash (NASDAQ:DASH) in a research report report published on Monday morning, Benzinga reports. The firm currently has a $160.00 price objective on the stock.

A number of other equities analysts also recently issued reports on DASH. Benchmark reissued a buy rating and set a $150.00 target price on shares of DoorDash in a research note on Tuesday, July 30th. Oppenheimer increased their price target on DoorDash from $145.00 to $160.00 and gave the stock an outperform rating in a research note on Friday, September 27th. Keefe, Bruyette & Woods raised shares of DoorDash from a market perform rating to an outperform rating and set a $177.00 price objective for the company in a research note on Wednesday, September 25th. Wolfe Research assumed coverage on DoorDash in a report on Tuesday, July 16th. They issued an outperform rating and a $130.00 price target for the company. Finally, Susquehanna boosted their price objective on shares of DoorDash from $135.00 to $140.00 and gave the stock a positive rating in a report on Monday, August 5th. Ten analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $146.91.

DoorDash Price Performance

DoorDash stock opened at $144.49 on Monday. The firm has a 50 day simple moving average of $131.85 and a 200-day simple moving average of $122.57. DoorDash has a 1-year low of $69.90 and a 1-year high of $146.38.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data 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 net margin of 4.24% and a negative return on equity of 5.91%. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter last year, the firm posted ($0.44) EPS. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. Equities analysts forecast that DoorDash will post 0.01 EPS for the current year.

Insider Buying and Selling

In other news, Director Shona L. Brown sold 5,005 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $120.00, for a total transaction of $600,600.00. Following the sale, the director now owns 65,186 shares in the company, valued at approximately $7,822,320. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a 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 15th. The stock was sold at an average price of $104.96, for a total value of $5,685,263.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shona L. Brown sold 5,005 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $120.00, for a total transaction of $600,600.00. Following the transaction, the director now directly owns 65,186 shares of the company’s stock, valued at $7,822,320. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 231,503 shares of company stock valued at $28,709,563. Company insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Northern Trust Corp raised its stake in DoorDash by 0.6% during the 4th quarter. Northern Trust Corp now owns 1,842,042 shares of the company’s stock valued at $182,160,000 after buying an additional 11,412 shares during the last quarter. CenterBook Partners LP bought a new stake in shares of DoorDash during the 4th quarter valued at about $489,000. Elo Mutual Pension Insurance Co increased its position in shares of DoorDash by 5.7% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 22,358 shares of the company’s stock valued at $2,212,000 after purchasing an additional 1,213 shares during the last quarter. Crosslink Capital Inc. boosted its holdings in shares of DoorDash by 29.3% in the fourth quarter. Crosslink Capital Inc. now owns 410,050 shares of the company’s stock worth $40,550,000 after buying an additional 92,890 shares during the last quarter. Finally, Bridgewater Associates LP increased its holdings in DoorDash by 14.0% during the fourth quarter. Bridgewater Associates LP now owns 567,818 shares of the company’s stock valued at $56,152,000 after buying an additional 69,794 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

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.