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

Cantor Fitzgerald reiterated their overweight rating on shares of DoorDash (NASDAQ:DASH) in a research note published on Monday morning, Benzinga reports. They currently have a $160.00 target price on the stock.

DASH has been the subject of several other reports. JMP Securities boosted their target price on DoorDash from $140.00 to $145.00 and gave the stock a market outperform rating in a research note on Friday, August 2nd. 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, August 2nd. Redburn Atlantic initiated coverage on shares of DoorDash in a research report on Friday, July 26th. They issued a buy rating and a $170.00 price objective on the stock. Evercore ISI lifted their price objective on shares of DoorDash from $145.00 to $155.00 and gave the stock an outperform rating in a research report 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 report on Thursday, September 19th. Ten equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $145.50.

DoorDash Price Performance

NASDAQ DASH opened at $143.02 on Monday. The company has a market cap of $58.86 billion, a P/E ratio of -132.43, a P/E/G ratio of 295.70 and a beta of 1.69. The stock has a 50-day moving average of $124.38 and a two-hundred day moving average of $121.86. DoorDash has a 1-year low of $69.90 and a 1-year high of $146.36.

DoorDash (NASDAQ:DASH) last announced its earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share 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 business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the previous year, the company earned ($0.44) earnings per share. DoorDash’s quarterly revenue was up 23.3% on a year-over-year basis. On average, analysts anticipate that DoorDash will post 0.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $140.06, for a total value of $7,586,489.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $140.06, for a total value of $7,586,489.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Prabir Adarkar sold 8,000 shares of DoorDash stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $107.61, for a total transaction of $860,880.00. Following the sale, the chief operating officer now owns 1,002,787 shares of the company’s stock, valued at $107,909,909.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 350,223 shares of company stock worth $41,391,523. Company insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

Several large investors have recently modified their holdings of DASH. Brighton Jones LLC boosted its stake in shares of DoorDash by 0.8% during the 2nd quarter. Brighton Jones LLC now owns 10,317 shares of the company’s stock worth $1,122,000 after purchasing an additional 82 shares during the last quarter. Everhart Financial Group Inc. grew its position in shares of DoorDash by 3.1% in the second quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company’s stock valued at $355,000 after purchasing an additional 99 shares during the period. GAMMA Investing LLC grew its position in shares of DoorDash by 17.2% in the first quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock valued at $101,000 after purchasing an additional 108 shares during the period. E Fund Management Co. Ltd. increased its stake in DoorDash by 3.5% in the second quarter. E Fund Management Co. Ltd. now owns 3,263 shares of the company’s stock valued at $355,000 after purchasing an additional 111 shares during the last quarter. Finally, SJS Investment Consulting Inc. lifted its position in DoorDash by 21.0% during the second quarter. SJS Investment Consulting Inc. now owns 673 shares of the company’s stock worth $73,000 after buying an additional 117 shares during the period. 90.64% of the stock is currently 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.